Your real estate agent can help make the process of buying or selling your home easier and less stressful. A good agent will know many of the houses that are on the market at a given time. Your agent can help you navigate the complex disclosure laws, minimizing your chance of a lawsuit. Since the home seller pays the commission, the buyer gets these services for free.
For Buyers
Most home buyers search for a home on the Internet, looking at location, beds and baths, square footage, and price. But those listings are designed to sell the home, so they may not tell the whole story. Online photos may focus on the updated kitchen, but they won’t tell you if the retrofit was done without permits. Does the house have a tiny lot with no yard? Photos may show a creek but not mention the extra maintenance. Perhaps this lovely house is behind a school, near an industrial area, or too far from shopping or transit to suit your needs.
You need to see a house to really know what it’s like – and good agents preview properties before they show them to their clients. A visit may reveal obvious problems, like roof leaks or small, dark rooms. The agent learns about expensive pest or foundation issues from the listing agent or the disclosure documents. Houses that are way below the average price in their neighborhood may have big problems that would be costly to repair.
A buyer’s agent can help you determine what to offer on the house you choose. A house on the market a long time may be available for less than asking price. But an offer that is way too low may be considered insulting, and is a waste of everyone’s time.
For Sellers
Some sellers decide to save the commission by selling their home themselves. This can be an expensive, stressful, time-consuming mistake. You need to advertise the home, hold open houses, negotiate with buyers, and do the paperwork. Buyers know you’re avoiding the commission, so they’ll demand a lower price. Homes sold directly by owners sold for an average of 13% below homes sold by agents. You also expose yourself to more risk, as you need to provide mandatory disclosures and comply with fair housing laws.
Most buyers are found through other Realtors®. When we list a house on the Multiple Listing Service, thousands of other agents find it when they search. We hold broker’s tours that are attended by dozens, sometimes hundreds, of other agents. And agents can visit vacant properties on their own to see if it matches the needs of their clients. Properties get the most attention when they’re just listed – so it’s essential to get the price right. Agents use comparable market analysis to determine the best price for your house on a given date.
When you sell your home, you must provide a wide range of disclosures. Your agent may also suggest painting, landscaping, staging, or inexpensive improvements that will help your home sell. Buying a house is an emotional experience, and you’ll get the best price if the buyer feels the house is ready to move in.
