10 Benefits of Working With a Realtor
Benefits of Working With a Realtor
Are you considering buying or selling and are wondering if you should work with a realtor? Here are all the things you should know about working with a realtor and the benefits of doing so.
We all know that you can search online for your next home, but when it comes time to actually buy a house, working with a real estate agent can make a huge difference. Some people may choose to go down the FSBO, for sale by owner, path; however, there are many reasons why working with an agent can be more beneficial.
A buyer agent or a seller agent will take time to help you find the perfect home and place you on the path to a successful homeownership. There are so many active real estate agents all across the country helping you find the ideal agent that meets your needs and preferences to get precisely what you want.
Navigating the world of real estate can be confusing, but having a reliable realtor by your side will help smooth the buying or selling process. Home buying and selling experinces are all different, but overall, many have found that working with a real estate agent has helped them be more successful. Working with a realtor has many benefits, so keep reading to learn more.
Here are the benefits of working with a realtor.
Chapters
1. What is a Real Estate Agent?
Real estate agents are licensed professionals responsible for representing buyers and sellers during different types of real estate transactions. Most states require people who become real estate agents to work for a professional broker, which can be a firm or a single person.
To be a real estate agent, you have to take a pre-licensing course and a real estate exam. Once you are an agent, you can become a broker and help. Real estate agents earn ample experience and have many education requirements, making them trustworthy in the huge decision of buying real estate.
2. Save Time
Many people sit down and search online to start their home search, and if you have done this before, you understand that this process can be long and draining. Searching for homes can be a time-consuming task that many people do not like to do.
Once a real estate agent understands what you are looking for in a home, they can start to narrow down properties that do not fit that criteria and attend open houses for you so you do not have to waste your time. Working with an agent will help eliminate looking for homes that are not what you want and can save you a lot of time.
3. Getting a Better Price
When you use a real estate agent in the purchase process, they will help you get the most out of your budget. Real estate agents are there to know if a home is priced well, too high, or even too low for where the property is located. Realtors are there to ensure you do not pay too much for a home that is not worth the price.
Your realtor is there to make sure your purchase price is a good investment so you can use all your finances and budget as a homeowner. Real estate agents are highly knowledgeable about what features are worth the price and how your finances will be impacted in the future with a certain real estate purchase.
According to a 2021 report for the National Association of Realtors, the typical for-sale-by-owner home sold for about $260,000 compared to $318,000 for an agent-assisted home sale. That is $58,000 more in the pockets of the sellers using an agent, which is more than enough to cover the cost of commissions and still make a profit.
4. They Have Access to the MLS
MLS, the Multiple Listing Service, is one of the most effective communication tools in the home buying and selling marketplace. However, you do not have full access to it unless you are working with a realtor. Other online home search tools can be helpful, but they do not have all the available listings, which will affect and limit your home search.
The MLS is a powerful tool in the real estate industry. It is designed to alert real estate agents to open houses, new listings, and other valuable tools that help find perfect matches for what you are searching for. Without the MLS, you can still search for affordable homes for sale, but your options are limited.
5. Their Ethics and Expertise
When you are searching for a perfect agent to work with, ask if they are members of the National Association of Realtors. Every member must adhere to the Realtor code of ethics, which is based on professionalism, serving clients' interests, and protecting the public.
The fundamental benefits of working with a realtor are two big things: ethics and expertise. Realtors voluntarily hold themselves to a high standard, like doctors and attorneys. They are guided by principles and responsibilities that prioritize the client.
Expertise is also demonstrated in many ways, such as finding homes that meet your specific needs and wants, pricing and valuation, knowledge of building codes, binding agreements, negotiations, and many other things, which is the main reason why working with realtors will be critical when you are buying and selling.
Having someone who properly represents you will help you sell for more, buy for less, and avoid mistakes, as the home-buying and selling process can be difficult.
6. They Know The Area
One of the main benefits of working with a realtor is that these agents fully understand the city they are working in. Their knowledge lets them show you the best areas, understand the market conditions in that location, and make sure you get the best price.
This will be very beneficial, especially if you are wondering what kind of neighborhood you want to live in, how far it will take you to commute, what kind of schools are in the area, and anything else you want to know about the location.
7. They Know The Market
The real estate market is constantly changing, and it can be hard to keep up with it on your own, especially if you do not understand it. Some changes in the market can be minor, like price fluctuations, while others are important, such as interest rates. Each state and city has its own real estate markets, which are beyond the national market.
