Real estate agents assist both buyers and sellers with various tasks related to real estate. They can assess a home’s value, set an affordable price that increases likelihood of sale, and screen out offers that don’t meet expectations.
Before hiring an agent, always perform due diligence by visiting your state’s licensing website and making sure their license is active without any disciplinary actions taken against them.
1. They have access to the MLS
MLS stands for Multiple Listing Service and serves as a database listing all available real estate in your region. Real estate agents use it as the go-to resource when helping their clients buy and sell homes.
Zillow may offer public real estate listings, but MLS can only be accessed by licensed professionals who pay annual fees and members of real estate boards and associations who must undergo background checks, licensing requirements and ongoing education requirements to access it. Gaining entry without being licensed requires traversing numerous hurdles which may prove both time-consuming and challenging.
Not only can the Multiple Listing Service allow agents to search property records, it also enables them to make customized searches and generate reports – giving them an edge over third-party websites which rely solely on listing data, which often causes delays and provides incomplete market insight.
Real estate agents possess intimate knowledge of the neighborhoods they serve, which makes their expertise invaluable when making large financial decisions. Agents may be able to provide insights such as average home prices, crime rates and potential developments such as commercial properties.
Although it’s possible to access the Multiple Listing Service without a license, working with an agent is usually easier. They will help find properties for you that meet your criteria while negotiating with sellers and handling all paperwork – most buyer’s agents are paid directly by sellers, eliminating out of pocket costs!
2. They can help you set a competitive price
Real estate agents can be invaluable allies when buying and selling homes for the first time, whether that means setting an attractive pricing strategy and helping negotiate offers from potential buyers. Furthermore, agents understand the market better than anyone else, providing invaluable advice tailored specifically to your situation.
As agents have access to the Multiple Listing Service database – an online directory of property listings – this makes your search much more efficient and helps find you your dream home quickly and effectively. Furthermore, agents have access to comparable properties in the area so they can identify if any house is overpriced; additionally they will recommend lenders and inspectors if needed.
Hearing feedback from potential buyers can be challenging when your home holds such a special meaning for you, but with an experienced real estate agent by your side it becomes much easier. They will keep an open mind while accepting criticism without becoming emotionally attached, helping to understand why buyers may have objections against certain features of your house.
Working with a real estate agent can greatly speed up the home-finding process by matching you up with homes that best suit your needs. They can also assist in deciphering confusing paperwork filled with legal jargon that you might not understand and provide seller disclosure documents which they must give to buyers. They will handle negotiations between parties as well as all paperwork so you can focus on moving and getting settled into your new place without worry or stress.
3. They can help you negotiate
Real estate agents are experts at negotiating, and know exactly how to get you the best possible deal. They’re there for both buyers and sellers and can work through any problems during the transaction – for instance if you’re buying a co-op or condo quickly with minimal stress, as well as negotiate any necessary repairs or upgrades necessary for your new home.
They can help you understand complex paperwork filled with unfamiliar jargon and terms that you may not fully comprehend, which is particularly helpful when buying property that requires disclosures from sellers. They can also assist in determining your eligibility for mortgage loans as well as preapprove loans on your behalf.
Another key consideration when choosing an agent is their track record. Get references from previous clients, and read online reviews – both will give an idea of their working style, and allow you to make an informed decision on whether they’re the right match for you. In addition, be sure that the agent is licensed in your state – most states take four to six months for licensing processes to become complete – this shows they possess all of the skills and knowledge required by practicing agents as well as protecting you from fraud and other legal issues that might arise in practice areas outside yours.
4. They can help you find a lender
Real estate agents tend to be well-connected within their communities and have access to a network of mortgage brokers that can help find you the ideal lender and get preapproved, while referring you to professional home inspectors and home inspection companies for an easier purchase experience.
An agent’s expertise lies in knowing about local property values and school districts; using this knowledge they can assist you with deciding if a particular neighborhood suits your lifestyle and calculating an accurate home price estimate. An excellent agent is invaluable for saving both time and money during this process.
When searching for a real estate agent, make sure that they can provide testimonials or references from past clients as a sign they don’t possess the experience claimed. Also ask about their education and training; additionally check to make sure they’re licensed in your state of operation.
Real estate agents don’t always exclusively represent your interests as fiduciaries of both sellers and buyers, which makes obtaining a written agreement between yourself and an agency essential. The National Association of Realtors offers a disclosure form that you can use to document this relationship; you can get one from your agent or download it directly from NMLS Consumer Access website.
5. They can help you with the paperwork
Paperwork associated with buying or selling a home can be complex. Real estate agents understand this process well and can assist in making it as seamless as possible, by making sure all the required paperwork is filled out on time and correctly, while helping explain any unfamiliar terms or conditions contained within said paperwork.
Real estate agents often create their own paperwork to guide clients through transactions, with the intention of protecting their interests during any real estate deal. This could include provisions that limit liability or stipulate conditions upon the sale of property; disclosure requirements under state or local laws or any documents needed during an exchange may also be included as necessary.
Real estate agents play an essential role in helping their clients understand the terms and conditions of a sale contract, which outlines its terms as well as payment obligations for both parties and includes an option to terminate in certain instances.
Real estate agents also assist their clients with other forms of paperwork, including letters of introduction used to verify the identity of potential buyers and helping assemble all necessary documents needed for mortgage applications, including pay stubs, tax information and bank statements.
Agents offer buyers invaluable services, from creating comparative market analyses of local homes that have sold, to finding short- or long-term housing options if their new house is under construction.