1. Education & Experience
You don’t need to know everything about buying and selling real estate if you hire a real estate agent who does. Henry Ford once said that, when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find the right person. Why not hire a person with more education, knowledge, and experience than you? We’re all looking for more precious time in our lives, and hiring a professional gives you that time, plus a freedom from worry.
2. Real Estate Agents are Buffers
Real estate agents take the “spam” out of your property showings and visits. If you’re a real estate buyer of a new home, your agent will represent your best interests when negotiating with the builder.
3. Neighborhood Knowledge
Real estate agents either possess intimate knowledge or they know where to find the industry buzz about neighborhoods. They can identify comparable sales and hand this information to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics.
4. Price Guidance
Contrary to what some people believe, real estate agents do not select prices for buyers. However, an agent will help to guide clients to make the right choices for themselves. Selling real estate agents will ask buyers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the real estate agent will devise a negotiation strategy.
5. Market Conditions Information
Real estate agents can disclose market conditions, which will govern your buying process. Many factors determine how you will proceed. Data such as the average per square foot cost of similar homes, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.
6. Professional Networking
Real estate agents network with other professionals, many of whom provide services that you will need to buy or sell. Real estate agents can give you a list of references with whom they have worked and provide background information to help you make a wise selection.
7. Negotiation Skills & Confidentiality
Top producing agents negotiate well because, unlike most buyers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It’s part of their job description. The best real estate agents are not messengers, delivering buyer’s offers to sellers or vice versa, relaying no longer for sale home listings, selling clichéd advice. They are professionals who are trained to present their client’s case in the best light and agree to hold client information confidential from competing interests.
8. Handling Volumes of Paperwork
One-page deposit receipts were prevalent in the early 1970s. Today’s purchase agreements run 10 pages or more. That does not include the state mandated disclosures. Most real estate files average thicknesses from one to three inches of paper. One mistake or omission could land you in court or cost you thousands. A Texas-licensed Realtor® is familiar with all the necessary paperwork to complete the transaction.
9. Answer Questions After Closing
Even the smoothest transactions that close without complications can come back to haunt. Many questions can pop up that were overlooked in the excitement of closing. The best real estate agents stand by, ready to assist.
10. Develop Relationships for Future Business
The basis for an agent’s success and continued career in real estate is referrals. Few agents would survive if their livelihood were dependent on consistently drumming up new business. This emphasis gives the real estate buyers’ agent strong incentives to make certain clients are happy and satisfied. It also means that an agent who stays in the business will be there for you when you need to hire a real estate agent again.