As a home buyer or seller, it is obvious that you don’t want to send money on brokerage charges. When it is possible to find homes online and sell your home yourself, known as “for sale by owner” (FSBO), then why you should hire a realtor or real estate agent. Buying or selling a home on your own may seem like a smart idea to save hundreds of dollars. A DIY approach may save a standard real estate agent’s commission of 5% to 6% on the home’s price. However, if you look at the bigger picture, you may want to reconsider your idea of handling everything on your own.
It is tempting to avoid hiring a real estate agent and save the commission. However, the risk of DIY buying or selling often outweighs the benefits of seeking the services of a realtor. For instance, first-time homebuyers usually don’t know how to negotiate properly. Also, both buyers and sellers don’t have enough free time to dedicate to finding clients. You might think that a real estate agent can misguide you into making a wrong deal to maximize their own profit. However, licensed real estate agents and realtors are registered with regulatory authority and are bound to follow its rules. Both homebuyers and sellers can benefit from hiring a real estate agent and here are some compelling reasons to hire an experienced realtor.
Get Access to More Properties
When looking for a home, you need access to multiple listings to find a home that suits your lifestyle, budget, and taste. When searching online without professional assistance, you will get access to only a few properties. However, real estate agents have wide access to all properties listed in different areas. Your agent will consider your needs and budget to find a house that matches your criteria. For home sellers, agents help in connecting to more buyers by advertising the property on their website. More buyers you get means higher chances of getting a better price.
Market Knowledge
The experienced real estate agent has in-depth market knowledge that helps buyers and sellers make an informed decision. The agents know the current market value of properties and help you know whether or not you’re making a sound investment. The agent will assist the buyer to get the best possible price while sellers can seek the assistance of a realtor to avoid underpricing or overpricing their property. Their market knowledge and negotiation skills help in speeding up the home buying and selling process. Moreover, both buyer and seller benefit from their market knowledge and get the best possible deal.
Handle Paperwork
The entire process can be quite complicated. Whether you’re a buyer or seller, real estate transactions involve complex paperwork. If you don’t know real estate industry, there’s a risk of making errors. To ensure hassle-free completion of all the paperwork while following the right legal procedures, make sure you hire a real estate agent. These professionals have complete knowledge to help you buy or sell a house. Your agent can handle all the paperwork and make the entire process smooth and hassle-free.