Monday, August 3, 2009

The Importance Of A Real Estate Agent!

Photo by RoseBushDesigns on Flickr

It's important to be an educated consumer and do your own research when buying or selling a home, but it's also very important to hire a professional, such as real estate agent if you want to maximize the potential of getting the best deal possible. Below are a few reasons as to why a real estate agent is valuable for facilitating a real estate transaction.

  • Comparative Market Analysis (CMA) – an estimate of the home’s value compared with others. This differs from an appraisal. The CMA is based on current market trends and recent sales in a given area and is the basis for the agent’s recommended list price.
  • Marketing expertise- marketing the real property to prospective buyers. One of the most important aspects of selling any home is market knowledge. Agents also have exclusive access to two resources that are often critical to selling a home: other agents and the Multiple Listing Service (MLS). This database is accessible only to registered real estate agents. This is where an agent will find current properties and market information as well as an archive or all past sales.
  • Facilitating a Purchase – guiding a buyer through the process. They can help you determine your buying power.
  • Facilitating a Sale – guiding a seller through the selling process. They can help close the sale of your home. They can help you objectively evaluate every buyer’s proposal without compromising your marketing position.
  • ObjectivityWhen selling, a Real Estate Agent can provide an unemotional view of the home and what needs to be added or subtracted to make it more appealing to buyers. They provide due diligence during the evaluation of the property. They can assist you in the selection process by providing objective information about each property. The agent is also a source of information about the home itself: how long it’s been on the market, the neighborhood and school system, the home’s best features and so on.
  • Advertising the property – Advertising is often the biggest outside expense in listing a property. Just keep in mind that the advertising, open houses, etc are included in your agent’s commission whereas you would need to pay for these yourself in a FSBO situation.
  • Single point of Contact – Being available to answer any questions about the property and to schedule showing appointments
  • Prescreened Buyers – Ensuring that they are financially qualified to buy the property.
  • Drafting skills - real estate agents help draft contracts and should know the information that must be included in the documents.
  • Negotiating – The seller’s agent acts as a fiduciary for the seller. A Real Estate Agent can provide advice to both buyers and sellers about whether to accept or modify an offer or counter-offer.
  • Financial Guidance – They can help you in understanding different financing options and in identifying qualified lenders. They can also guide you through the closing process and make sure everything flows together smoothly. They can recommend lenders and work with lenders on your behalf to pre-qualify you for a loan.
+ Real Estate Taxi

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CoachingByPeter September 21, 2009 at 9:04 PM  

Proficiency in using internet is a great advantage in hunting valuable properties but then when it comes to getting down the details, consultation with a skilled agent is needed. An agent must know the latest trends in the market and must be knowledgeable of the current economic indicators.

Laguna Beach Realtors October 22, 2009 at 5:58 AM  

Now that's an informative post and how well it underscores the value of realtors in the real estate.