The Importance of Real Estate Agents15 September , 2017 1012
Buyer’s remorse is the sense of regret faced after making a purchase, a feeling that most of us have experienced at least once in our lifetime.
Unfortunately, buyer’s remorse is more likely to occur after an expensive or extravagant purchase, such as a car or house. This buyer’s remorse will often manifest itself as feelings that we could have gotten a better deal somewhere else, or that we simply did not get value for money. Imagine paying a large sum of money to purchase or rent a property and then later realizing how substandard the property is! Alternatively, you may realize that you could have gotten a better rental or sales price for the same property, or even have gotten a better property in a better neighbourhood.
You cannot afford to have these feelings in real estate, and herein lies the importance of real estate agents.
- A Wide Portfolio
Some people think that driving through neighbourhoods looking for sale or rent signs or browsing properties online is an easy way to find the right property. However, unlike us, real estate agents are in the business of selling and renting properties full time. This means that they will likely know of properties that you may not see in your individual search. On a daily basis, they liaise with other agents to have access to as many listings as possible. Furthermore, real estate agents may be able to provide insight into a property or neighbourhood that you may not be able to get on your own. Real estate agents therefore give you more options to choose from by collaborating with others to offer you the best property possible.
- Better Relationship with Landlords
Real estate agents interact with landlords on a daily basis. This leads to a relationship built on confidence and trust over time. Landlords and property owners are therefore more comfortable negotiating with real estate agents and will often take price advice from them. If you want the best price for a property, it is best to let a real estate agent do the talking for you.
- Handling Legal Aspects of Renting and Sales
Even if you found a property on your own that you were 100% satisfied with, things can get complicated when it is time to actually buy or rent the property. Real estate agents handle tenancy agreements and conditions tied to purchase agreements on a daily basis, hence they are in a position to advise on the conditions to include in an agreement. Because of their experience, they can also help shield you from legal liabilities. An agent will therefore save you time and protect you from unforeseen legal wrangles.
- Landlord Accountability
It is often the case that certain features of a property must be adjusted to meet a tenant’s needs before the property can be rented. There may even be faults with the property that the landlord may be unaware of. This is where your real estate agent again becomes extremely useful.
Real estate agents interact with the landlord to prepare the property and ensure that everything is in order before you move in. Through thorough inspection, agents can detect any faults and bring these to the attention of both landlords and potential tenants. This ensures that there are no unpleasant surprises after a tenant has moved in, and that anything that requires work can be fixed before the handover. Tenants can relax with the knowledge that their real estate agent will hold the landlord accountable for any promised repair works. Agents have their brand reputation to protect, so customers can be assured that that all properties are rented or sold in prime condition.
- Connecting Sellers to Buyers
Thus far we have spoken about the importance of real estate agents from the perspective of a potential tenant. But what about for a potential landlord? Real estate agents are just as useful for those seeking to rent or sell a property as for a potential tenant or buyer.
As an individual property owner seeking to rent or sell, you are likely not able to focus on this as a full-time job. You probably cannot be there 24/7 responding to enquiries and taking potential clients to view your property, and people will not stick around waiting on you to attend to them at your convenience. They will move to the next available seller.
Agents on the other hand are in the business full time, and can therefore handle real time enquiries, take renters or buyers to view the property, and assist them with any additional information they may require. Furthermore, you can rest assured that your real estate agent will show your property in the best light possible, highlighting its positive features and making it appealing to potential buyers or tenants.
Agents also receive countless enquiries for properties each day, while as an individual seller you may only receive a fraction of this. Your real estate agent will ensure that your property is visible to a much wider audience, therefore increasing your chances of getting your property rented or sold at the right price.
Buying, selling, and renting properties are a lot more complicated and time consuming than we often realize. People sometimes try to get out of using a real estate agent in these processes because they want to avoid having to pay commission. However, it is usually the case that we lose more than we save in commission in terms of time, convenience, and even money when we try to do everything on our own. Agents can be as important in our real estate transactions as lawyers are in court.
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