Why You Need A Real Estate Agent to Buy or Sell A Home
“If you think it’s expensive to hire a professional, wait until you hire an amateur” Quotes such as this one are a guiding principle for life. It’s simple, you get what you pay for – or what you don’t.
Many services have become redundant in modern-day, but real estate agents will continue to be relevant for a host of reasons. These reasons are also the rationale behind connecting with a real estate agent if you’re looking to relocate or sell your property.
They Have the Connections Required For The Job
Think about the average homeowner for a moment. How many people does he/she know that is actively looking to rent or buy a property. If the answer to this is “a lot”, then selling a home without a real estate agent should be easy, yes?
That’s usually not the case, though. A homeowner that goes the route of doing things without a real estate agent will typically spend a good number of months – sometimes years – trying to sell or rent a property out.
Now, ask a real estate agent the same question – how many people does he/she know that is actively looking to rent or buy a property? The list of names is likely to be extremely long.
In the same way, think about all the other people that assist in the process of buying or selling a house: bond originators, mortgage brokers, interior designers, home inspectors, landscape architects, conveyance attorneys. How many people in these lines of work does the average homeowner know? Not a lot.
Real estate agents, though? They have this network of people on speed dial! They can readily provide professional assistance that you may require in this regard and answer any questions that you may have in the process of selling your property.
Let’s flip the script for a moment. Picture the average person looking for a new place to rent or buy. How many properties do you think they have access to, even with all the property listing websites on the internet?
One thing many people fail to realize is that the properties on these websites only constitute a fraction of the properties that real estate agents actually have knowledge about or access to.
Agents know about properties that have not been listed publicly yet, and they know about the ones that will be listed in the next few days or weeks. A lot of times, the best properties are snatched up by buyers within a couple of days, and if you have access to a real estate agent, knowing about these properties before they officially hit the market could give you the upper hand that you need to secure the deal.
Real Estate Agents Are Well-Versed With The Negotiation Process
Negotiations are a crucial part of any transaction. People understand this, but there can be hesitation to get into confrontations because of negotiations. It can also be hard to recognize the right moment to hold
back on an offer and call the bluff of the other party.
Additionally, imagine a seller gets a report about the things that need to be fixed up in preparation to sell a property. The necessary repairs, improvements, and all of that. How do you negotiate the ones you’re
willing to handle and the ones that the buyer will have to take care of?
As a buyer, have you ever been caught in a bidding war with three other people?
These situations are only a few of the possible scenarios that can occur when you try to buy or sell a property by yourself. Are you still feeling confident about it?
Real Estate Agents Have A Code Of Ethics To Follow
This applies if you’re dealing with a registered real estate agent, of course. Unlike the regular seller/buyer, real estate agents have a strict code of ethics to follow.
If for any reason, something goes wrong and one files a formal complaint against the real estate agent, the agent will have to answer to his/her principal broker. Complaints at this level are taken quite seriously and any damages can prove to be a very costly experience for the agent – including reputational damages.
Real estate agents recognize the fact that one of the best ways for moving business forward is through referrals, and what better way to get referrals than through personal recommendations from people that you built a successful working relationship with? On the other hand, when you deal with the buyer/seller directly, you’re living with the fact that they don’t
really care what happens post-transaction. They’re just trying to get the business concluded and exit your life after.
Real Estate Agents Can Be Objective
Imagine you’re trying to sell a house, and the buyer keeps pointing out everything wrong with the house. Now, this may just be a tactic to wear you down and get you to accept a reduced offer, but you may take it personally and refuse to deal with the buyer at all.
A real estate agent will not have this problem. They can be objective, considering the points that the buyer is making and deciding if they’re valid or not before making a decision about what offer to accept or reject.
Additionally, the real estate agents can report the reservations of the buyer to the seller without all the drama that the buyer might have demonstrated in passing their point across. Little things like this can take a significant amount of pressure off the seller.
Real Estate Agents Know How To Work With Contracts
For some people that decided to go the route of doing things on their own, the point where a contract has to be drawn is where they fall short. Drawing up a real estate contract goes way beyond putting some words, figures, and signatures on paper.
In fact, real estate jargon is practically a language by itself. here is an example. Imagine a seller lists a property and marks a feature as “easy access to the expressway”. The average buyer might consider that to be a good thing, but in real estate speak, it could be referring to a noisy
street with the constant sound of speeding cars and car horns.
On the same note, there are many technical documents, reports, contract forms, and disclosures that may need to be filled when buying or selling a house. Working with a real estate agent who knows their stuff
will help you ensure that you’re not walking into a trap.
Still wondering if you really need a real estate agent?