photo from unsplash by Ben Rossett
At some point in time, you may have thought of selling or buying property. To save on costs or avoid answering questions real estate people ask, you may even have considered closing a property transaction without representation by a licensed agent. Without an agent, sellers open themselves up to financial mistakes that could leave money on the table due to inattention to a rapidly changing market that leads to a low selling price or extended terms. Trying for an “as-is” sale with the hope that a dream buyer will appear is risky. Buyers can end up paying too much or missing critical disclosure that details the outcome of which are lost in time and money. Experience shows that working with a real estate professional avoids these mistakes and gets results.
Buying and selling property is a process that benefits from strategic planning, market savvy research, objective advice and delivering value on time. The old adage “time is money” directly applies to successful real estate transactions. A timely close of escrow allows you to get your money quickly when selling or take the title when buying. Working with a company like Redmond Realty in San Francisco, which has 30 years experience buying, selling and renovating bay area properties, can give you peace of mind, lower your stress, and ensure that someone with experience will negotiate the best price and terms.
What do Real Estate Agents actually do?
Licensed real estate agents do what you don’t have the time or don’t want to do with your best interest in mind.
- They have passed their state licensing requirements
- They work with an experienced real estate broker who oversees their transactions
- They consult with their clients to understand their needs
- They participate in the local real estate market and news
- They research property values and have active, pending, and sold listing information at their disposal
- They guide you in handling the paperwork involved in contracts and statutory disclosure
- They provide planning and coordinating appointments, open houses, showings, and meeting with potential buyers and sellers
- Lastly, understanding their client’s needs and are paid when they deliver timely results.
When is it The Right Time to Get a Real Estate Agent?
I would say the beginning. But for most people, they wait till they are in a considerable pain of not making real progress and not getting results. An active agent will help you align your expectations with the changing market. Selling, buying or leasing real property is a process. While you are in the process, the market can change due to direct or indirect influences. Consulting with a real estate agent you trust will keep you current and help clarify your needs so key decisions become easy. The problem of doing it yourself is that you might miss an opportunity, make an honest mistake or create a contractual obligation that could have been avoided, which can cost you time and money.
Buyers are at risk of
- buying the wrong property for the wrong reasons
- not understanding the competitive nature of our market and missing out
- not asking the right questions when it’s decision time
- buying a sellers problem
- leaving money on the table when they rush into a contract or remove a contingency
Sellers are at risk of
- “missing the market” when the property is positioned wrong or there is a market change
- negotiating from weakness and inexperience when a buyer gets an advantage
- noncompliance with statutory county requirements
- making unintentionally incomplete or misleading disclosures
- leaving the door open for unwanted litigation
These risks stated would be fixed or prevented by a real estate agent.
Where do you Find a Real Estate Agent?
Real estate agents are in every state making them experts in county and state compliance. It is best to get a real estate agent who has recent experience in neighborhood or area your targeting. Ask for local referrals and interview agents at open houses to test their knowledge and character. In San Francisco Redmond Realty SF has over 30 years of experience in San Francisco on every type of local real estate. Experience gives you something that just a license can’t.
P.A. Redmond
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Reading this article has taught me a lot about the importance of working with a real estate agents. It was interesting to learn that working with an agent can help you to have professional advice when buying or selling a home. I hope this article can help us to avoid selling a home undervalue in the future.
According to the article, the beginning of a real estate venture is the best time to utilize an agent. This is good to know since I’ve been considering looking for a rental property, but haven’t actually begun my search yet. If working with an agent from the get-go will help me find a property sooner, I would have no problem hiring an agent at the beginning of my search.
I never really thought about how real estate agents understand the competitive side of the housing market that normal people don’t really get. My cousin just discovered that, actually, because she tried to bid on a house without an agent and ended up losing the bidding war. I bet if she had hired a good realtor, they could have helped her have more of a chance by advising the right amounts to bid each time. I will definitely not be making that mistake when I find the right house to bid on!
My husband and I are planning to sell our current home and buy a larger one for our expanding family. We are wondering if it would be a beneficial investment to work with a real estate agent. Like you said, they can help align your expectations with the changing market and guide you through the process. Thanks for sharing!
I like how you mentioned that buyers run the risk of spending more money than they intend to when they aren’t using a real estate agent to help them out. As a professional, real estates agents have the experience and skills to make sure that you are getting what you want out of a home. My sister is looking to buy a home, and for the first month or so of her search, she had a hard time finding what she wanted. Now she’s looking into hiring an agent to help her through the process.
My husband and I want to get a house for ourselves now that we’re in a good place financially. I’m glad that you point out that the best time to get a real estate agent is in the very beginning so that they can help you have the right expectations for the market. We’ll have to find a real estate agent who can find us a home we’ll be able to stay in for years to come.
I appreciate that you talked about the importance of real estate agents in buying a home because they research property values and have active, pending, and sold listing information at their disposal. We’re a newly married couple who are new in the process of buying a home, and I think that we’ll benefit from hiring a real-estate broker because of their experience. It’s good to know that they could guide us in handling the paperwork involved in contracts. Thanks for the advice!