Thursday, November 8, 2012

Don't Underestimate the Value of a Realtor

When it comes to buying and selling a home, people often consider forgoing the use of a realtor in an effort to save money. Do not underestimate the value of realtors when it comes to buying or selling a home. A good realtor is an insurance policy that you will make the best decisions financially, legally, and professionally throughout your real estate transaction.

A Good Realtor is an Insurance Policy

While you may feel like you can just do it all yourself - and maybe you can - chances are you will eventually throw up your hands and start calling local real estate agents. This is because from the legal realm to the myriad of hidden costs and/or unexpected situations that arise, a good realtor has the experience and wisdom to help you make the best decisions regarding your transaction. Here are some examples.
  1. Legalities. Real estate law is not simple and straight forward. Not only that, it also changes. If you aren't thoroughly educated regarding real estate laws in your state, or you aren't an expert at reading "legalese" it's not going to take you very long to realize the documents you need to understand and execute are beyond the abilities of the average adult professional. Plus, should you make any mistakes along the way, you can either be liable in court later on (if you are the seller) or you can be severely taken advantage of if you are the buyer. A real estate agent will be able to navigate potentially choppy waters, and s/he will be on the line if things go awry.
  2. Neighborhood Knowledge. If you've been living in an area for a while, you may know the ins and outs of every neighborhood. Otherwise, an experienced realtor will be able to steer you in the right direction. You may have found the house of your dreams only to learn, thanks to your realtor, that there is a fire station one block away that has noisy engines coming and going at all hours. Or that the neighbor to your left is notorious for having late night parties and get-togethers. This kind of knowledge is crucial when you are making the important decision to buy a home.
  3. Hidden Costs. Buying a home is more than just qualifying for a loan that matches the purchase price. There are closing costs, taxes, and insurance fees. There may be things that come up during the inspection which require repair work or remodeling to bring the house up to code. These costs add up quickly. Without a realtor on your side, you may be left paying thousands of dollars more than if your trusty realtor negotiates with the buyer/seller's agent to get the best possible deal.
If you are in the market to buy or sell a home, do yourself a favor and find the best realtor in your area. Not only will know  your real estate transaction will move as smoothly as possible, you will also be doing your part to keep our economy moving forward.

1 comment:

  1. This article is right on the money, most buyers only know enough to get them into trouble. A local real estate agent is needed to protect their interest.