Whether you are buying or selling a home, you may be tempted to navigate the process on your own in an effort to save money. Unless you are extremely knowledgeable and experienced in the real estate market, this can create an untold number of headaches. The following are a few reasons why you should consider teaming up with a real estate professional.
- Your Needs:
As a buyer, a REALTOR® can help you separate your “must-haves” from your “nice-to-haves” so that you do not waste your time looking at homes that do not meet your needs or budget. If you are a seller, a REALTOR® will sort through the pool of potential buyers and only schedule tours for those who are qualified and genuinely interested in purchasing a property.
- A Source of Information:
Trends in the real estate market change on almost a daily basis. An experienced REALTOR® will stay abreast of the latest changes in market pricing, regulations, and more. They can also serve as your guide through the sometimes confusing purchase process by being by your side from the initial offer to the closing.
- Negotiation Power:
Both buyers and sellers can become overwhelmed by emotion when it comes to negotiating the purchase price of a home. Buyers who fall in love with the aesthetics of a property or fear that they will not find another home that they like as well may end up spending above market value. Sellers, on the other hand, may be afraid that their first offer will be the only one they will receive on the property and accept a less than desirable purchase price. A REALTOR® can cut through the emotion to ensure that you either pay or receive a fair price for your home.
- Being Objective:
If you are selling, a REALTOR® can suggest inexpensive modifications to boost your home’s buyer appeal and sales price. For buyers, an agent can help you see past outdated wallpaper and flooring to spot a diamond in the rough that is waiting to become your dream home.
- Market Expertise:
Most agents specialise in certain segments of the property market, such as condos, historic properties, or single family dwellings. They will know the current inventory and the market value of these properties based on recent sales. This knowledge allows both buyers and sellers to wind up with more cash in their pockets.
- Red Tape:
During your real estate transaction, you will be asked to read and sign disclosures, agreements, and numerous other documents. A REALTOR® can help you understand the meaning and importance of each document. They will also ensure that everything is signed and delivered on time so that a paperwork glitch does not derail your transaction.
- Your Professional Advocate:
Buying or selling a house is a high-stakes transaction. Your REALTOR® is obligated to protect your interests and act as your advocate throughout the process.
Hiring a REALTOR® will cost you money in commissions; however, it is money well spent when you consider the benefits in terms of effort saved and the increased likelihood of a successful transaction.