When buying a property, many people get stuck between going it alone or involving a real estate agent. Whereas anyone can buy a property on their own, it is a risky path that any serious investor should avoid.
To buy a home worthy of your money, you must also invest in a good realtor. If you’re in this phase wondering whether to use an agent or not, this article is for you. Our experts’ 10 key points should leave you convinced to buy through agents.
Top 10 Advantages of a Real Estate Agent
1. Pricing Expertise
A good real estate agent can evaluate a home at a glance based on experience. Just by walking through the door, they can tell between an overpriced or an under-priced home. Also, they’ll have a grasp of the neighbourhood value for different properties.
These are crucial services when trying to close that property deal. Instead of jumping from site to site trying to figure out which property fits you, an agent can fix that from the office. Remember, they interact with these properties way before anyone makes contact. Therefore, they can easily point out a home that best fits your description.
2. Time-saving
Instead of walking around looking for a home on sale, your agent does that for you. All he’ll ask for are the features of your desired property, such as the size, design, and location. Before long, you have a viewing date on your calendar.
3. Paperwork
Yes, you have the money and you’re ready to pay for that dream home. But do you know the processes involved? Things like written offers, counteroffers, agreement signings, and transfers? All these are tedious processes, and most of them are time-bound. At this stage, things can go wrong. And that’s where the agent comes in.
These people have been on the ground long enough. They understand all the processes involved. If your head is bursting to process this legal jargon, a junior realtor staff can save you from all that.
4. Unemotional Negotiation
Homeowners have deep emotional attachments to their homes. And some can easily bring these emotions to the negotiation table when selling. When that happens, only a professional agent can control this process without emotions. Otherwise, things can escalate from bad to worse.
No matter how level-headed you consider yourself, you can lose your cool when negotiating with a homeowner. And if not careful, you may end up cancelling a good deal altogether.
An agent is a good guard during negotiations. He can easily take all the heat without reacting. At best, agents may never even let the buyers meet the homeowners for negotiations, which is good for both parties.
5. Professional Indemnity
The law requires every licensed real estate agent to act in the best interest of their clients. Therefore, when buying through an agent, you’re guaranteed quality services from the start to the end.
When buying from the owner, there is no such thing as indemnity. The person can even abandon you midway through the registration or transfer process. Such inconveniences end up costing you more money.
6. Knowledge of the Market
If you prefer shopping for deals on property listing companies, you miss a lot. Agents have the biggest market pool comprising other agents, property owners, and the community. Also, their understanding of the market isn’t something to be taken for granted.
These are the people who know where each property is located, including some that are not listed anywhere. Additionally, they have the capacity to negotiate deals based on the prevailing market rates.
7. Record Keeping
Documentation is vital during and after a property purchase. All realtors have a filing mechanism for all their active and previous clients. In case of a dispute, they can access the records with ease. Most likely, they’re also the people who’ll deal with the issue without you getting involved.
8. Repairs
The art of asking for repairs is a delicate balance. Without the prerequisite knowledge, the deal can go wrong at this stage. Also, you may not be able to see all the faults on the property. Agents easily point out the kind of faults that you can’t see.
They can as well recommend home inspectors for a thorough report on the property. Then based on the report, they can advise you on the best course of action. They can either recommend the repairs or affirm the suitability of the property.
Often, the buyer has the final say regarding the topic. One can opt to ask for slight touches or renovate the house himself after purchase.
9. Legal Challenge
Purchase documents use heavy legal jargons that can be problematic to interpret. But with an agent, you won’t need to worry about that. All the legal processes are handled by the agent’s staff to the last phase.
10. Last minute Pitfalls
At the final stages of any deal, there are all manners of surprises. Be it a signatory of the title deed staging a coup, a defaulted loan somewhere, or family feuds. This is a terrible moment for buyers.
However, from the experience agents have gained over time, they know how to watch for this phase and avert fallouts. They also know when to advise their client to let go. They can sniff troublesome sellers, miles away and keep off their property.
Very insightful.