There is a plethora of information available for an investor, they can easily look up properties online or offline and do their own research before making a buying decision. Most of the investors often question the need to hire a real estate agent. Even for a seller, they believe that an agent cannot offer them much value. The common questions that a seller or a buyer contemplate are:
- Why do I need a realtor / real estate agent?
- What will a realtor do for me? I have my own research and idea about the property.
- Won’t it cost me less (eliminating agents commission) if I decide to pursue investment on my own?
- Are they worth my money?
The answer to these questions lie in the value that is there for you on the table.
Who is a Real Estate Agent / Realtor?
A real estate agent is a licensed professional, authorized to represent both the parties i.e. they can function on behalf of a seller or a buyer. The real estate is a regulated profession, and are governed by state laws, and act under the rules and law of the state. And to continue the profession of a realtor one needs to renew their license every year.
Seller Agent
A seller wants to sell their property at the highest possible value on the market. As a seller’s agent, a realtor’s job is to fetch the best value for the property and to market the property to his or her network and building a network of interested investors. As a seller agent a realtor also invests time in suggesting any renovations that will raise the value of the property.
Buyer Agent
For a buyer, the agent assists in finding the best property that suits their budget. An agent also comes with the market knowledge and expertise in suggesting a property that has potential to grow in value and reap benefits in the near future.
Why Hire a Real Estate Agent?
Knowledge & Expertise
It is always a good choice to hire a person who is knowledgeable and has expertise in the profession. Hiring an agent is always a better option if you are considering making a serious investment decision. As mentioned above a real estate is a licensed professional which makes him or her an expert in the field, who is aware of the laws, by-laws, and compliances associated with sale and purchase of the property.
Price Negotiation
It’s a popular belief that agents manipulate the property price, while on the contrary, an agent guides both seller and a buyer to a price that is beneficial to both. A seller without an agent may overvalue a property, and a buyer may shy away from an investment that is capable of price appreciation. An agent’s job here is to assess the market based on supply and demand and negotiate a price.
Genuine Leads & Listing
Sometimes a buyer can be overwhelmed with the number of listings that are for sale, and confuse the decision-making process. An agent in this situation can help filter the best property that fits the buyers budget and give value appreciation.
On the other side, a seller can get overwhelmed with the number of inquiries that he or she is receiving for a property listed on his own. Hiring a professional real estate agent eliminates such instances and make sure that only genuine and interested parties are on the negotiation table.
Market Information
It’s important to assess the market before making an investment decision or to study the market before putting a value to a property. A professional real estate agent will help both buyer and seller in knowing the market trend and make a sale and purchase decisions based on facts and figures that the market is following.
Networking
Hiring a real estate agent ensures that a property is marketed to a network that a realtor grew professionally, including their online and offline channels. A buyer can get a variety of options and they can zero down on the property that gives them a value for their money.
Handling Paperwork
Property sales and investments call for huge paperwork and documentation. A licensed real estate agent can help both the parties in doing the paperwork associated with the property and ensure proper documentation of the property.
In the end, the decision to hire or not to hire a real estate agent is your choice, but I can assure you, the underlying value is always the quality that we pay for. Agents are bound to perform under a code of ethics and serve in the best interest of their clients.