If you're thinking of buying or selling your home, but don't know an agent, chances are you'll begin your search on your own. This article is dedicated to those people who do believe representation by a real estate propfessional is becoming obsolete.
Buyers and sellers don't need real estate agents to help them find each other. Technology has enabled them to do that without professional real estate agents. If your view of an agent is that of a "house finder", or "buyer finder", then you've already made up your mind- agents are useless.
In the long run, that would be a short-sighted view of what a good agent should be doing for you!
The main reason to hire an agent is for representation - marketing if you're a seller, professional guidance and negotiation for both buyers and sellers alike, so that you're able to get the best price and terms possible given the current market and house involved.
Buyers - your agent can give you a heads up on the red flags of properties or areas you may be considering, that you otherwise would be unaware of if you're not from the area. Also, be able to provide you ways to investigate issues, suggest approaches, explain possible consequences, and so on. For example, a good agent will not just unlock the door to the home you're going to see, but will point out to you any issues such as buckled hardwood floors, sagging ceilings, possible mold - and why all those things matter.
Sellers - a good agent can provide you objective feedback (on your home's condition, what can be done to increase marketability, etc.) to best position your home to sell and can guide you through the process of attracting the buyer who will give you the best price and terms for you home.
For both, the knowledgeable, dilligent agent will help you to understand the disclosures, the contract and the sales process and will negotiate for you to get you the best price and terms possible to help you to acheive what you want to acheive (wether you're the seller or buyer). That good agent will give you data on the market conditions, recent comparables etc., and will help you to make sense of it. Having information is not the same thing as having knowledge. A good agent will navigate and troubleshoot anything that might arise prior to closing.
A good agent will not just make buying or selling easier, but guide you, protect your interests, inform you, and help you to maximize your position in the transaction and minimize the chance that problems will creep up after closing.
Just like when people opt to hire an attorney to assist them with a will and trust rather than get a do-it-yourself kit from Wal-Mart, most people realize that buying and selling real estate is very complex and includes complicated paperwork (contracts, disclosures, closing papers), issues that may need to be spotted in the property itself, professionals who may need to be called in to help with particular problems or surprises, as well as the countless small details that need to be handled to get the transaction to closing.
While there will always be a reason for some consumers to sell on their own or with very limited assistance, the vast majority of real estate transactions are involved enough that buyers and sellers are greatly benefitted by professional real estate representation.
Wednesday, March 31, 2010
Why use a real estate agent?
Labels:
a good agent,
buyers,
current market condition,
sellers,
using an agent
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