4 Benefits of Hiring a Real Estate Professional
If you’re looking to buy or sell a house, you might be contemplating whether you should hire a real estate agent, or do handle the process yourself. Some people avoid working with real estate professionals simply because they consider the commissions and fees too high. Others have had bad experiences in the past and they have sworn to themselves to never work with one again. However, this only speaks volumes about the importance of working with a great real estate professional. If you haven’t had any previous experience with one, and are on the fence of whether or not you should hire a real estate professional, here are four benefits that might help you make up your mind.
Extensive Market Knowledge
Nobody understands real estate market conditions and trends more than people whose living depends on it. If you’re looking to buy and sell property, this is one of the top benefits of working with real estate professionals. Great agents are knowledgeable of all aspects of the housing market.
When buying a house, especially if you are in a competitive market, you may be up against other offers trying to buy the same place as you. Real estate professionals typically know which neighborhoods and zip codes are hot. They can identify this in advance, and give you a heads up so that you prepare your offer accordingly. For example, your realtor can give you tips such as putting more money down or having less contingencies to make your offer stand out amongst the rest.
Additionally, they have knowledge about local real estate prices, and who is buying where. From the sellers’ side, this is extremely important. When working with a real estate professional as a home seller, they can assist you with pricing your home at a good price based on the values of that area and that specific street. They can also help you determine how to market your property based on which types of home buyers buy in your area. For example, if your property is best suited to be purchased by a house flipper, you may not need to spend money on professionally staging the house.
Experienced real estate professionals are usually well connected within their real estate community. Many of them have a network of preferred service providers who they’ve worked with in the past and had a positive experience with. If you are trying to decide how to sell your home and what to renovate before selling, an agent can provide best practices that they’ve seen work previously. For example, they can provide you with a list of contractors, staging or title companies, home repair professionals, plumbers, landscapers, etc. On the other hand, if you’re buying a house, you’ll typically need to work with appraisers, inspectors, and mortgage professionals. Instead of reaching out to all of these professionals individually, your agent can let you tap into their network.
Every homeowner thinks that they know how much their home is worth. However, is that price reasonable? Sometimes, the emotional connection you have with your property may cloud your judgement and you’ll end up overestimating your property’s value. Some homeowners, however, may greatly undervalue their home. A real estate professional can identify local comps that are similar in shape, size, and condition to your property to help determine the value of your home. Additionally, agents can do a comprehensive comparative market analysis to evaluate all the details and factors that can affect a property’s value. This can help you get the best price, regardless whether you’re buying or selling.
Save Energy and Time
Real estate transactions are usually long and lengthy processes. By working with a real estate professional, they’re doing most of the legwork for you. If you’re selling a house, the agent can handle showings, so you won’t have to leave work and make all the appointments yourself. Furthermore, the agent can also filter the many phone calls that don’t lead anywhere, and thus, help you identify the serious buyers. If you’re on the buying side, an agent can protect you from marketing schemes of sellers. Additionally, the process of closing a real estate deal involves tons of paperwork. This includes contract documents, settlement statements, requests, offers and counteroffers, disclosures, and much more. A real estate professional will deal with all the paperwork, making the entire process stress-free and making nothing is left undone.
Overall, working with a real estate professional on your next real estate transaction will save you loads of time, effort, and usually money. Whether you plan to buy or sell a house, they can add value to either direction you plan to go.