A real estate agent acts as a go-between for buyers and sellers who are on opposite sides of a deal. Hiring a real estate agent can save you thousands of dollars because an experienced agent knows what to look for. While you might be most concerned with finding an open floor plan, agents notice things that you might not, like roof damage, or issues with mold. Buying or selling a property isn’t as straightforward as it seems. Everyone involved wants a sale, but hiring a real estate agent can benefit both parties in moving forward.
Professional Negotiation Skills
It might seem simpler for buyers and sellers to speak directly, but communications can get out of hand. Tensions run high where financial risk is involved, but real estate agents have professional negotiation skills. Hiring a real estate agent means someone will speak on your behalf, smoothing things over, and preventing any conflict from becoming toxic, so both parties can meet in the middle.
Unless you’re an attorney, you’re probably in over your head when it comes to estate documents. On average, purchase agreements are at least ten pages long. Real estate agents handle a lot of paperwork, so you don’t have to. Part of their responsibility is to sit down with you and review the contract. You’d never want to sign something you didn’t fully understand. For example, it’s important to make sure you’re able to back out of a deal if you aren’t approved for a mortgage. Otherwise you could end up in court. A small mistake could cost thousands of dollars, but an agent’s experience means they’re familiar with red flags, and how to best protect you.
Local knowledge and property access
If you decide hiring a real estate agent is right for you, he or she will have knowledge of the local housing market, covering topics like zoning laws, schools, and reasonable home prices, as well as other factors specific to the neighborhood. Additionally, hiring a real estate agent makes it easier to view properties. A licensed agent will have access to homes even when the seller is unavailable. However, if you’re house hunting on your own, there are more scheduling obstacles.
Hiring a real estate agent provides you with a buffer of confidentiality. Agents have a fiduciary obligation to their clients. This means they bear a legal responsibility to act in the best interest of the clients they represent. This includes protecting your private information, such as your identity.
While going it alone is possible, hiring a real estate agent has no upfront cost. In fact, their guidance will help save you time and money. Buying or selling your home can be a stressful process. Allowing a third party to negotiate on your behalf, will prevent you from unforeseen mistakes.