Author: Jolene Quinn, eBusiness Manager of Alain Pinel Realtors
Buying and selling real estate can be one of the most rewarding undertakings a person can go through but it can also be one of the most stressful. As a buyer, it is most likely the biggest purchase you will ever make! As a seller, you want to get your home sold quickly and for as much money as possible. With this much money involved on both sides, it can be extremely emotional.
The average search for a home can be anywhere from 8 months to 2 years – and it can be very overwhelming.
Working with a real estate agent can help!
Education and Experience
Real estate agents must take many hours of continuing education on law, ethics, fair housing, trust fund, risk management, contracts and business planning, just to name a few. Many agents work 6 or 7 days a week. They see the greatest number of homes and know the inventory in your desired area. They have a working relationship with the other agents and many times know of homes that are just coming on the market or not publicly listed. Once your offer is accepted, your real estate agent will help navigate each step in the closing process
Knowledge of the Area
An agent will know if the home is overpriced, meaning room for negotiation or underpriced, meaning the seller is encouraging a multiple offer situation or a quick sale. Agents know which homes have been professionally remodeled and how much those remodels should translate in terms of market value. Agents can identify comparable sales such as the home that sold for less after months on the market and falling out of escrow. Your agent will have knowledge of the neighborhood and be familiar with school information, public transportation and local business. Agents view all the homes in their market which can help you weed out homes that do not fit your criteria, saving you time.
Top producing agents negotiate well because they are experienced and know the right way to present offers. This is extremely important if you are in a multiple offer situation. Agents can take out the sometimes emotional aspect between the buyer and seller and present you in the best manner. There are times you may want to renegotiate due to the home inspection or disclosures and request the seller to fix certain items. In many cases sellers are selling the home “as-is” and do not want to fix anything. An agent has the experience to make the requests.
Did you know?
1. In most cases, a buyer does not pay an agent; the seller pays the commission and splits it between the seller’s agent and the buyer’s agent so the services are essentially free to the buyer. The commissions are already established when the seller lists the home for sale.
2. Working with “one” real estate agent rather than several, is best. Agents have access to all the same information so finding an agent that you feel comfortable with, who is responsive, and an expert in your desired area are all key. Make sure the agent that schedules your appointments is the same agent you want to write your offers.
3. An agent’s success and continued career in real estate are referrals from their clients. These referrals give agents strong incentives to make certain their clients are happy and satisfied.
About Author:Jolene Quinn is the eBusiness Manager at Alain Pinel Realtors. She has almost 20 years in real estate and over 13 years working directly with internet leads. Prior to working with APR she managed the eBusiness department of a large real estate company that spanned 3 states. She was responsible for taking the department from ground level to one of the most successful eBusiness departments in the nation.