Nowadays, there are numerous ways by which buyers and sellers of real estate can complete all their transactions on their own. That means some may think they saved the commission of real estate by doing the work themselves. But for many, they may end up with the costlier deal while trying to crack the deal by their own. Home buying and selling is a major financial as well as emotional decision. So, you should not discard the decision of not hiring a real estate agent. Instead, hire one for getting a number of other benefits besides a good deal.
Duties of a real estate agent
Apart from just finalizing a deal for you, there are a lot more duties performed by a real estate agent. Below listed are some of them:
• Better access: A real estate agent works a full day for connecting buyers and sellers. Usually, they have easy access to properties listed by all other agents. They can easily analyze and find out the needs that have to be fulfilled for getting the deal together. Suppose you want to buy a home, they will help you find out a home that fulfils all your criteria. Besides that, they will also help you to get in touch with seller’s agents and make appointments to view the house. This whole process becomes so easy with help of an agent but if you were doing all these yourself then you have to make the telephonic conversion yourself and seek an appointment which becomes difficult especially when you are making the deal with the owner of the house. In a similar manner, if you want to sell your home, then finding out interested parties, answering all their queries and making appointments would be difficult without the help of agents.
This whole process becomes so easy with help of an agent but if you were doing all these yourself then you have to make the telephonic conversion yourself and seek an appointment which becomes difficult especially when you are making the deal with the owner of the house. In a similar manner, if you want to sell your home, then finding out interested parties, answering all their queries and making appointments would be difficult without the help of agents.
• Easy negotiation: Some people avoid real estate agents as they think if the buyer and seller directly negotiate then they can better look after their own best interests and there is a good deal. This is not that easy. Suppose you don’t like the current décor of the house then you can tell that directly to your agent and also mention the amount you have to spend for upgrading it, without directly insulting the owner about their choice. If you are dealing with the owner directly and if they get insulted by you then they might not get ready for paying the amount invested in upgrading the house. Therefore, negotiation becomes much easier with the help of an agent.
• Better handling of the contracts: Whether you are buying or selling a home through a real estate agent, then they will protect and ensure that you are able to back out of any such conditions. As they are dealing with same types contracts on a regular basis so they are aware of the conditions that must be used and the conditions that must be removed from the contract irrespective of the fact that you are buying or selling the property.
• Offer correct information: Usually, real estate agents are licensed professionals who work under an agency agreement. So, if your agent is licensed then they are bound to act by law in the interest of the clients instead of his or her own. In case you find that your agent has lied you then you can sue them through a professional association which will declare that your agent was unable to uphold his fiduciary duties. While working together both buyer and seller can take legal counsel but they should also act according to his/ her best interest.
• Provide a cost-effective deal: If you are avoiding real estate agents because you want to save some money buyers and sellers will not always get benefits of not having an agent and not paying commissions. If you want to sell your home then you will always keep the price on the basis of other properties of that area. You can keep the amount of commission as a share of profit that you have to otherwise pay to the agent. While the buyers who want to purchase a home also look for properties sold by the seller thinking they are saving the money. But actually, they are both in the loss. Agents can help the buyers negotiate and get the most cost-effective price whereas the seller gets the amount that they are expecting.
Conclusion Certainly, buying and selling homes is not that easy as people may assume. When you are in a difficult situation then you have to pay for the professionals who will help you to overcome these situations. A licensed real estate agent will always abide by the law and provide you the most cost-effective deal. Saving some money on the commission would make the property cost more. Therefore, it is wise to pay the commission to an agent and get all your demands fulfilled at the best price.