Buying or selling a property is a complex, and often overwhelming process. This is why many people engage the services of real estate agents for guidance and expertise. While some may think paying the fees for an agent is an unnecessary expense, there are a multitude of benefits to working with a professional. In this blog, we’ll explore why working with an agent can provide you with more than just monetary success on the transaction side; agents have a fiduciary duty to you that comes with several benefits. Continue reading to learn the top 5 benefits of working with a real estate agent.
- Confidence & Peace of Mind
One of the biggest advantages of working with a real estate agent is the added security and peace of mind that comes with having an experienced professional in your corner. Real estate transactions involve a lot of legal paperwork, negotiation, and potential pitfalls that can lead to costly mistakes if not spotted and handled properly. An agent is there to help you navigate these complexities, and ensure all necessary steps are executed to protect your interests and investment.
Real estate agents read strata documents, obtain building history and records from City Hall, consult with lawyers and notaries, confer with their managing brokers, among many other things in order to provide you with the safest and best advice possible. These resources are not always available in the context of for sale by owner situations, or if you decide to represent yourself as a buyer in a transaction and aren’t aware of these crucial steps.
- Resources & Connections
Real estate agents also have market knowledge and connections that come in handy when buying or selling. Many agents have a network of professionals and resources that can be invaluable throughout the home buying and selling process. These relationships often consist of mortgage brokers, home inspectors, appraisers, lawyers, various trades, other local real estate agents, and more. Agents also have an abundance of marketing resources and strategies that they engage to help sell a property quickly, and for the best possible price in the current market conditions. They tend to have long client lists with strong relationships, and know many agents with clients that are looking for a property just like yours.
- Fiduciary Duty
All real estate agents have moral and legal obligations to fulfill in regard to their clients, otherwise known as fiduciary duties. This means that agents are legally required to act in their client’s best interest, and to maintain a high level of confidentiality throughout the transaction. This duty extends to all aspects of the transaction, including pricing, negotiation, disclosures, and any other information that may impact the client’s decision to buy or sell a property. This high level of professionalism and ethical responsibility ensures that agents are always acting in your best interests, and absolutely no unnecessary and/or personal information is being provided to any third party. This is one of the most important benefits of working with a real estate agent – confidentiality.
- Time-Saving
Preparing a property for sale, and searching for a property to buy are two incredibly time-consuming tasks that are full-time jobs in themselves. Realtors arrange appointments, inspections, tours, and communicate with all third parties on your behalf. They also draw up all documentation and go over it with you in detail so you’re fully informed and protected throughout every step of the process. This gives you free time to get your personal affairs in order, pack, and handle all other necessary tasks while not having to worry about all the other details.
- Access to Listings
Realtors have a wide range of contacts, and therefore have access to information that isn’t always available to the public. This could mean off market or exclusive properties that aren’t on the MLS, upcoming listings in your area, and more. This will help you in your home search, as you aren’t sifting through and competing for the same properties as everyone else.
If you’re looking to buy or sell and don’t know where to begin, please contact us here.