The Role and Benefits of Using Real Estate Agents

For most people, purchasing a home is the largest investment they will make in their lifetime and it should be approached with forethought and planning. There are many ways to save on this purchase, but the services of a real estate agent probably aren’t the place to start.

A real estate agent could help you get the best property for your money and avoid many of the trappings that come with making this purchase. They are also familiar with the tax codes and the obligations you may have towards the government.

Saving time

It takes a lot of time to purchase a home. Those who have jobs, families, and other obligations to attend to usually won’t have the time to check out dozens of homes a week, and that’s what it takes to find the one you like. The paperwork needed to make a purchase (and probably take out a loan) is also rather time-consuming.

If you manage to relate to the agent what they should look for in the perfect home for you, they could take on the bulk of this work and leave you with the final decision.

Tips 

Real estate agents often know the area they work in and are privy to tips about properties coming to the market. That’s why it’s important to choose an agent based on location, since that is the key feature of a property when it’s being bought and sold. For instance, a real estate agent from Northern Beaches will know who is in a hurry to sell property there, and therefore, where you can get a good price.

When time is of the essence, these early tips could put you in a favorable position and separate you from those who are waiting for the real estate to be listed online.

Experience

The seller will prepare the home for viewing. There are countless tricks for how to do it, to emphasize the qualities of the home and hide its downsides and potentially costly repairs. For the most part, an average buyer won’t be able to spot these, but a real estate agent can.

Years of experience working in the field will teach the real estate agent which properties should be avoided and which can be repaired and the repair costs taken out of the initial price.

Negotiation

The biggest mistake you could make while buying a home is to simply agree on the first price offered by the seller. In most cases, there’s room to lower this price and the seller is just putting up the offer that’s a bit higher than that. This requires careful and sensitive negotiation and there are many buyers who aren’t up to this task.

Luckily, the real estate agent usually is, due to the previous experience mentioned before. It’s, therefore, best to instruct the agent about the price you want to get and the price you’re willing to pay and let them negotiate for you.

Taxation and other fees

There are other expenses when it comes to buying a home than just paying the price set by the seller. The most important of these is the tax, that’s formally paid by the person selling the home, but the arrangement is often made between the two parties, to handle it together. There are also taxes on the land on which the property is based and fees if there are repairs to be made. 

There’s also a lot of paperwork involved in handling these tasks. All of these would be made easier by hiring an agent that understands the tax code and the rules regarding it.

Conclusion

Many hesitate to hire a real estate agent when they are buying a home. It’s a mistake not to hire one due to the great benefits that they can provide you with. Even though buying a home is expensive and hiring professionals to help you is adding to that price in the long run, it can help you get a better deal.

Real estate agents have the experience and the inside knowledge to help you get a better offer, better deal and in the end, pay less than you otherwise would.