87% of buyers used a real estate agent or broker to buy a home. 90% of sellers used an agent.
This includes new construction homes and the rising popularity of house flipping. They involve a constant back and forth that can be difficult to manage alone.
Read on to learn the benefits that real estate agents provide during real estate transactions.
Experience
The median amount of experience for an agent is 8 years. They perform an average of 12 transactions every year.
Look for one that's familiar with all the different types of property transactions and can recommend the best ones for you. There's a broad range, covering:
- Purchase
- Sale
- Lease
- Construction
- Division
Access to Other Professionals
A real estate agent doesn't and shouldn't have to work alone. They have a team of professionals such as:
- Property lawyers
- Chartered accountants
- Financial service providers
- Service agencies
This centralizes the work of each real estate transaction, saving you time and money.
Scheduling
The property transaction process requires several steps, and a real estate agent will handle all the scheduling.
They'll also remind you of when each step needs to be done. If you can't be at a meeting, you'll receive a record of it.
Choosing Properties
Showing you properties that don't fit your needs is a waste of time, so the agent must ask you pertinent questions to find out what you want.
Are you looking for new construction homes or a property to flip? What's your budget? What area are you looking at?
They should be willing to set up as many viewings as possible to give you options. Get away from any agent who pressures you into buying properties you're not interested in.
Due Diligence
Agents are only human, but even a small mistake can cause a major holdup in a transaction. Checking and rechecking all real estate documents helps avoid them. One of the most important is the title.
A marketable title shows that there's been a proper title search to prove who the owner is. An attorney can help get it verified, and title insurance helps protect ownership.
Skipping this step can halt a transaction in its tracks. It can void a seller's right to sell, prevent you from getting a mortgage or home insurance, or put you in claims court.
Transparent Communication
1 in 5 buyers list honesty and trustworthiness as the most important factor when choosing an agent. They shouldn't hide anything from you, and you need to communicate what you want from them. This helps both sides have reasonable expectations.
This transparency should continue throughout the process. The agent should keep you up-to-date on all relevant property transaction details while it goes on and follow up when it's completed.
Where to Find an Agent
An experienced real estate agent makes every transaction easier. They can help you find the right properties, including new construction homes and run-down properties to flip.
They'll handle scheduling and legal issues while hiring other professionals. They also communicate transparently until the transaction is complete.
Reach out to PMI Destin 301-A for help with your real estate transactions today.
