Whether you are purchasing a new home or selling the one you own, it is very important that you always use a broker for these transactions. Having an expert in these matters will help you avoid basic mistakes that may cost you thousands of dollars. When it comes to buying or selling a home, the broker is invaluable for negotiations, using the right documents, and having everyone work together to make the transaction go smoothly.
Here are a few tips as to why a broker should be part of the buying or selling process when it comes to real estate.
Perhaps the biggest advantage a broker has is the knowledge of the local real estate market. Most agents study the market and know current inventory levels and trends. Even if an agent is does not work a particular area, they can still get detailed information for that local market with detailed data. Most importantly, an agent will help you understand a good deal from a not so good one whether you are buying or selling.
The MLS is the means by which new properties that are put on sale are listed. The MLS alerts other real estate agents of all properties that are now on sale which means for a home buyer new opportunities come faster. Access to the MLS offers more opportunities to find your dream home and for sellers a way to market your property to a much broader audience. The MLS is also great for pin pointing the home of your dreams with very specific features. For example, if you are looking for a 3000 square foot home with a first floor master bedroom, you can have your broker set a search for homes that meet those criteria.
Showing your home to buyers is crucial to selling your home. However, it is important to only show your home to pre-qualified buyers. You do not want to waste your time showing your home to people that should not even be there and are a potential safety concern for you and your family. As a homeowner, this can be difficult to do the coordination on your own and to pre-screen pre-qualified buyers. A broker can help considerably by taking the calls, pre-qualifying buyers, and making out the schedule that works for all parties.
It can be difficult to negotiate on your own against real estate agents and attorneys who have done this for years. When you consider the importance of the negotiating process, having an expert do the work is crucial. A real estate broker has a fiduciary obligation to protect your best interest and negotiate the best deal for you.
The listed price of your home can make or break a potential sale. This is because if the list price is too high, it can turn away buyers who might offer a good price. A broker can use their expertise along with proper research to see what similar homes in the area sold for and determine what price is low enough to attract buyers, yet high enough to earn the most for your property.
Remember to always use a broker when involved in buying or selling a home. Their knowledge, expertise, and ability to take care of the little, but important details can make all the difference.
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