A recent trend I am seeing as a Realtor in Frederick, MD is that consumers are attempting to represent themselves in the Real Estate transaction instead of hiring a Realtor. At first glance, it looks great on paper; save money and maybe even gain the upper hand in negotiations. However, a good Realtor is always worth their commission and their weight in gold.
Read the five reasons why should hire a Realtor in your next Real Estate transaction.
- Errors and Omissions Insurance
When either party submits or accepts a contract, it is possible that a mistake could be made. It is for this very reason why Realtors have Errors and Omissions Insurance as a protection against mistakes made during the Real Estate transaction. For example, did you know that as the seller, you are required to disclose if you have made any renovations to your home as well as if the appropriate permits were pulled for that renovation?
- Real Time and Accurate Real Estate Tools
A Realtor has access to the most up-to-date database of home sales. The Multiple Listing Service (MLS) is one of the many tools Realtors have at their disposal that allows access to recent home sales data to generate local reports. Also, it is a database of all of the homes currently for sale and rent on the market. There are a lot of online property search tools available to the consumer but none are as comprehensive as the MLS.
- Experienced and Existing Network Team
A good Realtor will have an experienced network that they trust to get the job done. This team is carefully selected and can include a title company, a lender or loan officer, and a bank that are ready to work for their client at a moment’s notice. Always ask your Realtor and lender for available options and grants because you never know what programs could benefit you.
- Negotiation Experience
The art of negotiation is a tool that allows the Realtor to get the most out of the transaction for you, their client. The Realtor has a fiduciary duty to you and will use all of the options available because they care about the deal and want the transaction to close.
- Contract knowledge
Disclosures, permits, legal forms, and other legal issues are just a few of the items that make a Real Estate contract, a contract. A Real Estate Agent has access to a host of resources that assist in completing the contract correctly and there typically is one person at their brokerage firm that is always making sure the contract is complete and legally compliant. A contract is void if it is incomplete or filled out incorrectly. If you are bidding on a property and there are multiple offers at the same time, a complete and solid contract could make the difference and be the tie breaker between your offer and the others. Please see my other blogs at www.PeterMurrayRealty.com for other stories.
A good Realtor is always worth their commission. Please take the time when beginning the home buying process to carefully select a qualified and competent Realtor that is dedicated to your success. For some buyers with first-hand residential experience, buying or selling a home on your own might make sense. If you don’t have that level of experience, finding a good Realtor can be the difference between the home of your dreams and a deal that falls through.