Why Home Buyers and Sellers Should use a Real Estate Agent
The Importance of Using a Real Estate Agent â€˘ Home buyers and sellers today are under the impression a real estate agent is not needed when purchasing or selling property. The power of the internet and access to an abundance of real estate information leads many to believe they can eliminate the middle man. However, independent investors who are not skilled in real estate often times miss some very important details when they are buying or selling real estate.
Market Experts One of the biggest advantages of using a real estate agent is the ability to tap into their knowledge of the local markets. Agents have an infinite knowledge of the market they are working in and pass this knowledge on to their clients. They are experts on the local landscape and use this knowledge to place clients in the perfect home. Affordability and pricing are two other areas of expertise an agent provides. Their knowledge allows sellers to price their home based on comparative values of other homes within the local market. This means the seller avoids either pricing the home too high or too low. Buyers can expect to find a home or property that is within their budget along with finding a home in an area that is suitable for the buyers.
The Art of the Deal at Closing Time â€˘ Real estate documents are one of the biggest headaches when trying to close a deal. The amount of paperwork required to close the deal overwhelms those who do not have a detailed knowledge of the real estate or mortgage industry. Mortgage documents alone can reach 1,000 pages or longer. Specific documents at closing must be signed by the buyer and seller, or the deal has the potential to fall apart. Agents know which documents are crucial to keeping the deal intact and know how to work with title companies and attorneys who are responsible for closing the deal. This eliminates much of the stress buyers and sellers experience when they are trying to obtain the best possible deal.
Trusting the Agent â€˘ The majority of agents practice their trade in a fair and responsible manner. However, there are many agents who use questionable tactics in order to close the deal and retain as much commission as possible. Agents who try to manipulate the deal withhold important data prior to close for their own gain. Unfortunately, this is a sad reality in todayâ€™s housing industry. However, real estate novices should feel comfortable knowing that the majority of agents are respectable and look out for the best interest of their clients. The internet is a great way to find out if an agent is considered trustworthy along with a sound reputation.
Knowledge is Power
â€˘ Trying to buy or sell real estate without an intimate knowledge of the industry leads to disastrous results. Thousands of dollars are lost when individuals attempt to close a real estate deal on their own. A real estate deal should never be attempted by someone who has little to no experience in the industry. Those are some of the reasons why an agent is needed to close a deal that benefits the buyer and the seller.