Why You Need a Real Estate Agent When Buying or Selling a Home
In a real estate transaction, there are always two sides - the buyer and the seller. How you deal with your agent will depend on which side you're on.
According to NAR, no less than 8 out of 10 real estate transactions take place through the assistance of a real estate agent or broker. And there's a pretty good reason for such statistic; real estate professionals are very familiar with the process of home buying and selling.
They have a lot of experience when it comes to marketing a home and successfully negotiating a purchase. More importantly, it's their full-time job, enabling you to live your life as they handle all of the meticulous details. Read more about real estate at https://en.wikipedia.org/wiki/Real_estate.
Below are the benefits of working with a real estate professional when buying a home:
> Getting a clearer understanding of the home financing process
One of the most important benefits of working with a real estate professional is getting a better understanding of how much you can afford for a new home purchase. On top of recommending reputable lenders, real estate agents are also great sources of insights into neighborhood-particular information.
Your real estate agent may provide helpful information on HOA obligations for a certain building or development, and can save you a lot of complications regarding fees or special assessments. If this is the first time you're purchasing a home, Temecula realtor can be indispensable because they can help you understand all the additional costs of owning a home, like insurance and taxes.
> Getting the newest property listings, as well as comparisons and benchmarks
There are so many of resources to search for homes for sale, but the latest and most reliable data will always come from the MLS or the broker directly. While you can always educate yourself about the market online, your temecula realtors will provide updates on property statuses. They can provide important information such as how long a property has stayed on the market, insights from earlier inspections, etc.
Below are the benefits of working with a real estate professional when selling a home:
> Get marketing knowledge from a seller's point of view
The agent will submit a comparative market analysis report on which a strong estimate of the home's value will be be used for pricing, depending on comparable sales within the area, and the conditions of the property and the market.
Competent agents will also provide essential exposure of the property to woo potential buyers. Only agents and brokers who are licensed can put your listing in the local Multiple Listing Service (MLS), which will be linked to other agents and online portals. In general, your representative will help you manage the convoluted selling process. They will make sure that all buyers you are working with have been pre-screened and found capable of completing the transaction trouble-free.
The agent will coordinate with the buyer to negotiate the final price, along with adjustments that may be requested as per inspection results (with your final approval, of course). Finally, they will also take charge of earnest money deposits from buyers and ready certain documentation, such as purchase contracts.