Once you’ve been pre-qualified for a loan, you’re almost ready to start looking for houses. Before doing so, you have to decide whether to hire a real estate agent or not. If you hire an agent, he will definitely offer lots of help, advice, and explanations throughout the home-buying process. But if you don’t hire an agent, you can potentially save 3% of the cost of the home. It’s a tough decision, isn’t it? Most first-time home buyers would probably do well to hire an agent. If you’ve purchased a home before, or you’re really confident in your ability to do everything, you might be able to get by without an agent. Others would simply ask, “Why do I need to hire a real estate agent?”
There are many types of properties available on real estate websites at different prices. Each and every real estate agent has their own talents and skills in buying as well as selling properties. One of the advantages of hiring an agent is that they have the right skills to negotiate with homeowners.
Also, most real estate agents can set a price on a home the minute they walk through the door. If they have a lot of experience in a market, they know how well a neighborhood holds its value too.
While anyone can spend a few minutes online and pull information on sales of comparable houses, real estate agents have the experience to know whether a specific house is overpriced or underpriced. In the best case scenario, an agent will have such a good idea of what you’re looking for that she won’t even waste your time touring houses that won’t work.
Your real estate agent may also have great information on HOA obligations for a specific building or development, and could save you huge headaches from upcoming fees or special assessments. For first-time home buyers, agents can be invaluable in helping you understand all of the added costs of owning a home such as taxes, insurance, maintenance, and the like.
Agents network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many agents will hesitate to recommend a certain individual or company over another, but they do know which vendors have a reputation for efficiency, competency and competitive pricing. Agents can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection.
If you’ve ever bought a house, you’ve probably dedicated a full shelf somewhere to the documents that were involved in the transaction. These probably include the written offer, the written and signed counteroffer, the little details (like specific repairs) and what exactly was and was not included in the sale. The paperwork can be tiresome.
This is when a real estate agent can save the day. Often, these offers and counteroffers are limited by a time frame. Agents know how to meet these time frames efficiently and effectively.
The odds of missing something, not initialing a margin or not checking a box drop substantially when you’re working with someone who knows the paperwork inside and out.
Buying or selling a property is a complicated task and therefore involves many formalities like preparing documentations or paperwork as per the norms of regulating body. Since estate agents are proficient in such dealings, they can use their knowledge to make sure the process goes efficiently as well as smoothly.