What Do Real Estate Agents Do? (And Why You Probably Need One)
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Between for sale by owner properties and websites and apps that claim to sell your house within a few days, some people may wonder why they need to hire real estate professionals. What does a Realtor® do that a homeowner couldn’t do themselves or that technology can’t automate? You may not notice the work your real estate agent does for you because so much of it is done at their office. You don’t see them working in front of you so you don’t know how much time they spend on your account. This article will answer the question, “What do real estate agents do?” It will shine a light on the benefits of working with a Realtor® and show what agents do to make it easier for people to buy and sell properties.
What Do Real Estate Agents Do?
#1) Prepare Houses for the Market
When you first hire a real estate agent, they will work closely to create a plan to list your house. These professionals know what sells and will encourage you to improve your curb appeal, set up home staging, and consider home upgrades that have high returns on investment. A few small changes can make your home significantly more sellable. This will move it off the market faster and make it fetch a higher price. Speaking of price, your Realtor® will also work to determine the listing price depending on the market and will make suggestions for lowering or adjusting the listing depending on other homes in the neighborhood. This insight is invaluable.
#2) Work with Buyers to Find Ideal Homes
Realtors® also work on the buying side of the home process. Many real estate professionals give up their evenings and weekends to show homes and bring customers to see potential properties. These properties aren’t always easy to find. In competitive markets, some homes can go on and off the market in a matter of days. Real estate agents are constantly networking and searching to see if any properties are about to be listed that might work for their customers.
#3) Answer Questions About the Market and Region
Real estate agents are often the first people that buyers encounter when they move to a new region. Buyers rely on real estate agents to tell them where the best schools are, where popular nightlife is, and which neighborhoods are ideal for different demographics. Realtors® need to stay on top of market trends and know the nuances of the cities they live in if they are going to provide value to clients. They also need to keep a finger on the pulse of the real estate market to understand whether homes are selling fast and how competitive their clients need to be. Real estate isn’t an industry that you can sleep on. Markets are highly sensitive, and homes within a city can change their value within a few months. If a Realtor® isn’t knowledgeable about these changes, they could potentially lose thousands of dollars for their customers. Recommended Reading: How to Find the Best Performing Realtors® in Any City
#4) Handle Negotiations
When a buyer is ready to make an offer, they will work closely with the Realtor® to negotiate a home price. Oftentimes, two Realtors® work together as liaisons between a buyer and seller to determine a fair selling price on the home. A buyer might want to make a low offer, but their Realtor® will suggest a more reasonable price that is more likely to get accepted. On the other side of the deal, the seller’s Realtor® will encourage the seller to be more flexible or suggest a counteroffer to make the buyer increase their bid. Negotiation is a difficult skill that takes years to hone. In real estate, negotiation skills must be paired with knowledge of the home and market to see which party has the upper-hand. While it is possible to negotiate a home price on your own, having this expertise can make your efforts easier and more effective.
#5) Draft Offers and Manage Closing Paperwork
The paperwork that goes into buying and selling a house is incredibly specialized and time-consuming. This is one of the most important resources that Realtors® provide. Real estate professionals are experienced in working with mortgage companies, home inspectors, and insurance providers in order to make a sale go through. They will work to present the paperwork in a clear and organized manner for buyers and sellers. Recommended Reading: What Happens at Closing? What Buyers and Sellers Can Expect
Find a Real Estate Professional Who Works for You
You may not understand the work that real estate agents are expected to do if you worked with someone in the past who did not meet your needs. While a Realtor® may have a high rating on Google, it doesn’t mean that they are a good fit for your budget or home style. Find a real estate agent who works for you and dedicates the time you need to buy or sell your home. Use EffectiveAgents.com to find top agents in your area who get the most for their customers. Try our system and see if you think of Realtors® differently afterward. Photo credit: michael-browning-akz0w36DpM4-unsplash
