Consumers are often of the opinion that when it comes down to buying or selling a property, real estate agents are an unnecessary evil. However, this may not entirely be true. In a complex real estate market you do require someone who knows the ins and outs of the market. Property purchasing can be very daunting and if you are a first time buyer, it helps if you have professional help. Listed below are a few reasons why you should hire a real estate agent:

Real Estate Agencies: Do You Need One?

1. Expertise: Put simply real estate agents have the expertise in their field that most common individuals would not. Just the way you would not try to pull your own teeth out and would visit a dentist, similarly it does not make sense to try and find your way through something as complicated as the real estate market. By hiring a professional you are rest assured that the individual’s expertise are working in your best interest.
2. Filters: Without a real estate agent you could end up wasting a lot of time trying to find the correct house for yourself. You obviously know the criteria, but you do not know which houses fit those stringent rules. Under these circumstances, when you convey what you are looking for in a property to your real estate agent, your agent with his/her vast database can help you narrow your selection down to a few houses. All this can be done without the unnecessary fuss of having to visit several properties.
3. Knowledge: At the end of the day we must acknowledge that real estate agents have a lot of knowledge in their area of expertise, as they would be expected to. Starting from the best deal available in the area, to what the average price of properties in a particular city, suburb or locality is. In addition real estate agents, if you have worked with them before, can also show you certain properties prior to them being offered on the open market, in which case it eliminates any competition that you may face.
4. Price: Owing to the fact that real estate brokers are well versed with property prices in and around they areas in which they operate, they can look you up if they feel that the asking price on a property may be higher than the current market asking price for a similar property.
5. Negotiating: Once you make an offer on a house, this part of purchasing a property is best left to the experts. Owing to the firm grasp which real estate agents have on property prices, it is best if the negotiation process is left up to the real estate agent. They can the seller real facts and figures and thereby cause the seller to rethink the asking price.
6. Paperwork And Questions: Complicated paperwork is inherent as far as real estate buying and selling is concerned. Your real estate broker will be able to help you with completing the paperwork, securing finance or directing you in the right direction and even point to certain flaws in the real estate contract. Moreover, after the buying or selling phase is over, it is always comforting to know that should you have any questions later, there is always an expert you can direct them to.

These are some of the reasons why it is very beneficial to have a real estate agent.

When you are selling through a real estate agent remember that they have your best interest at heart. After all if your house doesn`t sell they don`t get their commission. Here are some pointers on do`s and don`ts with regards to conducting business with your real estate agent:

DO try to build a relationship with the agent. It can work wonders and you will find that you are getting honest feedback about the marketing of your home.

DO realise that they have other clients too. Agents with lots of properties on the market generate lots of buyers, which is exactly what you want.

DO keep them informed of any changes to your position or circumstances.

DO make sure that the agent can get hold of you easily. If he/she has a client in the office wanting to view your property and they can`t get in touch with you the buyer may decide to look at another property.

DO take the agent’s advice with regard to price if your home has been on the market for more than 12 weeks.

DO plan regular updates with them.

DO ask them to detail what the marketing plan is, so that you know what they are doing.

DO always keep the communication corridor open. Never let communication break down to such an extent that neither party wants to phone the other. You have a mutual interest in selling.

DON’T wander into the estate agent’s office demanding an update regarding the marketing. Make an appointment to come in and see your contact. That way you won’t get quickly made-up excuses but a properly thought-out update.

DON’T ring up every time you go out of the house just to let them know that you will be out.

DON’T blame the agent if a potential buyer fails to turn up. It is usually the buyer’s fault.

DON’T forget that they know the market far better than you, especially when it comes to prices.