The Pros And Cons Of Using A Real Estate Agent
When you are buying or selling a home, you will in all likelihood consider using a real estate agent. The pros and cons of using a real estate agent need to be weighed up before you decide whether to appoint an agent, and considered when choosing the agent. Usually, when considering all the aspects involved in buying or selling a property on your own, employing the services of a real estate agent begins to sound better by the minute.
Benefits
1. A real estate agent is likely to be far better at his job than you are. Real estate is what they do for a living. Unlike you, agents have the time to concentrate on looking after your interests whether you’re buying or selling.
2. A real estate agent has the tools and knowledge to establish what price to sell your home at, or what price to offer when you buy. Agents familiarized with the local property market will easily recognize all the positive aspects of a house, as well as the negative ones.
3. If you appoint a Realtor, they will have access to the Multiple Listing Service, which gives them access to a wider variety of listings and buyers. Being members of the National Association of Realtors, they abide by a Code of Ethics, which quite often has proved to be more strict than common law.
4. The agent bears the cost of marketing your home, which can add up quite quickly. They also have an existing network of possible buyers and sellers that they can contact quickly and easily. They shouldn’t lack experience in online listings.
5. Also, real estate agents will relieve you of the tiresome task of dealing with legal and financial forms and procedures, and they will take care of any contract details. They are linked to banks and mortgage companies, as well as attorneys specialized in real estate. So you don’t have to waste time or effort looking for them.
Disadvantages
1. Regardless of whether you are buying or selling, hiring a real estate agent means money out of your pocket going straight into theirs. When considering the agent’s commission you should also keep in mind all the time and money you would have to invest in advertising your own home, or in looking for a new one.
2. In some cases, agents and clients can’t really seem to see eye to eye and the property transaction turns into a traumatic experience for all involved. A constant battle of wills as well as a different agenda can result in a trying and counterproductive relationship between agent and client.
3. You are at the mercy of the agent, and often tied into a long-term contract of exclusivity. Generally, such contracts are made for a period of 6 months, and sometimes you may have the feeling that nothing is being done.
4. If you don’t want a disagreeable property transaction, you should be most careful when selecting the agent who will represent you.
Stories abound of unscrupulous, unethical agents who are out to make a quick sale with little regard for their client’s well-being and satisfaction. As with most things in life, we tend to hear more about the bad experiences than the good ones, and good real estate agents certainly do exist. Your choice of real estate agent will affect your experience with them, but in general their knowledge of the market, the process of selling or buying a house and their sales skills are difficult to match.
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Tags: Agent, real estate, realtor, selling
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