Agents constantly monitor these market changes for their clients, keeping you in the loop so you can make sure you are buying at the best time. Knowing the current market trends seems like it won't have much of an impact on you as a buyer or seller, but it is essential to keep up to date on these trends, and that is why having an agent help you can be very helpful.
8. Faster and More Efficient Closing
An experienced agent will save you so much valuable time. The closing process can be very long and confusing, with a lot of back-and-forth, and if you are doing an FSBO route, you are responsible for everything, which can be a lot.
A lot of paperwork is involved with buying and selling, and it can get very overwhelming. Many responsibilities need to be dealt with, and having an agent helps you because it is their job to handle those things.
The better the agent understands your needs, the better they can help you and make this process fast and smooth. When you are searching for an agent, make sure you find one that understands what you specifically want so you can have a successful time buying or selling a home.
9. They Can Negotiate
Buying a home can involve hundreds of issues, many of which are up for discussion in a real estate transaction. You can talk to the owners, but having a realtor who knows the ins and outs of negotiations will help you more.
A realtor works on your behalf using their professional knowledge and skills to ensure they land you the best home at the best price. They are also there to advise you on any surprises that may occur during the process.
A real estate agent provides clients with peace of mind that a deal will make it to the closing table at the best price with the least amount of stress. When it comes to buying and selling, there are many things negotiations are beneficial, so having a professional who understands everything about the real estate transaction will help you be more successful.
10. They Have A Professional Network of Resources
The real estate professional network is different from any other network that you may be familiar with. Real estate agents constantly interact with each other and the community around them about properties and hidden gems. This is not an inner network that you likely do everything with, so having an excess to this inner network leads you to many different resources, which will have a huge impact on your home buying.
Methodology
We used information from different sources and our data to show the benefits of working with a realtor. We used various data, so we put them together as a guide.
The sources listed above are a few we used to gather most of our information about the benefits of working with a realtor.
FAQS
Why should you always use a realtor?
Your real estate agent knows and understands the local market, so it can be easier for them to set accurate listing prices for your home and find you the best deal when you are looking for a home to buy. Agents are there only to help you with transactions while using their knowledge of the real estate world.
What are the main pros and cons of using a real estate agent?
Like other things, working with an agent always has pros and cons. The pros are the access they have to the local markets, the skilled negotiators, the ability to save you time and money, and their ethical behavior. A few cons are that working with agents will cost you money, and sometimes, it may be hard to find the right agent.
Why use a realtor vs selling yourself?
Agents are experts in what makes a home sell. They can walk you through everything that will help you attract buyers and get the best offers. Agents have the experience and knowledge to help you get the best deals and make sure you get the most out of your investment.
Benefits of Working With a Realtor - The Bottom Line
While working with a realtor is not necessary when buying or selling, hiring one is usually worth it. Real estate is a very valuable asset, and having a professional by your side can help you make the most of that investment and ensure the transaction goes smoothly.
Many benefits can make the buying and selling process easier, more efficient, and less stressful. Realtors have the knowledge, experience, and expertise to help you navigate the confusing real estate market and provide you with guidance.
Many NAR studies show that homes sold by real estate agents tend to sell faster than those sold by owners. The data also shows that agents help homeowners sell for more money and help buyers find homes with the best deals. Agents represent the majority of homebuyers for many reasons.
So, if you are considering buying or selling your house and are wondering if working with an agent is worth it, the short answer is yes. There are various reasons why working with realtors is worth it.
When you are searching for a trustworthy agent, it is important to ask certain questions before hiring to ensure the agent specifically meets all your needs and preferences and that you have the best guide through the process.
If you are considering moving or selling, contact us or visit our website. Our team at Raleigh Realty is here to help you with any home buying or selling needs.
Ryan Fitzgerald
Hi there! Nice to 'meet' you and thanks for visiting our Raleigh Real Estate Blog! My name is Ryan Fitzgerald, and I'm a REALTOR® in Raleigh-Durham, NC, the owner of Raleigh Realty. I work alongside some of the best Realtors in Raleigh. You can find more of my real estate content on Forbes, Wall Street Journal, U.S. News and more. Realtor Magazine named me a top 30 under 30 Realtor in the country (it was a long time ago haha). Any way, that's enough about me. I'd love to learn more about you if you'd like to connect with me on Facebook and Instagram or connect with our team at Raleigh Realty. Looking forward to connecting!
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