Benefits of Hiring A Real Estate Agent Real Estate by Garry Brown - January 28, 20200 Whether we want to buy a house or sell a house, we are always on the lookout for a good real estate agent. Depending on our needs, we demand different things from them. If we are the buyers, we want them to get us the lowest price possible, and if we are the sellers, we want them to earn us a profit with our properties. Based on the position, our demands from the real estate agents are dramatically different. In the end, we want the same thing from them — the ultimate sale. No matter what the reasons are, both buyers and sellers can significantly benefit from hiring a real estate agent or working with a company like GAMER Real Estate Group that is at the top of its game. Money-The Main Factor Many of you consider the “FSBO” way when listing your homes. FSBO means ‘for sale by owner.’ You might believe that this is the best way to get the best deal for your home, as you will not have to pay any commission to the agent. But in a study conducted in 2017, it was discovered that homes that were listed as FSBO went for 30 percent less than the properties that were listed by the agents. And whether you have an agent or not, your buyer will have an agent by their side, and their commission is already included in the price. So, the only thing that you have saved is your own agent’s commission, and that is not much as you probably won’t get the price that you asked for. If you don’t take into account the commission, there is still the matter of getting a good price. Agents that have great local knowledge and are into the market know what to do to make a great deal. They can advise you about the different ways you can update your house so that it gets the best price. Attention to Detail Buying or selling a property is not as easy as it sounds. There is red tape and much documentation involved. No matter how observant you are, you might not be able to comprehend and review the various documents that are involved in the real estate deal. There are the purchase documents, the federal state, as well as local documents that you need to read, understand, and handle. Whether you are buying a house or selling a house, a wrong entry or an omission can cost you a lot of money. By hiring an agent, they will make sure that you don’t fall on the wrong side of the fence. Since they are representing you, they will know what to do as they can properly guide and help you throughout the process. Real estate agents must have taken care of dozens of deals, and their familiarity with the entire process is what makes them so beneficial for you. For example, if you are the buyer, then your purchase of the property depends on you getting a mortgage. Without the mortgage, you won’t be able to afford the property. Therefore, you have to get financing. But if your purchase agreement doesn’t have the clause that lets you out of the deal if you can’t get the financing, then you are stuck between a rock and a hard place. As a result, your only options left are a) to either go through with the deal or b) get sued. A small commission fee is worth all the trouble that you might get into without a good real estate agent by your side. Privacy, Confidentiality, and Fiduciary Duty Real estate agents have a responsibility towards you. This is called the fiduciary duty, and it means that they are legally obligated to put your interests first. This means that whether you are the buyer or the seller, your real estate agent has your back. With the fiduciary duty comes the trust and faith that is needed as well as confidentiality. As a buyer or a seller, you will be divulging some of your personal and confidential details, and you don’t want to do that in front of your counterpart. They are under no obligation to keep your details a secret. Also, there is the matter of the other real estate agent who is representing your counterpart, and they too have no responsibility towards you. If you have a real estate agent by your side, they will know what information you need to give and what information you should keep to yourselves. Know What to Look For As far as buyers are concerned, they know what they want. They are aware of the number of bedrooms that they want, what kind of garage the property should have, and all the other factors that the property should or should not have. But there are other issues that they can face as they are not aware of them. These can include anything from the position of the furnace, roofing problems, mold, and everything else that might affect the quality of life of the resident. Not only do the real estate agents are familiar with the problems that might arise, but they also know how to handle them best. Since they have been working in the field for quite a while now, they must have handled them often. Moreover, agents also know the fluctuation in the price of the property that has such issues and can best negotiate a reasonable price. The Bottom Line Many things can go wrong when you buy or sell a property. Therefore it is essential to hire the best real estate agent in town so that you can experience a smooth experience and achieve your objective without any incidents of a loss or worse a fraud.