You might think it’s smart to forgo the services of a real estate agent to sell or buy a house. This will help you save commissions. Don’t do it! It’s a bad idea. These are some examples of why you need a real estate agent to sell or buy a house:
Negotiations with Middle Man
There are many negotiations involved in a real estate transaction. Negotiations go beyond the purchase price. What happens if the home appraisal comes in lower than you expected?
Your agent is the bad guy. He or she deals with the other party professionally to get your needs and wants across. This is a key skill that a realty agent has and should be used.
It is based on the vast experience of someone who can genuinely say that “It works like this 80 percent of the time, and that’s what we expect.”
Rolodex of Resources
It is a part of their job to be connected. They not only know of other agents who might have the right buyer or seller for your case, but they also have reliable resources for home appraisals, inspectors, escrow, and title companies. If you aren’t sure where to begin, a good agent can help with insurance, home warranty, contractor recommendations, and other services.
They also know where to look for information if it isn’t available. Your realtor will know where to look for the original survey information and how to contest the reports if the land survey is questioned. Your agent will know the roles of all the people involved in closing an escrow transaction.
You don’t want the deal not to be legal when you close a real estate deal. Agents are familiar with federal and state laws as well as contracts. They are responsible for ensuring that all disclosures are made and that all paperwork is filed on time. Without an agent, you cannot be certain that all these requirements are met.
We all feel emotionally attached to our homes. You may have memories attached to the house that you believe make it more valuable than it is. It is important to price the home based on market conditions. Your neighbor selling a completely renovated house with a pool may not be as valuable as your fixer-upper. The large investment may scare buyers away from a home they want to build in the future.
There are many emotions involved in this process. An agent can help you identify legitimate concerns and emotional reactions. They will help you to understand the true risks and the value of the transaction by analyzing the data. They are the sounding board for a reason.
Market Industry Muse
It might seem like you have an ear for the market, but does it really matter? It’s not likely! Listings are being watched by real estate agents who watch them sell or sit. They hold market update meetings with brokers and talk to mortgage representatives about interest rates. They are also familiar with seasonal ebbs and flows.
Selling before Labor Day is smart. How to make a winter open-house work for your benefit in selling your house quickly? Real estate agents do! They are familiar with market trends and specific market data. This could make the difference between a house being on the market for too long and buyers or sellers not being able to get an offer accepted.