Whether you are buying or selling a property, you have the choice of doing it yourself or hiring a real estate agent. A real estate agent is a professional who has been trained in the procedures and requirements of conducting a real estate transaction. If you choose to hire one, you will reap numerous benefits, but it will cost you a percentage of the transaction. Let’s start with the pros of hiring a real estate agent.
As already mentioned, a real estate agent is both trained and experienced in handling real estate transactions. This means that they know which documents are required, who should sign them, and where they should be submitted. This ultimately leads a smoother transaction, free of any legal issues. Attempting some transactions as a lay person may lead to complications which could jeopardize the deal.
A real estate agent, and especially an experienced one, will have a wide network of contacts within the industry. As a buyer hiring an experienced real estate agent is your best bet for getting your dream house quickly. As a seller, you are more likely to sell your property faster with an agent on your side. If time is a factor, you will enjoy the expertise a real estate agent brings.
Real estate transactions can be quite tedious and stressful. If you are selling, you have to take care of the marketing, house visits, and deal with calls from interested buyers. As a buyer, you have to visit the properties to check their suitability and inspect the amenities. In both cases, there is a lot of planning and coordination involved. It is also likely you will have to negotiate a price. A real estate agent will handle all of those responsibilities for you and ensure you get the best deal possible.
In addition to these benefits, a real estate agent will also offer valuable advice and answer any questions you may have. It is safe to say that you have a lot to gain when you hire one. But what are the cons of using a real estate agent?
If you are buying a property, you will have to pay a real estate a fee for their services. If you are selling, you will have to pay them a commission from the money earned from the sale. In both cases using a real estate agent comes at a cost. As the client, you will have to weigh the benefits against the cost and determine whether it is worth your while.
Hiring a popular real estate agent who has many clients can leave you shortchanged. If you are a buyer, a real estate agent might try to convince you to buy a property you don’t like because the seller is their client. As a seller, they may put less time and effort into selling your property, especially if it is less attractive or lucrative than the other listings. This can lead to a lot of frustration and inconveniences.
All in all, the decision to hire or not to hire a real estate agent depends on you. Look at the pros and cons and evaluate your individual situation to determine the best course of action.