There are many benefits to using a realtor. From getting the best deal, to staying on the right side of the law. It is stressful to buy and sell a house. Showings. Listings. Open houses. Taxes. Closing costs. Paperwork or paperwork. And that’s just to name a few.
It’s tempting to believe that you can do it all on your own, especially with the wealth of information available online (and through Property Brothers!) Real estate transactions are time-consuming, complicated and can cost you money if they are not handled correctly.
It’s not in your interest to represent yourself if you are buying or selling a house. A Realtor is the best person to help you with your real estate needs.
Here are a few compelling reasons (and ones that will save your sanity) to hire a Realtor.
1. Realtors adhere to a code of conduct
Although we think most real estate agents are honest, members of the National Association of Realtors have agreed to follow the Realtor Code of Ethics. This code contains 17 rules to ensure that standards of conduct to promote fairness and honesty are met.
This means that your Realtor will only be looking for you. It’s that simple.
2. Insiders have access to information
Every industry has its own language, vast network system and trade secrets. Real estate is no exception. When an agent gets a real estate license, they get all that information.
Realtors are constantly in touch with other professionals and gain exclusive market data from the National Realtors Association. This helps them stay on top of what’s going on in the housing industry. Realtors know about the hottest subdivisions, the newest blocks and how to get the best deals for their clients.
Real estate agents are familiar with CMAs, EIKs, and FSBOs. Amortizations, appraisals, and assessments. Cash reserves, collateral and co-mingling. Consider getting an agent to translate if you do not understand the lingo.
The majority of homes are sold through networking, not advertising.
You can access the extensive list of contacts that a realtor has, including friends, family members and past clients. Your Realtor may know another Realtor that knows a family who is looking for what you are selling or selling what you want.
These relationships can help you to get the most accurate representation of the property and the best price for the sale, whether you are buying or selling.
3. They are marketing experts…
Realtors are experts at staging homes for showings, planning the perfect open houses and photographing properties in the best light possible for listings.
We know that you have good taste, and that HGTV taught you a few things about selling a house. We know that you are busy with a job, family and other responsibilities. You can let an expert handle your real-estate venture.
According to a survey conducted by the National Association of Realtors in 2017, 30 percent of home buyers found their homes with the assistance of an agent, and 51 percent did so on the Internet.
The NAR gives Realtors the most up-to-date marketing strategies. The Realtors network via Facebook groups, NextDoor, and LinkedIn in order to reach more buyers and sellers.
As a homeowner you can only share a listing with your friends on Facebook so many times before they ignore it for 30 days.
4. Negotiators who are tough
The final price is what matters, and the idea that an agent will get a portion of it can be unsettling for some sellers.
According to NAR statistics from 2016, the average price of a home sold by an owner was $208,700, compared to $235,000 in a sale with an agent. This shows that you are more likely than not to get the price you desire (and perhaps even more) when you work with a professional.
A bigger profit will still allow you to walk away with all the money you wanted.
Plus, realtors don’t have an emotional attachment to your home. It’s good that you are emotionally invested in your home, as most likely, it is. It’s hard to let go of the memories that are ingrained in your home, both good and bad.
People simply do not make the best choices when they are emotional. A Realtor is a constant with common sense who uses his head to negotiate instead of his emotions.
5. Realtors help you stay on the right side of the law
Do you need to inform a prospective seller of that water leak which you never repaired? You should test the paint of your older house for lead before you put it on sale. Do you have any restrictions in the deeds of the property that you are hoping to purchase? What is Dodd Frank?
You will have dozens of questions when buying or selling a house that you won’t be able to answer quickly with an internet search. Finding a Realtor can be of great help in this situation.
Realtors are always up to date with ever-changing laws and regulations that govern property sales, and you don’t need to be. This is thanks to the National Association of Realtors, and state Realtors associations.