If you're considering selling your home or house hunting to buy, you might be wondering why you should use a real estate professional and how much benefit they might provide. Why not list your home for sale on your own or just call the agent on the sign or from the online listing when you see a house you might like? Here are five reasons why you need a real estate agent.
1. Industry Knowledge
Real estate professionals require extensive training before obtaining their real estate license and using the REALTOR® trademark. Agents must have knowledge about developments in real estate as well as actively updating their education. They have access to valuable market data that the general public can't access on their own including the ability to produce a Comparative Market Analysis and other reports that will help to develop a pricing and marketing strategy for the sale of a home or in determining a fair market value when buying. As well, they have real estate industry materials, experience, a network of colleagues and allied resources to further increase their knowledge and value.
2. Negotiation Skills
Having an experienced real estate agent with an arsenal of negotiating tactics and strategies at their disposal is the best way to maximize your results in a deal. A skilled negotiator will help to avoid blunders that could affect your negotiating position which could result in money left on the table. Terms and conditions are as important as the purchase price and having the ability to negotiate the entire agreement with the other party is essential.
3. Working for You
In an agent/client relationship, the salesperson and his/her real estate firm is required to protect and promote your best interests in the transaction as they would their own. The following outlines some of their duties arising out of an agent/client relationship in a typical real estate transaction:
- Loyalty to serve your best interests ahead of anyone else's, including their own, and at all times to exercise good faith and to disclose all known facts and information which may influence your decision.
- Obedience to follow all of your lawful instructions.
- Discretion to keep confidential your private circumstances, motivations, and confidences which you shared with the salesperson or which the salesperson or the real estate firm has learned.
- Competence to exercise reasonable care and skill in performing all assigned duties.
- Accounting of all money, deposits, or other property entrusted to them.
On top of these requirements, an agent helps to leverage your time and does a lot of the work for you. Successfully selling a house with the best outcome requires an effective marketing strategy that can involve promotional materials delivered to the surrounding neighbourhoods, social media posts and other online listing platforms, many phone calls, an attractive and visible yard sign, scheduling and doing showings, open houses, and so on. When buying a house, your agent will get to know your needs and wants and then provide you access to all the available homes that meet your criteria and stay on top of the market and new listings to be sure you see everything that might be a match for you. When buying or selling, an agent will be there to give advise, share market data, provide access to their resources, help you to easily handle all the paperwork, and most importantly, they will negotiate on your behalf.
4. Guidance and Support
Purchasing or selling a home is exciting, but it can also be emotional and even overwhelming. It's one of the largest financial commitments for most people and the place where you'll be making new memories with friends and family if you buy it and where those memories might make it difficult to move on when you sell. A real estate agent can provide guidance and support through each step and will be at your side for every home viewing, helping you to find the right house for you and your family, or working hard to sell your home with experience, advice, and being attentive to what's important for you.
5. Avoid Closing Issues
Everyone wants to avoid obstacles and problems when it comes to their purchase or sale of a home. An experienced agent can foresee any issues and help you to avoid, overcome, and resolve them before it's too late. Closing issues can include:
- Condition deadlines being missed
- Document errors
- Legal risks
- Last-minute requests
- Issues at possession
Avoid these frustrations and other issues by using an experienced real estate professional!
The Bottom Line
It's a lot to learn how to sell your house on your own or to buy a house with no one there working with you, especially for one of the biggest transactions of your life. Agents have access, experience, and knowledge that are incredibly beneficial to their clients. For more information on buying or selling a home with a qualified agent, contact Andrew St. Hilaire Winnipeg REALTOR®.
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