7 Benefits of Using an Experienced Real Estate Agent

When buying a new home, it is recommended to reach out to a real estate agent to help facilitate the buying process. For home buyers, it is normal to not feel at total ease with entrusting some of the responsibilities to an agent, especially when you consider how big of a financial investment it is to purchase a home. That said, there are many benefits to using an experienced real estate agent and in the following infographic, you can learn about seven benefits of hiring one.

Benefits of Real Estate Agent Infographic

#1 Latest Market Conditions

The condition of the real estate market can be swayed by many different variables. Factors such as the average per square foot cost of similar-sized homes, average days on market, median sold price, no. of active real estate listings, among other criteria, will have an influence on the outcome of the real estate investment. Rather than researching all this information yourself, you can bring in an experienced real estate agent who will be able to disclose current market conditions and help piece the puzzle together.

#2 Negotiation Experience

Negotiation is an art and when you are part of one that involves the purchasing of real estate, things can get hairy very quickly. If you try to do it on your own, there is a strong likelihood that you would be negotiating with the seller’s agent, and not the seller. In that case, you are already in a disadvantageous position as you are dealing with an experienced professional who is better prepared to negotiate a price deemed suitable to the seller.

On the other hand, if you bring in a good real estate agent, there are several benefits that you acquire during the negotiation phase. First, you take the emotional aspect of the negotiation out of the equation. Considering the large amount of finance involved, it is easy to feel overwhelmed and stressed when you think things are not going your way. A real estate agent will help you deal with the negotiation in a more objective manner and will try and put your case in the best light possible.

Second, having a real estate agent will reduce the likelihood of the seller’s agent presenting a lowball offer. Knowing that he or she is dealing with another professional, the seller’s agent is more likely to save time and initiate the negotiations with a more reasonable offer.

#3 Connections to Trustworthy Partners

Real estate transactions involve more than just the buyer, seller, and their real estate agents. Other key stakeholders of a real estate transaction include: appraisers, home inspectors, home insurers, mortgage lenders and underwriters, moving companies, and real estate attorneys. A good real estate agent should be able to introduce you to their trusted partners. What role do these professionals serve in a real estate transaction?

Real Estate Appraiser
The role of the appraiser is to verify and validate the value of a property. After the appraiser performs a thorough assessment of the property, he or she should be able to provide a value that is impartial to both the seller and the buyer.

Home Inspector
The home inspector is another independent third party who performs a physical inspection of the property. The home inspector checks for major components and systems such as the interior water supply and distribution system. Hiring a home inspector will reduce the possibility of a buyer coming across any significant repairs that need to be addressed after the completion of a real estate transaction.

Real Estate attorneys
The role of the attorney is to help protect your legal rights and obligations after the closing of a transaction. Real estate lawyers will help you draft important legal documents, such as purchase contracts and financial agreements, assist with negotiations, and help examine county land records.

#4 Knowledge of the Community

If you are moving to a completely new location then it isn’t just the home that you should be worried about. You should also be researching about the neighborhood and the surrounding community. Local real estate agents will have intimate knowledge of the area and that can be pretty valuable, especially during the negotiation phase of the real estate transaction.

Real estate agents can provide you with neighborhood-specific insights such as the general aesthetics of the community, accessibility to goods and services, and access to other public amenities.

#5 Large Volume of Paperwork

Real estate transactions involve a lot of paperwork. Some of the more common documents include the closing form, purchase contracts, owner finance agreement, mortgage forms, and offer to purchase. Let a real estate agent simplify the process and handle most of the legal legwork for you.

#6 Post-Sale Support

Even the smoothest of real estate transactions could lead to a bit of complication. Good real estate agents should be willing to assist with any issues that may arise after the closing of a transaction. For example, tax-related issues can often get delayed for months. In some cases, you may receive a real estate assessment after the transaction closed. With the knowledge that they have already required in the transaction process, real estate agents should be able to clear up any confusions that comes with these potential post-sale issues.

#7 Save Time & Energy

Ultimately, one of the biggest benefits of hiring a real estate professional is saving time and energy. The internet has made it more than possible for home buyers to do most of the legwork themselves, but there really is no substitute for an experienced real estate professional. Most real estate agents would agree that an average real estate transaction could take anywhere between 30 to 50 days, although this can change based on many different variables. Without a real estate agent to support you through the process, you could be in for an emotionally-draining and time-consuming journey.

With all of this in mind, weigh up the pros and cons and carefully decide whether using a real estate agent is right for your situation. If you do decide to proceed with using a real estate agent, be sure to do your research as with any industry, there are good apples and bad apples.