Why Use a Realtor? Top 7 Benefits
When it comes to property sales, the seller and buyer stand on opposite sides of the fence. The buyer wants to purchase the property at the lowest possible price, whereas the seller wants top dollar for the same. In such cases, both parties can benefit from using the services of a realtor. A realtor is a licensed professional who works as a spokesperson between buyers and sellers in property transactions. In this article, we explore the benefits of working with a realtor.
Why Use a Realtor?
Here are some reasons why you should use a realtor when buying or selling a property.
Comprehensive Market Knowledge
No one knows about the current real estate market conditions and trends better than realtors. If you’re investing in property, this is one of the key benefits and reasons for working with a realtor. These professionals are well-versed with the aspects of the housing market, especially how numerous factors such as the unemployment rate and mortgage interest rates can influence it. They even have intimate knowledge of the listings for both sellers and buyers.
The kind of real estate data they have includes the average and median sales, the average price per square foot of similar properties, etc. Other market knowledge that only a local realtor will know includes which neighborhoods are located near top schools, which localities witnessed the highest increase in market value over the years, and what are the most promising projects in a particular area.
Assistance with Property Pricing
When you’re selling your home, your main goal is to sell your home as quickly as possible at the highest possible price so you can move on to your next location. Nevertheless, a major factor in making a rapid sale is making sure your house is correctly priced for the market.
Being the homeowner, it is easy to believe you know your home’s worth. However, there’s a bit of subjectivity that goes into your pricing. A realtor uses a more fact-based process that encompasses pulling comparable recent home sales within a pre-defined radius and assessing your home against these to determine a fair asking price. They can help you set a price that makes sense for the real estate market in your area.
Personalized Shopping Support
The home buying process can be quite overwhelming for first-time buyers. In fact, even experienced buyers find it challenging to keep up with all the details.
The best realtors spend their time searching for homes that meet your requirements, devising contracts, advocating on your behalf, and generally supervising the process. Having an experienced realtor work with you can be a huge source of relief, especially when you have large sums of money on the line.
Realtors owe certain responsibilities to the clients they work with. This means they have an ethical and legal obligation to cater to your needs, which can include:
- Providing disclosures.
- Working for your interest in the transaction.
- Keeping information secure and confidential.
- Offering guidance.
Assistance with Paperwork
Selling or buying a home involves a tremendous amount of paperwork. Some of these documents can include:
- Bill of sale
- Sale deed
- Affidavit of title
- Transfer tax declaration
- Written offer
When it’s all said and done, you will probably have a whole shelf dedicated to the purchase of your new property. With all this paperwork comes records, signatures, and multiple copies. A realtor can help you track the paperwork and, most importantly, make sure that everything is complete and signed.
A lot of realtors will also keep your paperwork on file for several years after the sale. Even though you should definitely keep all this paperwork, you can contact your realtor if you have any concerns or questions down the road.
Access to Professional Networks
Realtors are professionals at networking. They know almost everyone involved in the process of selling and buying a house. A lot of them will have a list of preferred providers who they’ve worked with previously and who they trust. This is one reason why you should work with a realtor that both sellers and buyers will find quite valuable. For instance, if you are selling a house, a seller’s agent will provide you with a list of staging companies, painters, plumbers, landscapers, title companies, home repair professionals, contractors, etc.
Buyers also have to work with professionals, including appraisers, inspectors, mortgage professionals, and real estate attorneys. Rather than researching these specialists individually and reaching out to them on your own, you can leverage your buyer’s agents network. This is incredibly helpful for a beginner real estate investor as it will help you start building your own network of professionals whom you can trust and depend on for potential property investment transactions.
Negotiate Offer Price
A realtor knows the local market better than you do. Thus, they can let you know when you can push for a better deal. Market conditions change every month, rather every season, and your realtor is well-versed in these fluctuations. For instance, just because you are purchasing in a seller’s market, it doesn’t mean you won’t be able to negotiate – it all boils down to the individual property, seller and price.
A competent realtor can even gain pricing insights by talking to the listing agent. For instance, before you give an offer, your realtor can ask the seller’s agent how willing they are to negotiate the price.
Saves Time and Energy
A property transaction is never easy, particularly if you don’t have the required experience. Doing it yourself can take up a lot of energy and time. If you’re a home buyer, it can be difficult to search for the available home that meets your criteria. At the same time, sellers might find it challenging to find a client who’ll purchase their home at their set price.
Having a professional with the required skills and knowledge will give you sufficient time to pursue your everyday activities while having little to worry about selling or buying your home.
If you’re planning to buy a new house or sell your existing home, head over to The Hershenberg Real Estate Group. We will help you buy and sell properties in North Texas! Head over to our website to learn more.