10 Benefits of Working with a Real Estate Agent When Buying a Home
We know it can be fun to zip around the internet looking for your next home and dream about how you will spend your days there, or build a family in that home. But, when it comes time to actually purchase a home, working with a real estate agent will be an important part of the process. A buyers agent will spend a number of hours to help you find the right property and place you on the path of homeownership.
5.51 million homes were sold in the United States in 2017. Can you imagine the amount of paperwork that had to be processed in those transactions? With over two million active real estate agents across the country, you will have your pick at finding the right agent to complement your buying personality and who will help you get exactly what you need from your next (or first) home.
We have identified a number of benefits as to why working with a real estate agent is in your best interest, so let’s get started.
1. They’ll Get You a Better Price
When you use a real estate agent in the purchase process, they will help you get the most for your budget. They are there to know when a home is priced well, or too high, or maybe even too low for the neighborhood it’s in. Your agent wants your purchase price to be a great investment so you can reap the financial benefits of being a homeowner. A real estate agent is knowledgeable about what certain features are worth and how that will impact your finances for years to come. Best part, your agent is there to ensure you don’t pay too much for your home or the neighborhood it’s in.
2. They’ll Save You Time
If you ever sat down at the computer to start your home search you are already aware of how long this process can take. Searching for homes can be an endless time-consuming game. Once an agent understands the specifics of what you’re seeking in a home, they can work to weed out anything that doesn’t match your criteria. Also, agents attend events and open houses all the time on behalf of their buyers so they do not waste their buyers time. Working with a real estate agent is the best way to eliminate looking at homes that simply will not work for you.
3. They Have Listing Insights
Real estate agents are very adept at reading between the listing lines. They can prove invaluable when it comes to finding the right features for your next home purchase and sifting through that information. Not only is this time-saving, as we mentioned above as a benefit, but they can alert you to features that you might not know you want yet. Maybe you don’t realize you want a sunroom, library or butler’s pantry in your next home. Real estate agents are gem finders, this is partially why they got into the industry to begin with. Let your agent sift and sort through all the listing details so they can match you with the right property.
4. They Have the Experience to Foresee Possible Issues
Since real estate agents are constantly working on property transactions they become very good at being able to detect possible problems. This is a great benefit to home buyers, as agents are already well aware of potential mishaps that could make a deal go south. Take, for instance, that home you love and want to purchase because of its neighborhood and park-like atmosphere. An agent will know about that new proposed highway that is planned to start next year that will run about 1000 feet from your backyard. Another benefit, an agent can also pick up on why a property has been on the market so long and why it might be too good to be true.
5. They are Working for You
With everything that you have to do in the world on your own, having a real estate agent to help you buy a home, is not one of them. Property transactions are complex in nature and it’s fitting to have somebody who is working on all the specific details for you while you pick out the new carpet you want to install. Real estate agents are prepared to go to great lengths to make a real estate deal happen including back and forth phone calls, negotiation processes, paperwork filing, research and so much more. This person is working for you and understands what kind of investment you are about to commit to.
6. They Know the Lay of the Land
One of the best features of working with real estate agents is that they fully understand the city they work in. For you, this translates into market knowledge, neighborhood background and real estate insights you may not otherwise be privy to. This will come in handy when you have specifics about what kind of neighborhood you want to live in, how far you want to commute to work, or what kind of schools you want your kids to attend. For example, you might find a home that you really adore; an agent will be able to tell you more about the neighborhood as far as things like the quality of the schools, crime rates or pending commercial development.
7. They Know the Market
The real estate market is one that changes from week to week. Some changes are small like minor price fluctuations in a neighborhood, while others are more significant like interest rates. Each state, city and small municipality has their own real estate markets beyond what is happening on a national level. Real estate agents are constantly monitoring these changes for their buyers which keeps you informed of all of these volatile details so you can purchase your new home at the best possible time.
8. They Understand Complex Transactions
Real estate agents understand all of the complex processes that take place in a real estate transaction. For instance, the home inspection and being able to interpret unfamiliar details effectively to you. An agent will also understand communications from your loan officers and underwriters which will help you feel organized and highly aware of what is happening in your property transaction. As issues arise, or information is needed from you, your agent can quickly advise you on how to retrieve anything needed so your purchase can progress with less stress.
9. They are Motivated to Find You a Home
Real estate agents are highly motivated individuals as their success is predicated on their ability to find you a home. In short, if they do not help you buy the home of your dreams, they do not eat. Real estate agents don’t typically work off of any kind of salary, for the most part, they are independent contractors who are in control of their own financial destiny. You can be confident knowing that your real estate agent is motivated to find you a property so you can truly live, happily ever after.
10. You Have Nothing to Lose!
Finally, when you hire a real estate agent to help you find your next (or first) home, you aren’t making a financial investment to do so. The seller will be paying all the fees upfront while you get a qualified professional representing you before you ever place one dollar on the offer table. This person will be working hard for you from the moment you sign an agent contract, to the moment you get the keys to your home. In fact, your agent won’t likely see any compensation for their efforts until weeks after you’ve closed on your house.
We hope that you are motivated to find the right real estate agent to help you with your next real estate transaction. We suggest asking friends and family for real estate agent referrals and doing some online research to find the best agent that suits your personality or property. Some real estate professionals work within small niches that may prove to be helpful depending on the type of property you are in the market for.
Guest blog post by Dan Madrigal of Berkshire Hathaway Home Services PenFed Realty Madrigal Team Gold
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