Whether saving time on the paperwork or house listing search, a real estate agent will make every step of the home buying experience more efficient. Here are five significant reasons why you should hire a realtor.
Sellers typically have to pay the commission of the buyer’s real estate agent, so if they find out you are working alone; they will simply raise the price of the home. If you don’t take advantage of a realtor’s expertise, you’re losing money and an opportunity to have their services by your side.
Their negotiation skills are another factor to consider. Realtors are typically able to negotiate a 3 percent decrease in the original property price. That’s saving you $3,000 for every $100,000 – which means you probably already made your money back by hiring a realtor.
In addition, real estate agents can find great deals by scouting out houses that have been on the market for a while. With this inside scoop, they can bargain a smaller price point, since these sellers are more eager to sell the property.
According to a National Association of Realtors 2017 survey, 60% of homebuyers believed their realtor was beneficial for helping them understand the buying process. In the same survey, 56% of buyers were also thankful that a realtor was able to point out property faults or hazards.
Information about neighborhood trends and house prices are readily available online, but a realtor will know whether or not an exact house is underpriced or overpriced. Along with such knowledge comes the experience with noticing any problems in the house as previously mentioned.
Real estate agents are also trained to know the city’s codes as they pertain to your new house. This can affect, if an Airbnb is allowed, how specific utilities are handled, or whether or not add-ons are acceptable in the yard or house. You want to make sure you’re informed of these codes before disclosing, and a realtor will make sure this information is added in the paperwork.
If you’re new to the neighborhood, this benefit is especially helpful. Real estate agents have ample connections regarding the best inspectors, mortgage professionals, landscapers, and contractors in town.
Alongside an abundant networking list, they have exclusive access to unlisted houses for sale. You might be missing out on your dream home and you would never know unless a real estate agent told you! Some people choose to privately sell their homes without putting an ad online or sign outside. Whether it’s an iffy divorce or financial issue, certain sellers only disclose their information to real estate agents without making a public notice.
Real estate agents know how to negotiate the best price on a house from an unbiased stance. Whether you want to admit it or not, odds are you’re emotionally invested in your potential home, which can make negotiating repairs or prices awkward if you come off as unprofessional to a seller. A realtor can act as a middleman who effectively communicates your needs without the sentiment.
Real estate agents can also negotiate repair requests before a purchase, to make sure you’re getting the most bang for your buck before signing.
Purchase agreements are typically 10 or more pages. Several inches of paperwork increases the chance of you making a mistake or forgetting to sign off somewhere amid the long-winded paragraphs. A mistake in the final papers could land you in court and cost you thousands of dollars.
A lot of last-minute problems can also occur during the paperwork process. Real estate agents can find the right professional to help resolve any title issues that might arise because they’ll recognize if something iffy is going to occur during the signing.
Time to Start Searching
Before you scan through a house-listing site, spend some time searching for the right real estate agent. His or her expertise will benefit you in the long run because you won’t risk losing any money or running into mistakes during the final signage process.
Happy house hunting!