Real estate transactions involve one
of the biggest financial investments most people experience in their lifetime.
Transactions today usually exceed $100,000. If you had a $100,000 income tax
problem, would you attempt to deal with it without the help of a CPA? If you
had a $100,000 legal question, would you deal with it without the help of an
attorney? Considering the small upside cost and the large downside risk, it
would be crazy to consider a deal in real estate without the professional
assistance of a real estate agent, especially one that knows South Florida like no
other.
But if you're still not convinced of
the value of a real estate agent, here are some more reasons to use one.
If you are buying a home, a Real
Estate Agent:
1.
Can help you determine your buying power
-- That is, your financial reserves
plus your borrowing capacity. If you give your real estate agent some basic
information about your available savings, income and current debt, he or she
can refer you to lenders best qualified to help you. Most lenders -- banks and
mortgage companies -- offer limited choices.
2.
Has many resources to assist you in your home search
Sometimes the property you are
seeking is available but not actively advertised in the market, and it will
take some investigation by your agent to find all available properties.
3.
Can assist you in the selection process by providing objective information
about each property
Real estate agents have access to a
variety of informational resources. We can provide local community information
on utilities, zoning. Schools, etc. There are two things you'll want to know.
First, will the property provide the environment I want for a home or
investment? Second, will the property have resale value when I am ready to
sell?
4.
Can help you negotiate
There are myriad negotiating
factors, including but not limited to price, financing, terms, date of
possession and often the inclusion or exclusion of repairs and furnishings or
equipment. The purchase agreement should provide a period of time for you to
complete appropriate inspections and investigations of the property before you
are bound to complete the purchase. Your agent can advise you as to which
investigations and inspections are recommended or required.
5.
Provides due diligence during the evaluation of the property
Depending on the area and property,
this could include inspections for termites, dry rot, asbestos, faulty
structure, roof condition, septic tank and well tests, just to name a few. Your
agent can assist you in finding qualified responsible professionals to do most
of these investigations and provide you with written reports. You will also
want to see a preliminary report on the title of the property. Title indicates
ownership of property and can be mired in confusing status of past owners or
rights of access. The title to most properties will have some limitations; for
example, easements (access rights) for utilities. Your agent, title company or
attorney can help you resolve issues that might cause problems at a later date.
6.
Can help close the purchase of your new home
Between the initial purchase
agreement and closing (or settlement), questions or issues may arise. Your
agent is the best person to objectively help you resolve these issues and move
the transaction to closing (or settlement).
For more information on buying a
home, view our buyer's guide by clicking here.
If you are selling your home, a Real
Estate Agent:
1.
Can give you up-to-date market information
Your agent can provide market
information and the price, financing, terms and condition of competing
properties. These are key factors in getting your property sold at the best
price, quickly and with minimum hassle.
2.
Markets your property to other real estate agents and the public
Often, your agent can recommend
repairs or cosmetic work that will significantly enhance the marketability of
your property. Your agent markets your property to other real estate agents and
the public. In most markets, over 50% of real estate sales are cooperative
sales; that is, a real estate agent other than yours brings in the buyer. Your
agent acts as the marketing coordinator, disbursing information about your
property to other real estate agents through a Multiple Listing Service or
other cooperative marketing networks, holding open houses and tours for other
agents, etc.
3.
Knows when, where and how to advertise your property
There is a misconception that
advertising sells real estate. The National Association of Realtor's studies
show that 82% of real estate sales are from sources other than advertising like
personal referrals, company reputation, and yard signs. Your agent will have
access to these sources and more. Also, when a property is marketed with the
help of your agent, you do not have to allow strangers into your home. Your
agent will generally prescreen and accompany qualified prospects through your
property.
4.
Can help you objectively evaluate every buyer's proposal without compromising
your marketing position
This initial agreement is only the
beginning of a process of appraisals, inspections and financing -- a lot of
possible pitfalls. Your agent can help you write a legally binding, win-win
agreement that will be more likely to make it through the process.
5.
Can help close the sale of your home
Between the initial sales agreement
and closing (or settlement), questions may arise. For example, unexpected repairs
are required to obtain financing or a cloud in the title is discovered. The
required paperwork alone is overwhelming for most sellers. Your agent is the
best person to objectively help you resolve these issues and move the
transaction to closing (or settlement).
If you'd like to see our selling
guide, click here.
If
you are buying, selling or renting I am a professional with the experience and
dedication that will help you to reach your objectives.