What will a realtor do for you and why do you need one? An age-old question asked by both buyers and sellers since this industry became a government regulated one. Well, what a realtor can do for your you depend on whether you’re buying or selling. You can skip below to whichever one you are doing so you know.
For Buyers: If you’re buying a home, although you may not require a realtor, you will likely almost certainly be dealing with one. Often, the realtor on the seller’s side will end up acting on behalf of both sides of the parties which usually leads to a conflict of interests. So, although you may not ‘’need’’ to work with a realtor, the extra help wouldn’t hurt. Having someone help negotiate, serve as a witness, and show you homes all for no cost out of your pocket doesn’t hurt. Here are a few more reasons:
1.Connections & Time-Saving
Now, every buyer’s agent has access to all other properties listed by other agents, they have experience in knowing how to get a deal done quickly, effectively and efficiently. For example, if you know the type of home you want to purchase, the real estate agent will automatically begin tracking down homes that fit your criteria, setting appointments, negotiating and keeping his (or her) finger on the pulse all for you without you having to lift a finger. This saves time for you from having to play telephone tag and making connections in the space. Yeah, you could use websites and spend all night going through the thousands of pages to find a home. However, you won’t be on the cutting edge of properties that are in your criteria/ ‘’sweet spot’’ as the best properties move fast usually through referrals because chances are, if it’s worth having, its being looked at. Also, you likely have things that need to get done as well, why not get someone who’d got an incentive to find the best homes for you to put in the work for you for free?
2.Contracts and Legal Issues
Often, with every property, or piece of land for that matter, there comes a set of legal rights, restrictions, negotiation clauses, and rules, that can lead to blunders that result in lawsuits, heartache, and loss of money. Having someone who’s got a lot to lose in terms of their professional career and to protect themselves from liability as its often the case that it’s an agent’s duty to act in the best interests of their clients or be liable as well, can help keep you out of harms way with the law. For instance, an all to common example can be failing to make financing on conditions from a sale with specific types of mortgages, can cause you to lose your initial deposit on the home entirely and even be sued by the seller for failing to fulfill your end of the contract.
Most realtors are familiar with the law and dealing with contracts and specific conditions and are required to make sure their clients understand them clearly. They are familiar with the conditions to be used, what they mean to you and how to make sure they’re in your best interests.
For Sellers: If you’re selling your home, and want to have it sold without heartache, putting in countless hours and a whole lot of frustration, make things simple and get a realtor. You, as the seller is more times than not much, much more often sued than the buyer, they’re usually the ones who must pay special attention to all the nitty gritty details to be in compliance with all the legislative acts. You need to make sure all latent defects are disclosed to the buyers, make sure your agents do a thorough check from the land title office to see all the vital details that pertain to your property and the buyers are made aware of the necessary parts and all sorts of other details here and in between. Your agent can save you from all sorts of run-ins with the law, but that’s not all, he (or she) will also:
1.Have a fiduciary responsibility to you
What does this mean? The agent is bound by license law to act in your best interests (not his or her own). Also, they have every incentive to do so as the longevity in this business comes from referrals and repeat customers the only way that happens is if they really get their client’s results. They are often than not also just as liable as you, if not more (usually more). So, this puts an extra burden on their shoulders to make sure everything is kept in accordance with the law and in your own best interests.
2.MLS, & Network
If you’re interested in selling your home fast, and without a headache or crazy effort put in on your part, having a real estate agent work with you can be one of the best decisions you make in serving that goal. When it comes to selling your home, a realtor has access to the MLS (Multiple Listings Service) which gives them direct access to more buyers in the market looking for homes like yours. On top of that, they have established relationships with proven appraisers, home inspectors, local officials, banks, lawyers, and other agents who are all going to be orchestrated to sell your home for the price its worth by the realtor. You won’t be having to lift a finger making phone calls, doing tedious paperwork/contracts, coordination with the lawyer(s), pricing research, or anything in between, it’ll all be done for you by an agent to the standard required to sell your home by someone who has experience doing it and every incentive to see it gets done correctly.
For more tips on choosing an agent to work with in Surrey click the link to check them out: Tips For Choosing Surrey Real Estate Agent
Or, if you’re interested in discovering how much realtors charge, check out the link.