10 benefits of using a real estate agent to buy a home
It is true that anyone can buy a property and even peek inside without officially signing a contract with a real estate agent. But unless you have enough time to turn buying a property into a part-time job, a broker may be able to find you the perfect property much faster.
Say you want a swimming pool or not.
Maybe you want a fenced yard for the dog or a playroom in the basement for the kids, a large balcony, or maybe a 40 square foot living room. If you’re looking for something specific, the real estate agent is the person whose job it is to know if there’s a property that meets your needs, and he or she will “hold your hand” all the way through the transaction. Let’s take a look at some of the main benefits of hiring a professional realtor to buy a home.
10: Ethical consideration
Although not all Realtors are licensed, hold the necessary qualifications and are members of the National Association of Realtors, those who join the group agree to abide by a code of ethics. This code essentially stipulates that brokers deal fairly with all parties to the transaction. According to the Code, a broker is obliged to put the interests of clients before his own. He or she is also required to fully disclose the problems with a property and to be truthful in advertisements.
9: Expertise in pricing
Most real estate agents can price a home the moment they walk through the door. If they have a lot of experience in the market, they also know what the value of the area is. While anyone can spend a few minutes online and retrieve sales information on comparable houses, realtors have the expertise to know if a house is overpriced or underpriced.
At best, an agent will have such a good idea of what you’re looking for that they won’t even waste your time touring properties that won’t be right for you.
Realtors can not only provide all the local home sales data you want to see, but they can also bring assets to the transaction that come from years of watching waves of transactions in the neighborhood.
8: Repair request
Often the most sensitive part of buying real estate involves the tedious and exhausting renovation. The broker will be able to identify problems that you may not notice, as well as recommend a good independent handyman who will provide a detailed report, price list, and exact timeframes for necessary repairs to the property.
If the house is in relatively good condition, repair requests can make or break a deal. The agent will have a good idea of what is reasonable to ask and what is excessive.
7: Finding available homes
Although most homes for sale are widely available to buyers, advertised on all the websites, in some cases sellers do not want the fact that they are selling to be widely publicised. In these cases, only the real estate agents know that the properties are for sale. Sometimes people don’t want this actively advertised.
Maybe it’s more of a personal reason
They don’t want their neighbors or friends to know that their property is for sale. Sometimes health issues, financial problems or divorce are a factor in the need for a more discreet sale. Or sometimes people don’t want the sale advertised during the holidays. Either way, a realtor’s job gives you access to homes you would otherwise miss out on seeing.
6: Dealing with documents
If you’ve ever bought a house, you’ve probably set aside an entire shelf somewhere for the paperwork that was included in the deal. These probably include the written offer, the written and signed counter-offer, the little details (like specific repairs), and exactly what was and wasn’t included in the sale. Paperwork can be tiring. This is when a good broker can save the day. Often these offers and counter-offers are limited by a time frame.
The agents are armed with the necessary skills and experience to get you through this stage quickly and reach the best possible terms.
The likelihood of missing something, not initiating a margin, or not checking a box can drop significantly when you work with someone who knows the documents inside and out.
5: The Purple Room Phenomenon.
Aside from the technical aspects of selling and the mistakes people can make in the paperwork, real estate agents know neighborhoods and properties inside and out.
What is the phenomenon of the “purple room”.
If a buyer wants a property with a purple room, an experienced real estate agent will know the property that is for sale and has that room.
More generally
the broker will know about the specifics that are not shown in such detail on the Internet. If a buyer is looking for a house with space that can be used as an office, an outbuilding for an in-law suite or a room that is perfect for displaying a prized grandfather clock, a professional realtor is more likely to find a match than a real estate website.
4: Non-emotional negotiations
No matter how level-headed you think you are when you’re arguing with the salesperson about adding a hose to the dishwasher as the water drains onto the floor, it’s easy to lose your temper. Having a professional broker with mediation skills to objectively lay out your wishes and negotiate them with the seller saves you time, negative energy and the trouble of feeling overly emotional about the deal.
Say the seller won’t budge with the dishwasher hose and you want to adjust your offer. The agent can handle that part with ease as well. Experts advise letting the broker take the strain in difficult negotiations.
The best way to close a deal
You should look for the positive side of every offer and counter offer and never let the other party see you making a sour face. Often the most effective way to do this is to introduce the person doing business – not your own.
3: Expertise in code
If you want to buy a charming little house near a business district and turn the ground floor into a candle shop, you need to know if the area will allow it.
Usually an experienced realtor is familiar enough with local zoning ordinances to be sure you won’t buy the wrong house.
Also, some areas may require expensive upgrades to older properties when they are sold. For example, if a house is not connected to the city sewer system and the buyer will be required to spend tens of thousands of leva to connect the property, the broker will make sure that this requirement is disclosed before the transaction proceeds to the next stage.
2: Thorough record keeping
Although real estate agents are not attorneys, they can serve as good resources years after the transaction closes. In some states, licensed agents are required to keep complete files of all documents in all transactions for several years. Although you can (and should) keep files yourself, you can rely on your broker to keep this information organized and secure should problems arise with the property in the years to come. You will also be able to contact your broker at any time in the coming years if you have questions about the property yourself.
1: Avoiding closing problems
When a sale is nearing completion, all sorts of pitfalls can kill the deal in the final hours. The broker knows how to watch out for trouble before it’s too late. For example, the deed to the house may not be clear – it may name a long-lost relative who did not sign the sale. Or maybe the lender is creating a problem by not following the funding schedule.
When you’re close to closing, you want to make sure that there are no unexpected documentation issues, that financing has gone through, and that everyone involved in the deal is completing tasks by the deadline.
Brokers are used to dealing with these types of issues and can handle almost any challenge that arises.
