For sale by owner or FSBO is a way to save money. This is the belief because you do not have to pay the real estate commission when you sell your home yourself, but you lose a lot when you sell without a real estate agent. Real estate agents save both homebuyers and home sellers a lot of money and time, and we will see how in this article.
Real Estate Agents Are Experts at Market Analysis
Real estate agents have the knowledge that you may not necessarily have. They are knowledgeable about the current market in the location in which you would like to purchase your next house. Therefore, when you work with a real estate agent, you will have accurate market analyses. For buyers, this means that you will not purchase a property for more than it is worth, and for sellers, it means their agents will help them find an asking price that will be competitive at the same time that it allows them to earn an acceptable profit. Real estate agents know how to collect the necessary data to meet these goals.
Real Estate Agents Are Knowledgeable about Contracts
You may be unfamiliar with real estate contracts, but real estate agents went to school to learn about how these contracts are written and what it all means. So, real estate agents know all about which side pays for the title attorney, what you need to do if there is an issue with the title, repair costs, and negotiating.
Real Estate Agents Have Connections
Real estate agents develop lists of experts in their time as real estate agents. These experts include professionals you will need, including lenders, lawyers, inspectors, and contractors. These professionals may even give you a discount because you are associated with a real estate agent. You are not likely to have these connections if you are not in the real estate industry.
Real Estate Agents Help You Avoid Costly Mistakes
At any point in the real estate journey, you could make a costly mistake. A real estate agent with experience and knowledge will steer you away from these mistakes. You can be assured that the paperwork you need to complete will be done on time and accurately with the help of your real estate agent. You will also meet all regulatory and legal requirements, and this prevents being caught up in lengthy and expensive disputes or delays.
Real Estate Agents Know How to Read the Fine Print
The number of regulations and disclosures increases with each passing year, so buying or selling a house can mean tons of documents to read. You may not fully understand these documents and the fine print that they notoriously hide, but real estate agents will ensure that you understand the fine print.
Real Estate Agents Are Expert Negotiators
At every step of the process, a real estate agent knows how to negotiate. If you are selling a house, your real estate agent will negotiate with several different people, including the appraiser, the inspection company, the buyer’s agent, and the buyer. Real estate agents are prepared to tell you when you may need a second opinion and advise you on how you can address each side’s concerns.
