Benefits of working with Real estate agents.
Real estate agents are licensed professionals who represent either the buyer or the seller in real estate transactions. They work mostly so that they can earn commissions hence their income is purely dependent on their ability to assist clients and close transactions, it’s a performance-based pay system. Real estate professionals are mainly grouped into buyer agents and seller agents. However, in some cases, an agent can represent both the buyer and the seller. Laws regulate whether a real estate representative can represent both the buyer and the seller in a real estate transaction, in B.C. effective Jan 1st, 2018, dual agency is likely to not be allowed. The reason being it arouses a conflict of interest.
Buying or selling of a property is usually regarded as a very important financial undertaking this is why you want to make sure you make the right decisions, here are a few of the benefits of why working with a realtor will help you make a more appropriate decision.
1.You can’t be in two places at one-time.
While you are occupied with your own life and living it, your agent is likely occupied with the selling and purchasing of real estate, its what they do. This allows them to have their eye on the ball for you without distraction, and apply their knowledge of the market to help negotiate the best deal for you with those other buyers or seller’s agents. They also possess the expertise needed to get the best possible deals done for you. They act as a liaison between buyers and sellers. This makes it easy for them to have access to properties listed by other agents.
For buyer agents, they hunt for property meeting your requirements, contact seller and schedule viewing times, and play phone tag for you. When buying yourself, you will have to do it yourself which might be difficult especially if you are shopping for a property sold by owner.
For seller agents, they will solicit calls from prospective buyers, answer questions and make appointments. They will offer just in time responses for you. On top of all this, they have their finger on the pulse of the market and can show you the best properties and get you access to hungriest buyers if your selling because of their access to a greater network in the local area.
2.Negotiate with and for you.
If you’re a buyer, they not only will hunt down the best possible properties for you, they will also strive to negotiate the best possible offers for you, none will be submitted without your approval, so you ultimately only end up paying for what you believe is a great deal, and without finding a great deal for you which you say yes to, they don’t get paid. They have every incentive to do all they can to negotiate the best possible deal for you. And, it’s the same if you’re a seller, they only negotiate the best possible deal for you and you must be the one who has the final say, they only get paid if you accept, and you only accept if it’s a great deal, therefore, they will do all they can to get you great deals.
3.Surrey real estate agents manage your contracts.
Most real estate transactions involve the parties drawing and signing a contract which signifies the success of the real estate transaction. Contracts are legally binding documents hence the need to ensure that the contract was drawn favors you as the buyer or seller. Real estate agents deal with contracts regularly and have been trained in creating contracts of purchase and sale. Involving them ensures they craft the contract thoroughly safeguarding the buyer or seller from losses if one of the party breaches the terms of the contract, making sure everything runs smoothly in almost every scenario.
4.Keep you in-check with the laws.
The general perception that money can only be saved during the acquisition of a property can be very costly to one, run-in’s with doing the purchasing or selling process wrong can cost you tons.
For example, from the buyer’s perspective, one might pay a ‘low’ amount to buy a property but subsequently, spend a lot of money in maintenance and repair. Also, from a seller’s perspective, one might receive a ‘high’ amount during the sale but spend a lot of money to fight potential lawsuits that the buyer might file when he or she realizes certain aspects of the property were intentionally not mentioned during the sale. A real estate representative can protect one from these since they are experts in the property sale, they’ve done this countless times and know what to do to prevent this from happening and making sure you walk away with what you expected.
5.Information on market conditions.
Real estate agents keep their finger on the pulse of the market as dealing with the buying and selling of real estate is what they do, they can disclose information on the market that can dictate your buying and selling process. Coming up with the right procedures and processes or the right price is not as easy as it sounds. They understand there are lots to be considered for example average per square foot cost of similar properties, median and average sales prices, average days on market and ratios of list-to-sold prices among other criteria. These may ultimately have a huge impact on what decision the buyer or seller makes in the end. They’ll keep you informed with what you need to know to get what you want.
6.Real estate agents have a fiduciary responsibility
Realtors have a fiduciary responsibility to their clients, they’re required to put your best interest ahead of your own. They face immeasurable legal consequences where they don’t. Realtors abide by a strict code of ethics as well and will likely lose more than they gain from breaching that code of ethics or fiduciary responsibility. All agents also rely on a good reputation and referrals to be able to carry out and get businesses hence building a good name is as much of importance to them. This, therefore, makes them motivated to get you the best deal they possibly can, their business depends on the results they bring to their clients.
Taking a simple look on some of the frequently asked questions by people on some of the property sites, it becomes clear to anyone that the process of property sale or purchase is difficult, unlike the general perception that it is easy. During these difficulties in purchase or sale, Real estate agents offer the much-needed property solutions to get either the buyer or the seller the best deal!
73-7358 131a street Surrey BC V3W 8V5