For most people, buying or selling a home is the most critical financial decision they’ll make in their lifetimes. Purchasing and selling (you have to spend some to make some) a property requires a lot of money, so homeowners and buyers must make informed decisions.
Buyers need to spend their time looking at multiple houses and evaluating the pros and cons of each before deciding on one they find suitable. Sellers, on the other hand, need to make sound investments in their property to hike up its value and increase their asking price.
Both buyers and sellers can benefit from the expertise of an experienced realtor. Realtors provide useful insights that enable their clients to make wise decisions regarding buying and selling a property.
If you’re currently a buyer or a seller in the real estate market, here’s why you should hire a realtor:
1. They Have Extensive Knowledge of the Market
Hundreds of factors impact the real estate market on a daily basis. For example, growing investments by immigrants can drive property prices up. The same happens when large retail businesses open up in an area.
On the other hand, if more and more residents leave an area, there will be a drop in real estate prices.
It’s a realtor’s job to stay up-to-date with the economy and market trends, so they can advise clients, enabling them to make sound decisions. Realtors don’t just help clients buy and sell properties; they also offer crucial financial advice.
Aside from providing financial knowledge, realtors also assist with the technical side of property transactions. They take care of all the documentation and ensure that clients’ interests are always protected.
As a property seeker and a seller, you need a sharp realtor in your corner!
2. It Saves Time and Effort
Many home sellers are under the impression that merely listing their house on a property website is enough to find a buyer. The issue is that thousands of other sellers are doing the exact same thing.
How are you going to distinguish your listing from the thousands of others out there? What is it that’s going to make a buyer choose your property over all the others?
As useful as property websites are, simply uploading the details of your property on them is not enough.
Realtors are specialists in marketing the properties they’re hired to sell. They use multiple channels to promote your property to maximize exposure.
The more visible your property is, the higher your chances of finding a buyer and getting a great deal.
3. They’ll Have Knowledge of the Neighborhood
Most people move to new houses when their needs change. A couple who’s looking to have kids will want a bigger house, while someone who’s going through a divorce will want something smaller.
Real estate agents know neighborhoods inside out. They don’t rely on external resources because they have intimate knowledge of the streets and specific properties.
Realtors are armed with insider information. If a property has been on the market for a while and isn’t selling, they’ll know; if the seller is in a rush to get a property off their hands, they’ll know that too.
They’ll find similar properties in the area as well, so you can compare and find the best one.
4. They Will Preempt Market Conditions
You may not know how property prices in a specific market will change in the future, but a realtor will. Realtors keep a close watch on market trends. As part of their jobs, they must possess immense market knowledge, so clients can make informed financial investments.
The real estate market is heavily impacted by unemployment rates, interest rates, economic fluctuations, and other related factors. Realtors assess all of this information and use ratios to help clients make sense of all the numbers.
5. They’ll Help Set the Price
In an attempt to get the most out of a transaction, sellers tend to overestimate their property. And while they wait for a buyer who is willing to pay their asking price, time passes, and their house remains on the market for longer than it should be.
Properties that have been on the market for too long get a bad rap; people assume that there must be something wrong with them. The longer a property has been listed, the more leverage the buyer has.
Realtors assist home sellers by setting a price that matches the property’s market value; this way, you won’t scare potential buyers away. Real estate agents will also look at specific features of the house that can be used to hike up property value and increase the price.
For buyers, realtors will make sure that their clients don’t end up getting the short end of the stick during the transaction. They’ll partner with appraisers and home inspection companies to ensure that their clients are making a good decision.
6. They Tap Into Their Professional Networks
Real estate agents spend years building a reliable network of individuals who can they can count on for advice.
They can refer you to contractors, home inspection experts, and real estate lawyers, among other industry veterans.
7. They Will Negotiate On Your Behalf
Are you not a great negotiator? No problem! That’s where your real estate agent’s skills come in.
Real estate agents are masters at negotiating deals. They know when to be firm and when to be flexible. Because there’s a good chance the other party has hired a realtor to negotiate on their behalf, it’s best to have a real estate agent on your side too.
A real estate agent puts their client’s interests first and will make sure they’re making a worthy transaction.
8. They Take Care of the Documentation
All property transactions involve extensive documentation. The paperwork needed for real estate transactions is complex; it consists of offers, requests, and conditions, as well as state and federal requirements.
A real estate agent will take care of all of this paperwork for you, so you don’t have to worry about doing it yourself. They’ll ensure that your documents are in accordance with state and federal laws to protect your interests.
9. Advice During the Closing Process
Closing a real estate transaction may seem easy from the outside, but once you’re in the middle of one, you’ll understand how complicated they can get.
Real estate agents provide valuable advice during and after the closing process on issues like the cost of repairs, taxes, and home inspections.
They’ll recognize issues with the contract and problematic clauses that need to be fixed.
10. They’re Long-Term Partners
Because real estate transactions involve large investments, you’ll develop a trusting relationship with your realtor over time. Most buyers and sellers will refer their realtor to their friends and family, and call them when they’re looking to buy/sell again.
If you’re looking to sell your house or purchase your dream home, contact a realtor in your neighborhood who understands your needs.
Working under the Fathom Realty banner, Philip Fehler is an expert realtor in North Carolina. To buy or sell houses in Fayetteville or military housing in Fort Bragg, get in touch with him here or call at (910) 381-1341