You see the “for sale” signs, map out weekend open houses and intensely research prices and listings online. So far, you’ve got this whole real estate thing down. In fact, buying a house all on your own is completely doable. But when it comes to making such a big purchase and taking the next step to your future as a homeowner, it may be worth having a real estate agent, or Realtor®, on your team. If you’re still on the fence about hiring a real estate agent, below are our top five benefits of doing so.
Knowledge is Power
It’s a real estate agent’s full time job to work within the market or area where you’re interested in making a purchase. There is no denying that the real estate agent you choose will probably have a lengthy list of resources and relationships, which means greater access to more homes that fit your criteria. Your real estate agent will utilize their network to track down houses specific to your needs and budget, contact each property’s representative and schedule appointments for you to visit the homes. Doing all of this on your own only narrows the opportunity and likelihood of getting connected to the home of your dreams. Plus, working with a real estate agent takes the stress out of shopping around on your own.
Neighborhood Insights
Whether or not your real estate agent has helped buy and sell homes in the neighborhood you’re interested in, they know where to find the inside scoop about your preferred location. This could be information regarding crime, diversity, the ratio of rentals versus owner occupied units, schools and more. Your real estate agent will also understand pricing within a certain area and can pull comparable sales for your reference.
Market Conditions
Market conditions are the factors that influence the housing market in a particular area or neighborhood. A real estate agent will be able to disclose data such as the average sale prices, days on market and per square foot cost of homes within the location you’re searching. This information, in conjunction with help from your mortgage team, will allow you to make an educated decision about what you can offer and how it should be structured.
Negotiating
When representing yourself in a real estate transaction, it’s often hard to remove your own emotions. Negotiating a deal is part of a real estate agent’s job description. They understand what is needed in order to sign the deal without feeling a personal attachment. It’s their obligation to present your offer and case in the highest regard while keeping the negotiation professional.
Contracts and Paperwork
Finally, your real estate agent will be very well versed in the documents that surround a home purchase. In fact, they deal with the same contracts and conditions on a regular basis, so they know which conditions should be used, when they can safely be removed and how to use the contract to protect you. This is a huge benefit to you.
Plus, they take this hassle off of your plate. Most real estate files are one to three inches thick with details that should be carefully read and edited. Your real estate agent, with the assistance of professional colleagues such as a mortgage lender, title company or lawyer, will be key factors in making sure all paperwork is handled properly.
For more information on this topic, please contact our mortgage team. We are here to help. You may also try our mortgage affordability calculators or sign up for a complimentary seminar.
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