A Real Estate Agent Can You Give you a Great Deal
Good deals. As a real estate investor or as someone planning to stay in a property that you are buying, a real estate agent is the only person who can bring you a good deal. Because without a deal you have nada, zilch. You cannot make a profit as a real estate investor without first finding a good deal. You can compare this process to that of an actor and his / her casting agent. An actor first needs to be cast with a role in a movie or TV show before he / she can become famous.
In real estate, a lot of activities happen before the contract is signed, but signing is the key to getting paid. Just like a casting agent brings an actor a good role, similarly a real estate agent finds an investor a good deal. The key word here is ‘deal’ and not ‘property’. You could end up having the best property in Mumbai but it could still be the wrong deal. The deal only become ‘the deal’ when the property sells and you end up earning the profit that you have envisioned. That is essentially the whole business of real estate in a nutshell. A real estate agent who finds you the right deal is worth his / her weight in Gold and you will soon be seen as the Investor with the Midas Touch!
A real estate agent has access to all the legal contracts pertaining to buying and selling of properties in India. These contracts would be written and rewritten for the best possible legal protection of all concerned parties. The contracts in the possession of every real estate agent includes forms on every possible situation. Some of these forms include:
- Buyer’s Contracts
- Purchase contract and receipt for deposit and counteroffers
- Agreements if you take or give possession early
- Disclosures to disclose condition of properties
- Many others.
These contracts will only be available to you through a real estate agent. This is a hugely valuable service that a real estate agent provides and there is really no way to actually estimate how important this one service itself is to someone who is thinking of buying or selling property.
As a real estate buyer or investor you will be spending an inordinately large amount of time running around if you try to do everything on your own. You will need to visit the site and you will also have to have long meetings with all the different players in a deal. Your real estate agent can help you with all these tasks and you can rest assured that your agent only has your best interests at heart because they only get paid on closing a sale. A Real estate agent can help you with:
2. Pest Control inspectors
3. Other Realtors
4. The buyer
5. Property inspectors
7. Municipal planners, inspectors, civil engineers and other civic authorities
8. Contractors, painters, carpet and floor installers, landscapers etc.
Running around to meet everyone can take up half your day. When your real estate agent steps in to take some of the burden off your shoulders even for once a week, you are effectively saving 26 days in a year! And if you are a really busy person, then a good real estate agent can save you even more time – often as much as 70 – 80 days in a year. If you are a smart person who equates your time with money then you will not think twice before enlisting the service of a real estate agent to partner you in your real estate investment portfolio.
Learn from Others’ Mistakes
You can always learn from the mistakes made by others and save on making your own mistakes. I am not referring to the mistakes made on your own transactions. I’m talking about the mistakes made and learnt by your agent. No one is born a master of a trade, a skill or a profession. Every professional needs theoretical as well as on-the-field practical knowledge. An experienced real estate agent dealing with the type of property and investment that you are working on can help you save time and make informed decisions that are accurate in analysis and market trends. If you are just starting out as a real estate investor, you do not have to make your own mistakes in order to learn. Have an agent make the mistakes with someone else prior to the agent working with you!
Let the Agent Negotiate for You
Many a times, Real Estate can seem like a battleground than art. When big money and ego is involved, sparks are going to fly. Unless you enjoy a good fight, you might wanna let your agent do that bit for you! A real estate agent can be the mediator and go to war for you. He or she can play the role of the bad cop by using your instructions and fighting for your own best interests. This can be advantageous for you because they can do the dirty work while you do best and what you are more productive at. Also remember that it is always easier for someone to speak for someone else’s best interests rather than their own.
You can call a real estate agent a shrink, a trusted pal or your agent. But when you deal with a real estate agent, he or she can over time become a close friend and ally. There are many aspects of a sale that can go off track. Questions may arise such as: Did I purchase the right property? Did I use the right Lender? Did I get the lowest interest rate and the most attractive loan available? Did I use the best qualified contractor? Are we using the right materials at a fair price? Why did he or she say or do that?
You can bounce off your concerns with your real estate agent and have him / her counsel you for free! Because at the end of the day your agent is the one who is familiar with all the details of your loan, property, costs, time considerations, people involved etc. Since your estate agent has experience, expertise and knowledge, it is but natural for you to speak to them. Below are some of the clearly tangible benefits of talking openly to your agent:
- He / she can find a solution to a problem.
- Your agent will help you to see the big picture.
- You can know the agent’s experience about what works right and what can go wrong.
- Your real estate agent can effectively show your your different choices.
- Talking is hugely therapeutic. It helps to get a load off your mind and chest and ultimately help you in making right decisions.
Still thinking about doing it all on your own?!! Good luck!
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