Once you have become committed to buying or selling a home the next commitment you may want to make is to a real estate agent. There are many reasons why you should hire a realtor, and only a few are expressed in this post. It is important to remember though that real estate agents are professionals and many excel in their field. Therefore they are able to handle the entire process for you without you having to worry any more than necessary. All other advantages aside, having a stress free real estate experience should be enough to convince you to hire one. In case you’re still a little hesitant though, here are some major reasons why investing in a real estate agent could be the best decision you ever made.
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First and Foremost It’s About the Money
A study by the National Association of Realtors has shown that when selling a house individuals who do not use a real estate agent typically settle for about 30% under the actual selling price of their home. This can simply be due to a lack of experience, negotiation skills, or because a seller wants to sell their home fast. Hiring an agent can fix all of these problems though. They have the ability and knowledge to help you sell home as quickly as possible while still ensuring you get the best deal. The money you will gain from using a realtor to sell your home will greatly outweigh what you pay in commission fees. Making it well worth the cost that deters many sellers from hiring an agent.
If you are buying a home it is simply a no brainer when assessing the question “why should you hire a realtor?” The seller pays the buyer’s agent commission so truly you have nothing to lose. In the rare case you find a home that the seller is not willing to pay your agent’s commission, you can always attempt to negotiate that in the contract, or look for another home. An agent’s job regardless of if you are buying or selling is to get you the best deal possible, and hiring a great agent will ensure exactly that.
Access to Seasoned Negotiating Skills
Real estate agents are tried and true negotiators. They fully understand what does and does not work in a real estate negotiation. Many of them even have techniques of their own they have developed over years of practice. They know how to deal with buyers, sellers, and other real estate agents in the most effective way. Thus keeping the transaction as peaceful and seamless as possible.
Most importantly they also have no emotional stake in the outcome of your deal. You may be willing to pay an extra $15,000 for a home that you absolutely love, but it may not be necessary with great negotiating skills on your side. It is possible that you hold more bargaining chips than you are aware of in a negotiation, and agents help to make sure every chip is used in order to save you the most money.
Paperwork Can Be Difficult to Manage
Contracts can easily be daunting for anyone, including real estate agents at times. Purchase agreements alone can exceed ten pages. That paperwork does not even include all the state, local, and federal documents that are required for the purchase or selling of a house. There are also inspections and scheduling that need to be considered as well. All of these mundane and easily confusing tasks will be completely taken off your plate when hiring a realtor. Many agents even have transaction coordinators that handle many of these tasks. So you can have the peace of mind that someone with experience is handling your case. Guaranteeing that all your paperwork needs are taken care of. This is especially important because even small mistakes in your paperwork can end up costing you fees that will only add stress to your experience.
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Experience in the Industry
Buyers tend to have a pretty clear picture in their head of what they are looking for in a house. This picture most likely includes a set number of bedrooms, bathrooms, and maybe even a large backyard. While it is great to know what you want, your agent is there to help you realize the things you definitely do not want. An experienced agent will be able to recognize the tell tale signs of costly problems when researching a home. For example, easily missed complications such as roof problems, leaks, and furnace issues will not go undetected by an agent. Access to this knowledge and advice has the potential to save you thousands down the road.
This tested experience not only helps you if are a buyer, but a seller as well. It is difficult to know what exactly is a reasonable price for your home especially if you do not have experience doing a comparative market analysis (CMA). A CMA compares your home to other homes that have sold recently and have similar characteristics as yours. Real estate agents perform these in order to determine a realistic price range for your home. This information is then used to ensure you get the highest price possible for your home.
Having a Partner in the Process
Investing in a real estate agent is the smartest move you can make when buying or selling a house. They will make the entire process and experience less stressful, and overall more enjoyable. When hiring a seasoned realtor will be able to trust that they have your best interests at heart, and will do everything in their power to get you the results are looking for. They truly become a reliable partner in the real estate process. You will not regret investing in the services of an agent, and honestly you will probably consider the investment one of the best decisions you make.