“Are you using a Realtor?”
If you’re in the market to either buy or sell a home, you’ve undoubtedly heard this question from at least one person. Deciding whether to use a real estate agent is a big decision. Do you need one? Is it worth the money? What are the advantages? What do Realtors even do?
To help you decide whether to use a Realtor, it’s important to understand how they work and what their responsibilities are. Here’s some insight into what Realtors do for their buyer and seller clients.
They Educate Their Clients
An important part of being a Realtor is to understand what sells, and how and when it sells best.
- For buyers: Learning about real estate, neighborhoods, pricing, the mortgage process, and the many other aspects of buying a home are especially challenging for first-time homebuyers. A Knoxville Realtor, or those in other areas, can explain the finer points of shopping for a home. Guidance like this can keep buyers from wasting time and missing opportunities.
How much should you spend for a home? What amenities can you get within your budget? Are you looking in safe neighborhoods? Even seasoned homebuyers benefit from the experience and knowledge of a Realtor.
- For sellers: Realtors impart valuable advice to home sellers. For example, if a seller prices their home even a few thousand dollars too high, it may be overlooked for months. A savvy real estate agent can counsel sellers on how to price their homes to move. In addition, Realtors can point out small fixes and updates on the home that will help attract more buyers and snag more money.
They Do Legwork
Realtors spend a significant amount of time behind the scenes to help their clients.
- For buyers: Researching the inventory available in their preferred neighborhoods, looking up recent sales, and staying abreast of the new homes that come on the market are all on a good Realtor’s “to do” list. They must keep every buyer’s budget and wish list of amenities in mind as they search for the perfect house.
Agents are also responsible for setting up appointments for buyers to see homes. They may schedule several showings a day.
- For sellers: In addition to figuring out how to price a home for their seller clients, Realtors also find and schedule a photographer to capture great photos that show the home’s true appeal. In addition, they advertise the home, network with other Realtors to increase showings, and schedule open houses.
When all their legwork pays off and there’s an offer on the table, a Realtor’s work is far from over.
They Assist with Negotiations
Buyers and sellers coming to terms on a deal can be the most stressful and challenging part of the home buying and selling process.
- For buyers: Making an offer that’s competitive and fair is the best way to close the deal. Realtors use their experience with the location and the current market to advise buyers on an offer that’s appealing. Money is only a part of the offer. Buyers may have to add contingencies, such as selling their current home first, or requesting that certain repairs be completed before closing. Realtors keep buyers from going overboard asking for too many concessions, while still not leaving too much money on the table.
- For sellers: Deciding which offer to take can be a difficult one for sellers. Plus, it’s hard to not get emotionally involved in selling their current home. A helpful Realtor can keep sellers focused on the prize: the best overall payout. He or she can lay out each offer, objectively weigh each one’s pros and cons, and recommend the best choice.
Once a deal is reached…
They Handle the Tedious Stuff
There are hours’ worth of minutia involved in buying and selling a home.
- For buyers: Wading through the mortgage process is intimidating. A Realtor can recommend a reputable mortgage lender. Scheduling the home inspector, negotiating needed repairs or safety concerns, answering last-minute questions, and making certain the closing is moving forward are just a few of the tasks Realtors handle for their buyers.
- For sellers: Realtors handle the closing details and negotiate on any issues with the buyers found in the home inspection. They also stay in touch with the mortgage lender to address any issues with the appraisal, title work, or any other obstacle that could affect closing on time.
Realtors do a plethora of important tasks for their clients. Whether you’re buying or selling a home, it pays to take some time and find a Realtor you trust. You’ll save time, feel more informed about the process, and feel more assured that you’ve gotten the best outcome.
At The Real Estate Firm, our agents are experienced in assisting both buyers and sellers, and will ensure you have a remarkable real estate experience. Call 865-770-4030 or fill out our online form to schedule a free, no-obligation consultation.