For many consumers, a home is one of the biggest purchases of their lives. When it comes time to start the home shopping and purchasing process, why wouldn’t you want an expert in your corner who does this every month?
Well, most homebuyers do. According to the National Association of Realtors, about 90% of homebuyers use a real estate agent. With an in-depth understanding of market trends and property values, real estate agents serve as advisors, negotiators and facilitators for homebuyers or home sellers looking to navigate the real estate market.
What does a real estate agent do?
A real estate agent is a licensed professional who helps buyers and sellers with real estate transactions. Their duties typically include understanding client needs, evaluating property values, marketing listings and guiding clients through property visits and negotiations.
You may hear “real estate agent” and “realtor” used interchangeably, but there is a difference between the two. A Realtor is a trademarked term that refers to a real estate agent who is an active member of the National Association of Realtors (NAR) and must adhere to its Code of Ethics. However, both are very helpful when navigating the homebuying or home selling process.
Benefits of Working With a Real Estate Agent
In today's complex real estate market, the decision to buy or sell a property can be overwhelming. While many take on this journey independently, the benefits of collaborating with an experienced real estate agent are numerous.
Top Reasons to Use a Real Estate Agent
| For Buying | For Selling |
|---|---|
| Find a home quicker | Broader exposure for listing |
| Your advocate when negotiating | Understands the market and can properly price homes |
| No out-of-pocket costs | Well-versed with process and paperwork |
| Can connect you to resources | Home usually sells for more money |
Let’s explore these reasons a little further in detail.
Why Use a Real Estate Agent When Buying
Using a real estate agent when buying a home can be helpful since they provide expertise and guidance throughout the process. Their professional experience ensures that buyers can navigate the intricacies of the real estate market with a knowledgeable ally by their side.
Find a Home Quicker
Modern technology certainly makes house hunting easier. But wading through online listings can be overwhelming, and online property listings aren’t always up-to-date.
Real estate agents have access to the Multiple Listing Service (MLS), which includes up-to-date property information that doesn’t reach the wider web. Your agent can inform you of new listings as soon as they are listed and also notify you about off-market opportunities.
Your Advocate When Negotiating
Just as you wouldn’t head into a courtroom without good legal representation, you don’t want to enter real estate negotiations without an experienced advocate. Real estate agents are expert negotiators who know the local market and how to stretch your dollar. Skilled agents can help advocate for your best interests and secure your property under the best possible terms.
No Out-of-Pocket Costs
Sellers often pay your real estate agent’s commission. That means buyers pay no additional cost out of pocket for an agent’s expertise and service. Agents can help you quickly locate potential properties and negotiate the terms of your purchase contract that could save you time and money.
Can Connect You to Resources
You’ll need to work with a lot of different people before closing day. A real estate agent can connect you with trusted professionals in their network. Most buyers feel overwhelmed by all the details and want to do whatever it takes to close the deal, so recommendations an agent can make the process simpler.
» CALCULATE: Calculate your VA Loan savings
Why Use a Real Estate Agent to Sell Your Home
Working with a real estate agent when selling a home can be very beneficial since they offer expertise and support during the transaction. Their experience helps sellers properly maneuver the real estate market and make the most out of their home sale.
Broader Exposure for Listing
Only licensed real estate agents may list homes on the Multiple Listing Service (MLS). This is a huge advantage since most buyers use the internet for home searches. Agents are very experienced and know where your home will have the most exposure.
Also, listing your home takes a lot of time and effort. According to the National Association of Realtors, 28% of for sale by owner (FSBO) sellers end up hiring a real estate agent after failing to market their home by themselves. Agents post listings all the time, so they know exactly what to include and how to properly market your home.
Understands the Market and Can Properly Price Homes
Real estate agents use specific data and market knowledge to set a competitive listing price for your home. Agents have access to comparative market data to find what other homes in your neighborhood sold for. This is key since sale prices disclose how much buyers are realistically willing to pay for a house in the area.
When pricing your home by yourself, you could run into several problems. If you overestimate the value of your home, it could take months to sell. If you underestimate the value, you could miss out on thousands of dollars.
Well-Versed With Process and Paperwork
Selling a home requires a lot of paperwork. Understanding everything you need and handling legal documents by yourself can leave lots of room for error. Local agents know exactly what documentation is required in your area when selling a home. They also have the support of a brokerage that can make sure your home sale transaction is accurate and valid.
Home Usually Sells for More Money
Real estate agents typically can get a better deal on your home. In fact, data from the National Association of Realtors shows that FSBO homes typically sell for less than agent-assisted homes — sometimes, substantially less.. This is a hefty difference and could help pocket more money after paying seller concessions.
Veterans United Realty
Looking for a reliable real estate agent? Consider using our affiliate realty network, Veterans United Realty.
Veterans United Realty connects Veterans to top VA-savvy real estate agents in their area, helping them achieve their dreams of homeownership. Although Veterans United Realty specifically focuses on finding VA-specialized agents, you don’t have to have a VA loan or use Veterans United as a lender.
Veterans United Realty agents will be available every step of homebuying process to ensure you receive the best service possible.
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