Reasons buyers and sellers benefit from a real estate agent

There can be a lot to learn when buying or selling your first home. Even for those who have concluded property transactions before, the process can be complicated and stressful.

The world of property transactions can be incredibly overwhelming - especially for first time buyers - without the advice and guidance of a qualified real estate professional.

He adds that there are many ways that a real estate agent can prove helpful, from sharing expert advice on unfamiliar terminology and processes, to helping negotiate and close the deal on a client's behalf.

Here are some main concerns among buyers and sellers. According to their findings, home buyers needed the most help on (a) researching listings; (b) identifying wants versus needs and priorities; and (c) guidance around home repairs and renovations.

On the other side of the transaction, sellers reported needing the most help with (a) pricing the home; (b) understanding the sales process as a whole; and (c) closing and finalising the deal.

It is advised to local real estate professionals to make sure they are able to offer expert assistance in these main areas of concern. Being a good agent means more than simply matching a buyer to a seller. It also means providing expert advice and guidance throughout the home buying or selling journey. This is what will lead to repeat and referral business and that is what will set you apart and help you become a top real estate professional.

For clients, it is recommended working with a reputable agent who can provide exactly that kind of service. Not all real estate professionals will provide the same level of service. Take the time to find somebody who is reliable and helpful, as their guidance will prove invaluable throughout the process.

Agents do not only sell or rent property on behalf of their clients, but also have their ear to the ground in terms of what current property values are, how much properties might sell for, and what is happening in the property market.

With so many newcomers to the market, often making lofty promises of high prices and quick sales, it is easy for sellers to get caught up in the hype. A property which simply sits on the market with no or low offers can be very frustrating for buyers.

The role of a good agent in getting your property sold as fast as possible, and for the best possible price cannot be overstated. A bad agent could leave you with a lengthy and frustrating sale process.

Regardless of when you are selling, but especially in the current market, it is important to ensure you choose the right agent for your property and market. If you are not aware of who the best agents in your area are, ask around for recommendations from neighbours or friends.

Always meet the agents in person before appointing them:

This will give you a chance to ask questions and assess the agents. Check how long they have operated in the area. Each area is different and local expertise is a vital point of advantage for any seller.

Look for a successful sales track record:

Ask for a list of their recent sales in the area, how long it took to sell, and the prices achieved. A strong sales record is an important indicator of the likelihood of success and that the agent could find the right buyer for the property.

A strong brand and network are another advantage:

An established brand will have a strong online presence for maximum exposure of your property backed by the latest technology and marketing and sales methodologies. They will use best practice to market and sell your property.

Look for someone who will assist every step of the way:

Selling a property is a complex process with many legalities to be taken care of. A good agent will explain the process and guide the seller to ensure they have all the necessary documents and maintenance done for an efficient selling process.

Choosing the right agent to sell your home cannot be over-emphasised, especially if you are selling right now as you will not want to waste time. Choose the right agent and ensure you follow their advice.

1. Location, location, location! Also known as the Three L's:

There are three micro locations that define the actual location of a property on a macro level. If the property you want to purchase is in an estate for example, you may want to find out what area of the estate it sits in and what that actual area provides, such as a good sea view, etc.

2. Financial stability is important:

Get your credit card payments and debts in order.

3. Budget:

Establish a realistic budget to determine your affordability. Create a budget and try to stick to it so that you can enjoy the process and not put yourself under too much pressure.

4. Find a trustworthy real estate agent:

This is the person that will assist in picking out your potential home and exploring your new neighbourhood and is also responsible for scheduling tours and negotiating important contracts on your behalf. Ensure that this is someone you trust, to have your best interests at heart.

5. Get approved:

Get a pre-approval letter before you start shopping! This will help you have realistic expectations on what you can afford.

6. Be mindful of transfer and closing costs:

First time buyers usually tend not to factor these costs in, and it comes as a huge surprise at the end. Doing your homework is a very vital part of house hunting.

Becoming a first-time homeowner can be an overwhelming experience and requires careful consideration of several factors. With the expert advice, first-time home buyers can make an informed decision and successfully unlock the door to their dream home. 

Extract from Property 24