Why Work With a Realtor?
When looking to buy or sell a house, some people wonder about involving a Realtor. Homeownership is a daunting process that only favors those who chose to work with a team of professionals.
When going through this process, you have to be careful as it is one of the biggest life investments.
Some people have a misguided mentality concerning the role of real estate agents. Most often believe that agents are overpaid. However, it is important to understand the role they play before being judgmental. There are tons of tasks that are handles behind the scenes that most house buyers are unaware of.
When looking to invest in real estate, consider working with a Realtor. This will help you get the best value for your money when purchasing properties and avoid common pitfalls.
Realtors are experts in real estate. They are typically packed with a plethora of useful information about the community and the surrounding areas you want to buy.
An outstanding agent can advise on everything from mortgage brokers to home inspectors to movers and many other aspects of a real estate transaction. Some agents have expertise in financing and can tell you whether it makes to pay closing costs or not with your mortgage. If not, they work with a mortgage specialist who can advise on what’s best given your circumstances.
If you think about an agent as someone who just shows you properties, you’re missing out on getting the most value and guidance.
Instead of buying or selling property on your own, review the following benefits of working with a Realtor and then make a sound decision.
Realtors have a strong knowledge of market trends and information concerning important aspects of your particular city. For example, you can run into issues like zoning laws if you plan to do major renovations.
If you planned to turn a single-family property into a duplex, but the property is not zoned for that, you will need to figure out a Plan B. Variances aren’t always easy to get, depending on the city and neighborhood!
By agreeing to work with you, the Realtor represents you and shoulders the responsibility of promoting your best interests.
The National Association of Realtors is the organization responsible for licensing Realtors. Through this license, the agents are obligated to put their client’s interests ahead of their own. They also have a mandate of being truthful in their advertisement and fully disclosing a property’s problems.
Access to More Listings
If you are searching for a property to buy, you will have a huge advantage working with a Realtor. For starters, they have access to the MLS. The MLS (Multiple Listing Service) is a platform for buying and selling all across the United States. This is a region-based database filled with property listings accessed only by people with their real estate licenses.
By using this tool, Realtors receive alerts on available properties once they hit the market. If you live in a competitive market, speed is vital to getting the house you want under contract.
On the flip side, if you are selling a house, the MLS is a powerful tool that will help you put more money in your pocket after the sale. It is the ultimate tool for generating interesting and gaining exposure to your house listing.
Tapping Into Their Pricing Techniques
Realtors are experts who understand the market prices of properties in their communities. They understand selling a home quickly and for top dollar depends on pricing accurately. Through their local experience, they can typically tell whether a house is underpriced or overpriced.
If your home is sitting on the market for multiple months, that’s a good indicator that it may be overpriced. Realtors usually work alongside you if that happens to shift the marketing game plan where needed.
It also helps to have a professional involved that isn’t ‘emotionally tied’ to the property. They will give you their honest pricing opinion regardless of how hard it is to swallow.
Emotions can often cloud peoples’ perspectives during business transactions, including selling a house. Working with ethical and competent realtors goes a long way in helping homeowners maximize their earnings and avoid headaches later in the process.
Realtors understand their markets and therefore have a good sense of what will work and what will not. This puts them in a better position to identify, negotiate, buy, and sell properties faster than investors working independently. They also understand the complex transaction processes involved in the real estate business.
A Realtor will interpret unfamiliar concepts making you aware of what is happening throughout the transaction. If an unexpected issue arises, the agents will quickly advise on the best course of action that will avert losses.
In real estate, there are dozens of different scenarios and obstacles that can arise. Many obstacles often do not have a clear initial solution. Working with an experienced Realtor is worth its weight in gold by the simple fact that they can put out fires and problem solve when you need it most.
The best agents can bring down the time to close on a house.
Working Under Legal Requirements
Unless you are a professional in real estate, it is unlikely that you are familiar with all the rules and legal requirements. Some legalities must be followed in the buying and selling of property.
They also vary depending on your state, county, and city. Working through legal battles is no ride in the park. Consider hiring a professional Realtor to handle the legal jargon of buying and selling real estate for you.
Professional Negotiation & Sales Skills
Most people avoid working with Realtors to cut costs. Unfortunately, property owners tend to focus on the big commission that will pay to the Realtor when selling a house or building. They overlook the benefits of working with them and the countless advantages that come with it.
A Realtor is a professional negotiator who is ready to champion your interests and keep the deal from taking unexpected turns. By using a Realtor, you have a high chance of getting the best deal on your property.
If you receive multiple offers, your Realtor can go to bat for you to try getting higher offers from the interested parties. They can use clever sales tactics to create urgency amongst buyers and get you the highest value for your property.
Investors have varying opinions on the use of realtors when buying and selling property. Some balk at the idea based on past experiences. Others simply don’t want to pay a commission and believe that they can handle the entire process themselves.
Whichever category you fall into, it’s important to understand that real estate agents are indispensable as they play a significant role in the real estate world. Paying a Realtor is almost always worth it/
The benefits listed above prove that working with a Realtor is a win-win arrangement. No matter what you are looking for, whether it be a multimillion beach condo, a family house in a good neighborhood, or an apartment for someone starting out, the right agent can help you get the best deal.
The value, knowledge, and skill that Realtors bring to the table can help you reach any real estate goal that you have. Select a Realtor who is the best fit for you in terms of your end goal and ultimate plan to buy or sell a house.
About the author: The above article on the benefits of working with a Realtor was written by Alex Capozzolo. Alex is the Brotherly Love Real Estate blog owner and a content writer for the real estate industry. His focus is on helping people through one of the most important investment decisions of their lifetime by seamlessly providing fast, honest, and professional real estate services.
There will always be some folks who feel they can do better by themselves. They rarely understand how unprepared they are and how much money they’ve left on the table.