Do You Need A Real Estate Agent?

The purchase or sale of a home will probably be the largest transaction most people will make and usually it can involve over $100,000 for the transaction. There are some factors that should be considered on whether or not to use a real estate agent.

 
For the Seller
The real estate agent will have the most current sales information on properties in your area. That would include current listing prices, the physical condition of other properties, financing terms available, and other pertinent statistics on the market.

The agent will also make recommendations on specific upgrades to make the home more attractive to potential buyers. Many real estate markets have far more homes available than buyers, so it is imperative for the seller to have their property in top shape.

 
The real estate agent will handle all the marketing on the property by running advertisements in newspapers and online, handling all open houses so prospects can view the property and insuring the property gets listed in the multiple listing service. The agent is also responsible for notifying other agents about the property. In many markets, about one-half of the sales are cooperative which means another agent has the buyer for your property.

 
The agent can review all purchase proposals so that if they are outside the boundaries of the listed price, you will know what options are available in responding to these offers. The agent will coordinate the processes of inspection, appraisals and financing so that the closing will occur quickly and without any unexpected delays.

 
For the Buyer
Today’s real estate agent is knowledgeable in determining what is within your budget by reviewing income, savings and expenses that you currently have. Since most people do not pay cash for their home, it is important that all financing options are considered. The real estate agent will have a good background for providing the best lenders for the prospective buyer.

 
The real estate agent can develop a list of homes in your area of interest so that you can initially tour them online prior to an in person tour. Information will include aspects on the community, schools, shopping, property taxes, as well as the general condition of the property. A review of the inspection and appraisal information is also helpful.

 
The agent will also prepare a title search that will insure the property is clearly owned by the seller.
All of this previous work by a good agent will enable the closing to be completed with no unexpected problems.