A good real estate agent is someone who is experienced in their field of work, professional in their conduct, and someone who can lend you an ear in order to understand your needs and requirements as a buyer or seller. They should be ethical and knowledgeable, possessing the know-how of the ever-changing real estate market.
THE IMPORTANCE OF A REAL ESTATE AGENT
With a heap of information readily available online, investors and sellers often feel like they don’t need the representation of a Real Estate Agent. They wonder if they could purchase or sell a property online or through advertising and marketing channels. This, however, may not always prove to be the right decision. Let’s find out why!
Listed below, are a few reasons why you, as an investor or a seller, should consider hiring a good Real Estate Agent:
A knowledgeable and experienced real estate agent will save you from the trouble of keeping up with the in-depth marker trends and swiftly guides you through the process of buying or selling by putting his vast market knowledge and years of commendable experience and performance to work.
> Serious Transactions:
Real estate agents respect and value their time, and your time. They take the spans off the list of property showing and visits. In case of a new property purchase, a trained agent will keep the builder’s agents at a distance from you, while also negotiating offers and coordinating your price requirements. In case you’re a seller, the agent will filter out any unwanted phone calls and connect you only to the serious buyers.
> Neighborhood Research and Negotiations:
A good agent knows how to run a research operation to get their hands on all the necessary neighborhood information. They give the buyer additional information on the neighborhood data, including the nearby schools, crime rates, distance to the closest market, hospital, chemist and other utility stores so the buyer can make an informed decision about the property.
> Market conditions:
An efficient agent will make sure to research the market conditions that are important for buying or selling property. The agent will conduct full-fledged research on the average sale prices of similar properties in the surrounding areas and the total number of days a particular property has been on the market for. These market conditions play a very important role in the ultimate buying and selling decision.
Skilled agents are trained to present their client’s offer in the best possible way, while keeping the essential case information confidential. This is done to safe guard the negotiation process.
> Handling paperwork:
Purchase agreement papers run in hundreds, and one mistake or omission can cause the client to land up in court or pay insane amounts of money to have the error rectified. Thus, it is imperative you select a responsible agent who is dedicated enough to have the paperwork handled and reviewed with utmost care.
> Assistance after closing:
After working with my co-agents at Gupta & Sen, I have realized that, not only should an agent be dedicated to the client while guiding them through the closing, but be at their assistance even after the closing. Sometimes, even if a transaction that has been closed without complications, problems can arise due to a mix-up of paperwork or invoices. In such a case, a responsible agent will come to the rescue, and sort out any any confusion or misunderstanding.
> A boon to real estate:
The right agent is a ticket to financial freedom. They guide you through the process of buying/selling and also, minimize your losses by keeping you from investing in the wrong property, this saving you time, energy, and most importantly, added stress.
Last month, one of our newest clients at Gupta & Sen shared with us the upsetting story of how they suffered major losses on a property last year, simply because they decided to turn agent instead of hiring one, in the hopes of saving on the commission costs. As a result, a slight issue in paperwork was overlooked since he had his hands full with other responsibilities an agent should have handled. I’m sharing this story with you in the hopes that you learn from someone else’s mistakes instead of going down the same path, yourself.
Investors often believe they can save a few extra lakhs on commission if they double up as Real Estate Agents. Truth be told, for every step an investor takes towards becoming their own real estate agent, they take ten steps away from the investment business, perhaps missing out on the investment of a lifetime.
Undoubtedly, being an agent is fun and rewarding. But, you’re bound to drop the ball somewhere, if you decide to be an investor and an agent at the same time.
Given below, is a diagram depicting the importance of a responsible real estate agent.
From my experience, I can tell you that a Real estate agent can make or break a deal. While there may be three categories of agents – the good, the bad, and the in-between, choosing to go with a good agent is the best and safest bet. Needless to say, it is imperative you do your research before hiring someone to handle important business. Ask around before making the final decision, as this will stay with you for the rest of your life.