First off, I would like to ask you: what are you intending to do – buy a new property or sell one? You need a Realtor! Here are the reasons for hiring a realtor to help you decide
Are you also one who is lost whether to hire a realtor or you plan to do it yourself? Then, ask yourself these questions, “Am I qualified to sell my home? ” “Am I ready to handle the negotiations and paperwork in selling my property?” “Am I knowledgeable of the market and the pricing of real estate?“
If your honest answer is yes, give it a try and I encourage you to keep reading this post. If your answer is NO or I DON’T KNOW, then, you must read this.
Find a Realtor or FSBO?
You may be able to sell your own home. In the real estate industry, it’s called FSBO or For Sale By Owner. But you know, people who try to sell their property alone, end up listing with an agent after four months.
Below are some of the Home Buyer Statistics from the 2020 National Association of REALTORS® wherein they gave the percentage of where buyers found the home they purchased:
- Internet: 51%
- Real estate agent: 28%
- Yard sign/open house sign: 7%
- Friend, relative, or neighbor: 6%
- Homebuilder or their agent: 5%
- Directly from sellers/Knew the sellers: 3%
These statistics clearly show that many have realized the benefits of hiring a realtor.
Reasons for Hiring a Realtor
Why is it good to have a realtor?
A Realtor Handles Legal Matters Correctly
Whether you’re buying or selling, you should have a complete grasp of what you’re getting into. You may feel out of your element when it comes to studying and understanding the necessary documentation involved in a real estate deal. In 2019, purchase agreements can easily exceed ten pages, not to mention federal, state, and municipal document requirements. Today they start with 12 pages, not including the addendums, disclosures, inspection clauses.
Do you know how to convey real estate in the state where you live? Would you hire a title attorney, a settlement officer, or just go to the County Clerk and file the contract? Do you know how to market your home on the internet and have professional contacts and networks? Do you know how to qualify a potential buyer and assess the strength of an offer?
Fortunately, your agent will be far more knowledgeable about all of this documentation than you are. If you’re still considering not hiring a realtor to save money, consider the following: Some errors or omissions in these documents can cost you as much as—or even more than—the commission you were hoping to avoid paying.
Your Privacy and the Confidentiality of documents are all under the Fiduciary Duty of your agent. Agents have what’s known as a “fiduciary” responsibility to their clients. A fiduciary duty is a pledge to serve in another person’s or entity’s best interests. A fiduciary duty is a combination of a duty of loyalty and a duty of care. They are legally obligated to put their clients’ best interests first.
A Realtor Know What they do
A realtor knows what to look for. They will be on the lookout for issues that may not come to your mind, such as furnace problems, leaks, roofing issues, and mold and bug infestations of the property.
They also have great negotiating skills. Realtors are experienced and trained to negotiate well. They know what normally works and what does not. Keep in mind that your realtor serves you a fiduciary duty. It is their job to obtain the greatest price for your home or to make sure you receive the best deal on the property you wanted to purchase. You might not be good in negotiation if you don’t happen to be an attorney, mediator, union representative, or ehem, a real estate agent.
A Realtor also provides data on a neighborhood’s demographics, crime rates, schools, and other vital elements that have been thoroughly researched, current, and credible. That’s a lot of research to complete on your own, especially if you have no idea where to begin.
Someone who practices their trade on a daily basis has invested in the correct tools, has proper licensing, and has improved their knowledge and competence over a length of time. They also bring a valuable network of inspectors, appraisers, escrow agents, and loan brokers to guarantee a smooth transaction. They know how to work with them in your best interests, such as getting the best appraisal, assuring the inspector is thorough and fair, ensuring escrow doesn’t go short, and ensuring the lender is giving you good terms and is ready to close when you are. Because that is what they do every day.
Convinced now of hiring a realtor? Then, it’s time now to start our work. Let’s talk.
