Buying or selling a home is a major financial and emotional undertaking. It may seem like a do it yourself job, but actually it is not so simple. Whether you’re buying or selling, real estate agents can be a lifesaver when it comes to doing the hard work for you.
“A good real estate agent coordinates the entire buying/selling process. During this process he/she plays different roles; that of a salesperson, a buyer’s advocate, an expert, an analyst, a business manager, a consultant, a negotiator, and a marketer, all for the sake of making a successful transaction a reality.‿
Starting from the viewings to the negotiations to the sale and completion process, an agent walks you through all the steps. The sales where people sell their homes themselves, are called For Sale by Owner sales. The main reason this is attempted is the common belief that by avoiding the agent’s commission they can gain maximum profit. However, statistics prove the opposite:
Selling your home with the assistance of a professional real estate agent will garner you a higher profit (up to 13%)
That is enough to cover the commission as well as put more money in your pocket. This is not all, hiring an agent will also save you a lot of time, work and worry!
Choosing to hire an agent can be beneficial for the following reasons:
SELL QUICKLY AT THE BEST PRICE
Pricing your house correctly is the fastest and most effective way to sell your house. If you are selling your house yourself, you may price it too high and your home may become a stale listing. On the other hand, if you price too low, you may lose a good amount of money. By hiring an agent, you can make sure you don’t make any such mistakes when pricing your home. Real estate agents have an in-depth knowledge of the recent sale prices of the local market, so they can make accurate valuations and achieve optimal sale price for your property. An agent could help you get a higher price for your property compared to what you may get if you choose to sell it yourself. Like they say, “Time is money.‿ An established estate agent can sell your home faster than you can since they have a large number of contacts on their register/database who are looking to buy a house.
Bidding or making offers is a stressful task. Handling negotiations is the most difficult task when buying or selling a home. Professional agents have developed and polished their negotiation skills over time. They can help you frame your offer to get the best deal done in your interests, one particular advantage of using an estate agent is that you don’t have to negotiate directly with the buyers, your estate agent will be well equipped to manage the negotiation on your behalf and will make sure you get the best deal possible.
An agent can get your house maximum exposure with the help of the right marketing materials and effective networking. Real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. An estate agent will already be in contact with a considerable number of potential buyers on their database, who have listed their criteria with the agent and who are searching for property, ready to start viewing homes for sale immediately.
FIND THE PERFECT MATCH
Agents can help you find the right house you are looking for at the best possible price. Buyers can list their criteria ranging from the most generic thing to the minutest particular need. A real estate agent will track down homes that meet your criteria, get in touch with sellers’ agents and make appointments for you to view the homes. Similarly, if you are trying to sell your house, an agent will help you find the Right Buyer with minimum hassle.
SAVE TIME AND HASSLE
If you are working full time and choose to sell your house yourself, it is almost impossible to manage home viewings between your work and life schedule. On the other hand, if you hire an agent, they will be there for you to coordinate viewings. Your estate agent will liaise between the potential buyers and you to arrange viewings of your property. They will be present at the viewing to sell your home to the interested parties and to answer any queries. After a viewing has taken place, the estate agent should update you of how the viewing went and give you any useful feedback. Similarly, if you are looking to sell your home yourself, you will have to solicit calls from interested parties, answer questions and make appointments. An agent can help you with soliciting and finding you the people genuinely interested in buying your property.
KNOWLEDGE AND EXPERTISE
Real estate agents have knowledge of the local area, type of properties for sale and potential demand, kind of buyers that might be interested in your property and how to present it in the best possible light to the target market. They have access to the most recent market data, therefore they are able to give you advice on realistic purchase and listing prices. No one knows the local area better than an estate agent. An experienced estate agent is backed by a wealth of information, they continuously improve their skills via designations.
You can ensure the safety of your house by not letting strangers in and having your home viewed only by interested buyers enlisted with the agent. Agents take the responsibility of introducing strangers to your property which removes any threat to your safety.
It is true that nobody knows your home better than you, but you have to be more objective rather subjective when selling it. An agent can help you with such objective insight to your home. They are able to give you specific useful tips to make your home more desirable to buyers such as staging and minor repairs. An agent can assist you in sorting out what must be done to present your house in the best possible light. Just in case you encounter any problems during the sales process, the estate agent will advise you on the best course of action to take to overcome any obstacles that may be blocking a quick sale for your property.
UP TO DATE
Real Estate Agents have the most up to date information. They know the hot spots even before they are publicized to buyers. They know exactly where to go for information and how to use that information to your benefit.
HELP WITH ADDITIONAL SERVICES
Estate agents have a broad network of relevant contacts like surveyors, conveyancing, removals, mortgage advisers, builders. Hiring an estate agent to help you buy or sell a house will give you access to her/his fellow-professionals and contacts. When you hire an agent, you also buy their sphere of influence. However, in a FSBO sale, one will have to do everything all on their own.
FAMILIAR WITH THE PROCESS
A real estate agent has a better understanding of the entire sale process from start to finish and they have the much needed experience to work through it efficiently. They can help with financing problems, dealing directly with buyers’ objections and complaints, keeping everything on track, and facilitating the contracts to a smooth close. Your agent will guide you through the closing process.
Agents help you negotiate inspections. Inspections reveal the things that need to be fixed before closing. Your real estate agent will help you decide what items should be fixed before closing the deal. If you are a seller, your real estate agent will guide you when your buyer requests fixes.
An agent is excellent help with the paperwork involved in the buying/selling process. When it’s time to close the deal your real estate agent will be right there to explain each piece of the contract before you sign. It will make you feel more at ease with the process.
A real estate agent’s job is to act as a liaison between buyers and sellers. If you are working with an agent, you can express your contempt and concerns without making the owner feel awkward. Your real estate agent can convey your concerns. Likewise, sellers have the benefit to represent their interests through agents without turning off potential buyers who are hard to haggle with about price.
An experienced real estate agent deals with the contracts and conditions pertaining to buying/selling on a regular basis. They are familiar with which conditions should be used, when they can safely be removed and how to use the contract to protect you.
While people may choose to buy their desired property themselves or sell their own homes, the process isn’t as simple as many people assume. And when you get into a difficult situation, it can really pay to have a professional on your side.