Why Real Estate Agents Are Important to Home Buyers and Sellers
Finding a real estate agent is an important part of the home buying or selling process. Many people rely on personal referrals or search online to find an agent.
Real estate agents have a wide range of skills and knowledge to help you with your transaction. They can also recommend mortgage lenders and help you get preapproved.
They Help You Buy or Sell a Home
You don’t have to work with a real estate agent when buying or selling property. But, like changing the oil in your car, things start to break down pretty quickly without one.
Buyers can benefit from an agent’s objectivity in the home-buying process, helping them meet their purchasing objectives while staying within budget. And, as a seller, an agent can help them make a quick sale and maximize their return on investment.
A good real estate agent can also determine how much a property is worth, making use of comps, or comparable properties in the neighborhood, to establish an accurate listing price. They can also advise on curb appeal and staging to help a home sell quickly.
If a home inspection or appraisal reveals any unexpected issues, such as radon or termites, your real estate agent can help you renegotiate with the seller. They can also double-check the closing paperwork to ensure it is error-free, which can save you time and money in the long run.
Before you hire a real estate agent, check with your local realty board or association to make sure they are licensed and have a clean record. You can also check online for any disciplinary actions against them. In addition to a license, agents must complete prelicensing training that can vary by jurisdiction.
They Help You Get Preapproved for a Loan
A real estate agent can help a home buyer navigate the process of getting preapproved for a mortgage. This step is crucial to home buying. It gives you an idea of your budget, and it allows you to submit offers faster if you find a home that meets your needs. Your agent can work with a variety of mortgage lenders to get you the best deal possible.
For those looking to sell their homes, a real estate agent can help them price the property right and stage it for showings. They can also assist in finding home inspectors and real estate attorneys. Additionally, they will help oversee the closing procedures.
In addition to guiding you through the home-buying or -selling process, a real estate agent can offer advice on local schools, crime rates and more. They can also point out neighborhoods and properties that may have the most potential or are most affordable.
When selecting a real estate agent, it is important to consider their previous experience and education. Ask for a list of references or testimonials from past clients. You can then speak with them to learn more about their experience and whether they are a good fit for your needs. Also, ask the agent if they have any specialties that align with your goals. For example, if you’re interested in buying a condo, your agent can connect you with a specialist who can provide expert guidance on the condominium process.
They Help You Find a Home That Meets Your Needs
Whether you’re buying or selling, the right real estate agent can help you navigate the process. They’ll know your area’s home values and neighborhood perks, help you get preapproved for a loan, set up showings, and more. They’ll also have a keen eye for finding homes that meet your needs, such as a pool or great school district.
When you’re looking for an agent, ask friends and family for recommendations or look online. A good starting point is the National Association of Realtors website, which has a database for local agents and allows you to filter by your search criteria. Make sure you select an agent who’s a member of the NAR, which means they have met a standard of professionalism and agree to a code of ethics.
Once you’ve identified a few candidates, interview them. Look at their sales history and see how many homes they’ve sold in your price range. Also, pay attention to how well they communicate with you during the interview — it’ll give you a sense of their availability and working style.
Some agents can represent both buyers and sellers in a transaction, but they should disclose that up front to avoid conflicts of interest. Other agents are exclusive buyer’s agents, which means they only work with home buyers. These agents won’t show you homes that are already on the market and can save you time by not wasting yours.
They Help You Negotiate
As you begin negotiating the sale of a property, your real estate agent can help you find compromises on all aspects of the deal. This includes the price, terms and conditions of the contract. They can also guide you on which items will be negotiable and which ones will not.
During negotiations, you want to remain calm and confident. This helps you show the other party that you mean business. As a result, you are more likely to get what you want in the end. To stay calm, take a deep breath and think before you speak. It also helps to listen to the other party and find common ground.
When preparing for negotiation, you should familiarize yourself with the local market and know what properties are selling for in your area. This insight will help you evaluate offers and determine whether they are too low, too high or right in the middle.
Once you have a good idea of what you want, your real estate agent can help you establish a realistic budget. They will review your financial situation and mortgage pre-approval, and they will take into account your financial goals. They can also recommend lenders who are experienced with working with home buyers in your area. In addition, they can provide insight on the neighborhood and other market factors that may influence how much to offer.