The ugly but honest truth about why you should work with a Realtor when buying or selling real estate!
Are you looking to buy or sell a home? You probably think all the information you’ll need is online…
You may be wondering why you should work with a Realtor. I am not going to argue that you can’t do it on your own…
Just because you can doesn’t mean you should!
Did you know that in 2012, 88% of sellers and 89% of buyers used a real estate agent? Why would you want to go against the stream when it could cost you so much?
Buying a home is probably the most significant financial decision of your life. You must work with a Realtor if you want the best results.
Check out these powerful advantages of choosing a realtor when you buy or sell real estate!
A Boxer Has a Team in Their Corner
Boxing can be brutal but it is also called the sweet science. Real estate can also be brutal and has a science to it.
Boxers rely on having a team in their corner to ensure their victory. You can do the same thing by having the appropriate real estate professionals in your corner.
When I say “working with a Realtor”, it means you have signed paperwork with an agent. The paperwork can be either a listing contract or a buyer’s agent agreement.
Once you start working with a Realtor, they have a fiduciary obligation to you. This means you have an expert who is looking out for your best interests. Your real estate agent is required to do everything (that is LEGAL, ETHICAL AND MORAL) they can to protect you and your interests.
I should not have to tell you how important that is!
Real estate laws and regulations are complicated and change all the time! Every transaction and every property is different.
Most people buy a new house every seven years and a lot can change in seven years. Real estate agents must stay up-to-date with real estate regulations, laws and contracts. By working with a Realtor, you benefit by using their knowledge and experience.
I must also mention that there is a difference between a real estate agent and a Realtor. Not all real estate agents are members of the National Association of Realtors (NAR).
Real estate agents that become a member of the NAR take an oath and swear to adhere to the Code of Ethics. The Realtor Code of Ethics makes sure that consumers are dealt with in a professional and ethical manner!
Under the Code, the Realtor must put the clients’ interests before their own. They must make full disclosure about any issues with a property. They must be honest in their advertising and marketing.
While Realtors such as myself take the Code of Ethics very seriously, sadly it isn’t a guarantee. The very scary tale of Todd Kohlhepp shows that no one can rely upon an oath to protect us from evil.
I suggest checking online reviews, getting recommendations from friends, family, and co-workers. Check with the South Carolina Real Estate Commission for their license status and any board actions.
Buying or selling real estate is a serious financial transaction. You must make sure your real estate agent is honest, ethical and working to get you the best possible deal!
You must work with the right Realtor when buying or selling real estate!
Realtors Know The Correct Price
There are plenty of websites that will give you estimates for a property but they are not very accurate. It’s easy to spend a couple of minutes on the web and find info on comparable homes for sale.
However, an experienced local Realtor will know if a home is priced correctly. When buying, your buyer’s agent can look at the local market data to tell you what to offer.
When selling a home, your Realtor will use the same market info to make sure you list at the best price. When you are selling a home, it is understandable that you want to make as much as possible.
However, it’s money well spent to use a Realtor when selling a home! Overpricing a home leads to a home taking longer to sell and selling for less money!
Internet home values are entertaining to check but they are not very accurate. Tax records are often outdated and the county tax value can be too high or low.
However real estate agents understand the home values in their local housing market. Realtors have the most up to date home prices and can use it to make sure you get the best possible deal!
Realtors Know The Local Real Estate Market
Is today the perfect time to purchase or sell a property? You may not know but a good Realtor will know. A good local Realtor is your go-to expert about the local housing market.
An experienced Realtor knows the area like the back of their hand. They can help you find a home that is a hidden gem. If you want the best possible price and terms, use a Realtor!
Realtors have daily access to local real estate market trends that you do not. The first thing they do in the morning is check the MLS. The last thing they do before they go to sleep is check the MLS.
All day, every day, they’re scouring the MLS! They know exactly what is happening in your local market. They can spot market trends long before the average buyer or seller!
There is no doubt that the Internet is awesome. You can find all sorts of information. Remember that some of the info you find may not be correct or up to date!
There is a difference between having information and having the knowledge and experience to use information correctly!
With online real estate listing sites such as yours Zillow or Trulia, you can find homes for sale on your own. But sometimes those homes are already sold or under contract…
In the past, you could rely upon these types of real estate websites to find homes for sale. But not in today’s fast paced real estate market!
Realtors Are Skilled Negotiators
Are you a strong negotiator? Any time you buy or sell a home, there will be negotiating! In today’s hot housing market, those negotiations can get costly if you do not know what you are doing!
You must have a real estate agent to handle all the negotiations. The other person in the deal will have their own Realtor. Why would you make such a complicated financial transaction without professional representation?
It’s not only about the contract price! A skilled Realtor will help you with your unique requirements and budget. This includes things such as dates, inspections, contingencies, etc etc!
Today’s real estate contracts are long and complicated. Realtors can help you navigate the contracts using their experience and knowledge!
Time is Money in Real Estate
Let’s face it: time is money. Unless you can take off work to handle your real estate transaction, you will not have the time. Realtors devote their time focusing on their clients.
Your real estate agent will deal with showings, inspections, negotiations and everything else. While this is only a small part of your agent’s job, do not underestimate it’s value!
Realtors Help You CYA
If you’re selling or buying a home, you don’t need to know everything about real estate! IF you don’t, then you hire a Realtor!
An experienced Realtor can recognize issues with properties that you might not see! Their experience, education, and knowledge protect you from these problems!
You do not know what you do not know!
A real estate agent will be able to identify problems that could bite you in the butt. They are going to be an impartial and unemotional voice of experience that can prevent you from missing any issues when buying a home!
R.H. Grant, former president and chairman of the Reynolds & Reynolds Company, once said:
When you hire people who are smarter than you are, it proves you are smarter than they are.
When you want something done right, you call a professional. Whether it is fixing your car, a home repair, or your taxes…
It is in your best interests to hire someone that knows what they are doing! Sometimes it will cost you more in the long run if you don’t use a professional.
Realtors Can Deal With The Paperwork
Do you enjoy working with legal contracts and complicated paperwork? Selling or buying real estate involves a large number of documents besides the contract.
This is another important reason to work with a real estate agent. Your Realtor will deal with all of the required documents for your transaction. If you’ve ever bought or sold real estate before, you already know there is lots to take care of.
Leave the contracts for your real estate agent to deal with. They have the experience to help you get the best price while protecting your interests. The odds of messing up the paperwork decrease significantly when you are using a Realtor.
Working with a real estate agent means you avoid delays or costly contract mistakes that will seriously hurt your bottom line.
Realtors Know a Guy or Gal
Realtors might not know everything but sometimes it seems like they know someone to handle any situation. A real estate agent will know everyone who can help you when buying or selling real estate.
The people that your Realtor can help you with include mortgage brokers, attorneys, inspectors, stagers and more! Their list of reputable local experts is almost endless and will be a great aid to when buying or selling!
The Take Away