When looking to buy or sell a house, many people try to go without a Realtor. This decision may seem like a “money saving” step. But it could actually end up costing you thousands of dollars in the end, even though you feel like you’re saving money.
A Realtor could also save you from making severe mistakes or stressful situations caused by contract negotiations, contingencies, and other situations that you are not prepared to deal with. A Realtor will handle the following issues when you are buying or selling your home, as well as handle many other duties, that should make your buying or selling of a home easier on you.
Buying A Home
Your Realtor will:
- Help you in finding your range that you, as a buyer, will be comfortable in purchasing. They will look at the amount you are able to borrow, what your income provides, and what you have saved already. From this point, they can also direct you to a lender who is best suited to help you.
- Investigate the market using different search methods in order to come up with the best homes that fit your desired descriptions. That may include school location, job location, house size, house style, features, and location.
- Negotiate on your behalf. Negotiating is more than just talking numbers. There are many factors involved which your Realtor is used to dealing with. Because your Realtor is familiar with this process, his/her tactics will be better suited in getting the house down to the best price according to your range that was established using your income, down payment, and lending resources available to you. They will make offers and counter offers in order to keep the home in your price range.
- Be helpful in providing referrals for (future) services for your home inspection of such things as; termites, radon testing, structure, septic and/or well tests, dry rot, lead testing, etc. This does not mean that they pay for these important tests. It simply means that they will look out for your best interests in arranging or helping to arrange these tests.
- Walk you through the final piece, which is known as the “closing”, and make sure that everything is taken care of before your purchase is finalized. This would include the tests that were done to your house which should include written or printed reports for your ease of mind as documentation that they were done.
Selling A Home
Your Realtor will:
- Advertise your property to other Realtors and possible buyers searching the MLS (multiple listing service).
- Provide peace of mind as you continue to do the many other things that your life involves. Whether it be looking for a new home to buy, pack, or continue in your daily line of work, your Realtor will take care of all the critical parts that involve selling your home.
- Schedule times for showings, walk throughs, inspections, appraisals, etc.
- Provide you with information regarding the market, proper pricing, financing, and what other properties that are similar are for sale as well. This is good to be aware of for your negotiating purposes. This will either make your property more valuable, or force you to change your “market price”. Your Realtor may also provide a time frame in which your house will be sold, or they will buy it from you. However, this is not common for all Realtors.
- Answer questions that arrive during the selling and closing process. Each potential buyer may have things that they would like inspected, repaired, or adjusted (including the price). Your Realtor will best be able to answer each question and work with you in reaching a reasonable agreement for each question or issue.
- Market or advertise your house to the best of their ability using their marketing strategies. Realtors are trained with knowledge in marketing tactics. They also should have a good client base already established, therefore many of your possible buyers may come your way by word of mouth. Your Realtor will most likely have a website established as well, which means that your listing is probably going to be posted on his/her site.
- Evaluate each potential buyer on whether they are qualified or not. When a buyer comes forward with a bid that meets your requirement, your Realtor will begin the process of selling your home. This is not a simple 1-2-3 process, so be aware that it may take longer than you expected.
- Draw up a contract for the prospective buyer as well as negotiate, make offers, and counter offers.
- Assist you with contingencies based on the contract that was drawn up. This may include repairs, inspections, installation, clean up, etc.
If you have any questions or we can be of any help with your real estate purchase or sale, please do not hesitate to call us at (586) 439-0400 or visit our page of professional agents.