Many people think that hiring a real estate agent is redundant with so much information available online. Of course, buyers today have access to tons of information on the web, but it cannot replace the skills and experience of a real estate agent.
You cannot expect to match the training, the knowledge and the experience of a realtor by just gleaning material from different websites. Here are 7 reasons why you need a realtor when buying a home.
- In-depth Knowledge of the Real Estate Market
You may have a liking for a city or neighborhood. You can also gather more information about the area from realty websites on the internet. However, only a real estate agent understands the ins and outs of living in a locality. Only he has the inside knowledge about a failed project or the ease of living in a neighborhood. The local realtor also knows about price ranges of properties in different areas. Therefore, he can suggest you the right location and property depending upon your budget and requirements.
- Knowledge of the Profession
There is so much of paperwork and legal formalities in a real estate transaction that it can be overwhelming for you as a common buyer. However, it is just another day in the office for a realtor who knows how to wriggle out of a tight situation and who to contact in case of a problem. His qualification and training are meant to help and guide clients and to make buying hassle-free for them.
- Saves your Money and Time
Most people think they will be asked to pay commission for the services of the agent. The fact is that his fee is paid by the seller out of the proceeds of the sale. Your agent actually saves money for you by negotiating with the seller’s agent. He is also the professional who can show you properties that match your requirements perfectly. This way he can save your precious time that you may waste by seeing various options that do not serve your purpose.
- Why not Buy Directly from a Developer?
Many individuals think they can bypass a realtor by dealing directly with the developer of a project. You will most probably miss out on many alluring investment options as the developer will only show you properties that he is directly involved with. In fact, you could miss out on 80% of investment options if you choose to deal directly with a developer. But when you hire the services of a realtor, you will be shown properties belonging to different developers. This is because a real estate agency usually has tie-ups with many developers. Would you like to save some money this way or choose to work with a realtor who can find a perfectly matching property for your requirements?
- Paperwork & Formalities
When you are buying an investment property, the last thing you want is to make a mistake in fulfilling legal formalities. A real estate agent knows about the paperwork and legal formalities and makes sure that every single document is filed up. He also goes through the agreement before asking you to sign on it. He safeguards your interests which is very important when you are investing so much of your hard-earned money.
- Power of a Professional Network
One of the most valuable assets of an agent is his professional network. Real estate agents network with developers and other investors, they often book in advance the best unit before the official launch and hence offer their clients premium units such as the ones with the best view.
- Hiring a Real Estate Agent is Free
Although the agent is entitled to a certain percentage of commission in a real estate deal, it will be the developer who will be paying to the real estate agent. For a buyer, the property price will stay the same. It simply means that you’re not getting charged for the real estate agent services.