Buying a home is one of the biggest financial decisions one will ever make in their life. Naturally such a decision comes with a magnitude of risks and scepticism, and as exciting the process of buying a home can be, for a buyer it can be a daunting experience. To smoothen out the process and mitigate some risks, one should always look for professional representation. Regardless of the kind of a property you are looking for, big, small, modern, contemporary, etc, a little help from a professional can help you get started and set you on a path to homeownership. A real estate agent can narrow down the options for you that perfectly fits your criteria in terms of price, neighborhood, type, etc. and then truly bring your dream home to light. A good real estate agent can help the home buyers in making the correct decision and help in adding value to the investment.
Let's look at some of the top benefits of working with real estate agents when buying a home.
Real estate market is one of the most volatile markets and is often subjected to market changes from week to week. There could be minor rate fluctuations as well as major interest rate changes. Each state, city, and municipality have their own set of rules and regulations pertaining to their specific real estate market and it is next to impossible for interested home buyers to know these minute details and nuances. Given the nature of work of agents, most of the realtors are equipped with thorough knowledge of the market and are constantly monitoring the changes as well. Hiring an agent can help the buyer in being informed about these volatile details and thus can help in making unerring decisions about the purchase.
Given their expertise and detailed knowledge of the market, the real estate agents know nooks and corners of the city and its neighbourhoods. Although most of the homes are listed on property listing websites, many sellers also want to keep the sale of their house rather private because of reasons such as, financial distress, family issues, divorce, health etc. In such cases, these sellers directly get in touch with real estate agents and therefore, most of the real estate agents will have a larger pool of listings as compared to options available online.
Some home buyers are sceptical about real estate agent costs but rather buyers should be relieved as the agents can help in getting most of the budget. These professionals are aware of the prices and would know if the property is priced appropriately. Moreover, sometimes when buyers see discounted rates or flat sales they tend to get excited, in these cases professional guidance can help in understanding the motive behind the sale such as, damaged property, poor sewage, Vaastu constraints, extensive wear and tear etc. Real estate agents are also aware of what certain features and amenities are worth and how it will impact your finances for years to come and thus help in making better and informed decisions.
Any real estate transaction comes with an array of paperworks that has to be done in compliance with city/state laws, regulations, and financial legalities. A real estate agent fully understands Legal and regulatory aspects of a property transaction, and this knowledge is imperative to make safe decisions while buying a home. A real estate agent has relevant tie ups with legal experts thus adds tremendous value in arranging right experts for critical evaluation of property documents and arranging compliance.
The paperwork can be subject to complex detailing and is copious in amount which includes documents such as, the deed, bill of sale, affidavit of title, seller’s affidavit, transfer tax declarations, written offer, repairs, etc. An agent can assist an interested home buyer through the process by ensuring all paperwork is duly completed in time and save a buyer from making small mistakes that can completely derail the deal or an agreement. Not only that, agents will make multiple copies of the documents to ensure that nothing goes missing from your files and they will also keep the new home owners’ paperwork in their archives for many years following the sale, which can come to rescue in case of any discrepancy in the later stages.
An experienced real estate agent knows how to review a home evaluation thoroughly and may not let any defects and issues go unnoticed. They know where to negotiate with the seller in terms of repair and maintenance, which without an agent a seller might try to put the burden on the buyer. Furthermore, they can further negotiate the price to accommodate any future renovations that a buyer can be subjected to. Without the help of an experienced realtor, a buyer will not be able to get the most out of the negotiation and might end up paying a lot more than they should.
When an interested home buyer works without a real estate agent it can be very time consuming. Through online listing platforms it is difficult to club viewings in the same neighborhood on the same day, however with the help of an agent a buyer can easily pick a day and view multiple houses at one go. Moreover, once an agent has an idea of what a buyer wants, they can eliminate the properties that might not be of buyers’ taste and criteria.
Like in any field network plays a huge role, same is the case in the real estate market. As realtors operating in the same market often get in touch with each other, they have access to a large pool of options in terms of property listing that might not be available online. The extensive network of the realtor will prove to be extremely valuable in an interested buyer home owning pursuits.
Buying a home comes along with making several monetary transactions in terms of home loans, down payments, installment decisions etc. A good real estate agent will communicate on your behalf with loan officers, bank officials, and the seller. As the agent will be fully aware of the property transaction, there is little to no chance that the seller or the builder will be able to deceive or mislead the buyer.
Just like any other professionals such as doctors, lawyers, chartered accountants etc, realtors also voluntarily hold themselves to a higher standard and are sworn to a Code of Ethics. Real estate agents across the world are professional fiduciaries, and are diligently guided by principles, responsibilities, and rules of conduct that have buyers’ interests in the prime place. It is their responsibility to prioritise the client while preserving the dignity and respect of the profession.
Keeping the above benefits in mind, allowing an unbiased and experienced real estate consultants can help in pricing and valuation, unemotional negotiations, writing binding contracts, and coordination needed to smoothen out the home buying process. Having a professional by your side can help sell for more, buy for less, and avoid any grave mistakes, thus acting as a saving grace in getting what the buyer wants, and most importantly, what a home owner deserves.