Real Estate Agencies: Selling Advantages

1. Network: Owing to their line of work, real estate agents have very good network connections. Apart from buyers in and around your immediate area real estate agents have access to buyers from other states as well as overseas. In light of this fact real estate agents can sell your house much faster than if you did on your own.
2. Screening Of Buyers: Often consumers find that once they have advertised their property for sale, a lot of non-prospective buyers, come knocking. Real estate agents can help you by screening these buyers. Once you have told the real estate agent what your criteria for the sale is he or she can easily bring only those buyers who would actually affect the sale.
3. Pricing: Consumers often feel that they know best what the property price is. In light of the fact that we have been experiencing a massive credit crunch, prices of property has fallen across the board. Real estate agents are well aware of these prices and can help you correctly price your house.
4. Tips To Make A Quicker Sale: Certain phrases are true especially in the real estate market. One such phrase is “ leave it to the pros”. Real estate agents know exactly what buyers are looking for. When you appoint a real estate agent to sell your property, not only do they look for prospective buyers but also advise sellers as to what buyers look for when purchasing a property. Real estate agents would give you advice on everything from how your front lawn should look to Just what the interiors should look like and also thought what extras you should offer to make the sale more attractive.
5. Future Business: Once you’ve sold your property as a seller, the process does not necessarily end there. There is a lot of paperwork that needs to be completed. It is always beneficial to have an expert’s opinion or someone who has ample experience dealing with such paperwork. In addition to this as a seller you may find that at a future date you are a buyer. Under such circumstances it helps if you have a professional relationship with a real estate agent, who in this case would help you buy a property.

Real estate agents exist in the market because they serve a lot of purposes. Not only do they bring together buyers and sellers they also facilitate transactions and can point buyers in the right direction to obtain financing. This in turn helps the seller make a quick and easy sale.

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.

Finding the right real estate agent is crucial if you want to sell your house for the best price and in the shortest time possible. A property that stays on the market for a long time can give the impression that there is either something wrong with it or that it is overpriced. Any delays selling your own home can mean you miss out on your next dream home because someone else is in a better position to move quickly.

Don’t bother physically looking at properties if you are not ready to buy. It is a waste of your time, the owners’ time and the agents’ time.

Before viewing

Speak to a mortgage advisor and solicitor before you start looking.

Word of mouth

The best way to find an agent is from word of mouth. Ask people you know if they have sold/bought a house and what real estate agent they used and if they were any good. This way you will find out which ones are the best and which ones to stay clear of.

Tour the area

Tour the area and surrounding area you are looking to buy/sell and jot down the ‘For Sale’ and ‘Sold Boards’ or (‘Under Offer’) per agent. Then make a comparison chart. Calculate the agent with the highest number of sold boards as a % of the total number of boards they have up. Try to buy through the agent with the largest market share. (Often the prices of their houses are cheaper). Selling your house should be a quicker process as well as they will have more clients then others.

Get a few quotes

If you are selling make an appointment with at least 3 agents to come out and give you a valuation prices and ask how much commission they charge before deciding on the one you want.

Register

Register with as many agents as you can. If any of them don`t get back to you within 2 weeks contact them but if they continue to fail to get back to you then take your name off their mailing list. Make a note of the agents you are registered with.

Get to know your agent

Meet your real estate agent face to face and not over the phone, not only will you know what he/she looks like but it is more personal and you can build a relationship up with him/her.

Give them a wish list

A wish list is just a description of the type of home, it`s features, the area etc. that you are looking for. Most agents don`t care about what you are looking for in a house just what price you are willing to pay. And they will keep sending you property listings for that price range. Cut all of this out by giving them the wish list and tell them that you don`t want to be contacted unless the property resembles what you are looking for.

Contact details

Most agents have lots of buyers and a limited amount of time to contact them about new properties that come on the market. Make sure you give them as many contact numbers as possible.

Viewing

In a busy market, view properties without waiting to see the particulars. View a property during the day so that you can get a good look and to see if there is any thing that needs done to it. If you are interested in a house go back and have a look around the area at night then you will know if the area is as quiet as it looks during the day or if there are kids hanging around on the street corners.

Make a real effort to get on with the owners

Ask how long the property has been on the market. If it has been on the market for a while there might be a reason, in need of major repairs, bad neighbors, bad neighborhood etc.

Offering

As soon as you decide you want it put in an offer straight away. Most people don`t as they think they can wait a while and when they go to make an offer the house is already gone.

Don’t give the agent any impression that you might increase your bid (if you are nervous about slipping up, put your bid in writing).

Get a ‘home buyers’ survey carried out if the property is more than 10 years old.

Don’t be afraid to re-negotiate the sale price if a home buyers survey identifies work that needs doing.

Try to set a deadline exchange date and ideal completion date when agreeing your offer.

Make your offer including any major fixtures and fittings you want included.