The process of buying or selling a home can be overwhelming to any homeowner. Whether you’re buying your first home or upgrading from your starter home, making sure you work closely with an experienced real estate agent to represent your wants and needs and ease the stress of the process.
Keep in mind, there are two sides to any real estate transaction: the Buyer and the Seller. Depending on which category you fall in, your relationship with your agent is going to differ. Most likely, you might be selling and buying a home at the same time, which makes things a little more complicated. Provided by Homebuilder.com, the following guide will help you understand the benefits of having an agent as a Buyer or Seller.
Benefits to the Buyer
One of the most valuable benefits of working with an agent is their guidance in understanding home financing and pinpointing how much you can afford. The right real estate agent is a remarkable resource to suggest a trusted lender.
With their knowledge of the area and neighborhood, an agent should be able to inform you HOA obligations for a specific community, amenities, school districts and more. For first-time homebuyers, agents can be invaluable in helping you understand all of the added costs of owning a home, such as taxes, insurance, and maintenance.
Even with the countless sites you can use to search for a listing, an agent is going to know the most up-to-date property listings and provide you with the most reliable information. Your real estate will have updated to-the-minute notifications on the status of properties as well.
A Buyer’s agent will be knowledgeable on the home’s history- how long it has been on the market, how many times it has been listed, how it compares to neighboring properties, and inspection history.
Benefits to Sellers
A skilled agent will provide comparative market analysis that will estimate the home’s value for resale. They will help you calculate pricing based on comparable sales in the area, condition of the property, and state of the market.
An agent should be able to provide quality, extensive exposure to prospective Buyers. Only licensed agents and brokers can add your listing to the local Multiple Listing Service (MLS), which is a must-have. In today’s market, agents can get creative when advertising a listing through multiple online listing sites, such as HAR or Trulia, brochures, and 3D Tour Technology.
Ultimately, your agent will help guide you through the complex selling process. They will ensure that any Buyers you are working with are pre-screened and pre-qualified to follow through with the buying transaction. They will also handle prices negotiations with Buyers to, as well as any adjustments that are requested based on inspection results.