Sometimes, first time property buyers wonder whether to use the services of Real Estate Agents when buying a new home. This might be because of a number of reasons such as lack of trust, lack of understanding of the nature of the work Real Estate Agents do, unwillingness to pay brokerage fees, the existence of self help websites where people can easily find properties to buy and many more reasons. 

Buying a house is one of the biggest and most important purchases of your life, and there’s so much money at stake. Having a pro working on your behalf gives you the benefit of their knowledge, skills and expertise — without one, you risk making mistakes that could cost you money, time, headaches or worse. 

Handling everything on your own puts you at a huge risk, unless you have the experience in acquiring homes and you trust your Real Estate knowledge. 

Real Estate Agents are always at the forefront of property transactions, doing due diligence, negotiating and closing deals day in and day out, so you can feel confident in their ability to look out for your best interests. 

Here are 5 reasons why you should work with a Professional Real Estate Agent 

1. Real Estate Agents give you better market access. 

Agents have access to several listings in the market. With this they can help you identify properties that meet your specific criteria, sieve off properties that don’t match your needs or filter off properties that are listed on public sites but are not available.  Agents will help you cross the hurdle of booking/arranging for viewings with the landlords, who most at times may be difficult to deal with. This saves you time. 

Without an agent you may not know about other better options that exist for your budget and you may end up choosing from just a limited number of options.  Not every property that is listed on the market might be suitable for you. Without an agent you will go through the pain of doing property tours only to find out the property doesn’t exist, has been sold or off the market, or lacks certain features you need. You may end up viewing so many properties, driving here and there, become stressed and still end up not finding any suitable property. 

2. Contracts and paperwork can be hard to handle on your own. 

Buying a home involves a lot of documentation, contracts and paperwork. A professional real estate agent knows how to include certain terms and conditions in the contracts to protect you from losses. They will handle all the legal and financial documentation on your behalf, helping you avoid costly mistakes and delay. For example you will need to draft an offer letter for the landlord, navigate through the search at lands commission, handle sales and purchase agreement, lease renewal, change of ownership and so forth. You may need to review the covenants in these contracts with a detailed eye, else missing out and signing to terms you don’t understand may cost you so much in the near future. 

3. Due diligence:

This is the process of verifying the authenticity and true ownership of the property in question. Some people may pose as the owners of the property and defraud unsuspecting buyers of their hard earned money. Due diligence helps to uncover fraudulent people, potential issues, hidden concerns, the legal or financial risks associated with the property and mitigate these risks

For example, a property might be under litigation in court, family conflict, or might have been used as collateral. There can be mismatched names on documents, the lease might have been almost used up. Some properties may have even been built in waterways, unsafe neighborhoods, roadways or places which might turn out to be inconvenient in the future. 

By working with experienced agents like Kenice Homes, potential buyers will avoid all these pitfalls. 

4. Negotiation Power

Purchasing a home is filled with negotiations. From the initial offer to final price settlement, professional Real Estate Agents will be your advocates in the complex dance of price negotiations. They will ensure your interests are best represented and negotiate on your behalf to secure the best deal. 

Professional Real Estate Agents have a better understanding of market trends, dynamics and industry pricing which you will benefit from. With this, Real Estate Agents will protect you from buying overpriced properties by reviewing sales of comparable properties in the same area using factors such as property condition, location, size, amenities, improvements and repair works needed etc. 

Also professional Real Estate Agents know how to tactfully manage the negotiation conversation to ensure the deal doesn’t fall apart

Offer Guidance and Support

Real Estate Agents will be at your side and keep you focused on your objectives, most especially when emotions set in. They will guide you with an unbiased eye and ensure the property meets your goals. They will lead the transaction so that nothing goes bad. 

Bottom Line

There are a lot of moving parts that go into buying a home, from finding suitable properties to navigating your way through due diligence, negotiations, complex paperwork, making payment and transfer of ownership, etc. it can really pay to have a professional on your side. 

Buyers who choose to do it alone may save some money but there are serious risks and downsides to consider.