Clients often wonder whether there is a need to hire a real estate agent and pay a commission when there is so much information available online. While there are people who are able to negotiate the deal on their own, it doesn’t work out for quite a few. Here are some reasons why it is a good idea to have a hired professional on your side.
Information on the condition of the market
Because they have years of experience, real estate agents have vital information regarding market conditions that will eventually govern the process of buying or selling a property. A real estate agent has valuable information on the average cost per square foot of homes that are similar, the average sale prices and other such criteria. This will have a significant bearing on the price you ultimately pay.
Checking if the price is right
Online real estate sites give a lot of information on the prices and estimates of properties. With a click of a button, you can even compare prices with similar properties.
However, while these figures are by and large reliable, they cannot in anyway replace the judgement of an experienced real estate agent who can tell you if the house is correctly priced by just walking into a home and looking around.
They have connections
Real estate agents who have experience will be able to connect you with all the professionals you will need through the process of buying or selling your house. This includes inspectors, mortgage lenders, lawyers, moving companies and contractors.
The right assistance
A real estate agent is the right person to guide on prices as he or she has the knowledge regarding the ongoing market trends and rates; not to mention the rates in specific areas. Depending on the supply and the demand the agent can help you negotiate a fair price.
Negotiating is not an easy matter
There are many people who are averse to the idea of conducting a property deal through an agent and feel that it is better to directly handle the negotiation with the buyer or the seller as the transaction is more transparent.
This can work if the buyer and seller are both reasonable people who can get along well. As this isn’t always the case, it can get very tricky.
Experience and education
If you hire a real estate agent, there is no need to arm yourself with knowledge about buying and selling property. Henry Ford once stated that by hiring people who are smarter than you, you prove you are smarter than them. Find the right agent; and you can prove this to be true.
Skills that include negotiation and confidentiality
Because the estate agent is removed from the emotional side of the transaction, he can use his skills to negotiate well. This is a vital part of their job description. Ideally, real estate agents don’t just act as messengers between buyers and sellers. They are proficient in presenting the case of their client in the best way and believe that client confidentiality is sacrosanct.
There is no doubt that there are people who are able to sell their own houses using websites and the internet. However, the process in not quite that simple. When things get tricky, it is really much better to have a professional helping you out.