Why Choose a Realtor to Represent You

By: Soni Chachad

Why Choose a Realtor to Represent You

Tags: why have a realtor, buying with realtor, selling with realtor, benefits of having a realtor

Thinking about selling or buying a new home is a significant life decision that comes with many considerations. For some, they think skipping out on hiring a professional realtor will save them money and that they can do it on their own. However, bringing a realtor on to help sell your house or find your next home can actually save you time and money, and you will also benefit from their specialized knowledge, network of contacts, and marketing skills. A realtor is there to help you make informed decisions by providing you with invaluable information and opportunities that you might not have had access to otherwise. Furthermore, they are your expert negotiator, are familiar with market trends and activities, and have a fiduciary responsibility to keep your information private. Overall, hiring an experienced and professional realtor that can help you navigate the legalities of the real estate market is essential when finding the perfect property or selling the one you already own.

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Safeguard Your Time and Money?
Many people think that by cutting out a realtor, they will be saving themselves some money. However, there are a few factors to consider before making this decision. For example, for sale by owner (FSBO) homes typically sell for about
30% less than agent-listed properties. If a homeowner can increase their sale by 30% by hiring an agent, that alone would be enough to cover any required commissions. Furthermore, if your buyer has hired a realtor, you will be expected to cover their realtor's commission anyway. 

FSBO properties often get less attention than agent-listed properties, and this is for a few different reasons. For one, realty is a full-time job, and therefore, it is challenging for many people to have enough time to properly list, show, and sell a home on top of their everyday duties. Hiring a realtor means they can not only spend the necessary time making your property attractive to potential buyers, but they can also help you locate these potential buyers. Sometimes, realtors will not want to work with FSBO properties and opt to strike up deals where a professional realtor represents the party. 

One last thing to consider is that as a buyer, you do not pay your realtor's commission; the seller does once the deal is finalized. So, as a buyer, it makes sense to hire a realtor so you can gain access to their knowledge and expertise.
 

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Gain Access to their Specialized Knowledge 
Another reason to choose a realtor to represent you is that they have the expertise and specialized knowledge to help you throughout the process, whether you are a buyer or seller. For example, the amount of legal documentation required in the home buying or selling process can often be dozens of pages of jargon-heavy content. Any mistakes or omissions in these legal documents can cost you as much or more than the amount you were trying to avoid paying by not hiring a realtor. Furthermore, realtors can help you price your home correctly based on the current market and assist with information filtering. Hopefully, once your property is listed or you decide you are ready to look seriously into getting a new place, many options and opportunities are available. A real estate agent will filter all the phone calls and only present you with offers or properties that have potential. Essentially, the real estate agent acts as a buffer and can help you make the best possible decisions for your situation.

Help Make Informed Decisions 

Your realtor will not only be able to provide you with their legal expertise and knowledge, but they will also have inside knowledge on the market trends and activities in their area. This could mean they can advise on the best time to buy or have other information not readily available to the public. Moreover, an experienced realtor will be familiar with various neighbourhoods and be able to feature all the positive aspects while relaying any potential negatives to their clients so they can make informed decisions. 

Another thing that realtors are excellent at helping with is noticing the minor issues that could become larger problems over time. Oftentimes, clients might not notice these details upon an initial walk-through, but a realtor is there to help point out things like furnace issues, leaky roofs, or unstable foundations. Besides knowing what to look for, hiring a realtor can help you gain further knowledge not readily available and make the best possible decision overall. 

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Utilize their Expertise in Negotiation, Networking, and Marketing
Part of making informed buying decisions and negotiating terms effectively is eliminating emotional decision-making. Since a realtor is an objective party, they can see past the emotional elements of such a large decision and advise you on the best path. By hiring a realtor, you will also gain access to their advanced negotiation skills as well as their marketing capabilities and network of contacts. 

Many experienced realtors will have a Rolodex of connections in the industry, and this can help you sell your property faster and for more money. Of course, on the flip side, a realtor can use these connections to find more potential options for a buyer as well. One of the most significant things that a realtor can offer over an FSBO seller is this network of contacts and marketing skills. Realtors have access to specific and professional platforms that many people reference or look to for information or new listings in their area. Although those who sell their homes privately have access to some of these platforms, an experienced realtor has many more platforms at their disposal, and they make it their job to market your home effectively while also maintaining your privacy.

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Confidentiality and Fiduciary Responsibility

Confidentiality and Fiduciary Responsibility
Realtors have a fiduciary duty to their clients, which means they must always act in the best interests of the party as well as maintain the privacy and confidentiality of their clients. As mentioned above, sometimes a realtor won’t want to work with an FSBO seller, and this is because they are under no legal obligation to keep the contract information confidential. The same goes for turning information over to the seller's agent; they don’t have a fiduciary responsibility to you, only to their seller. Therefore, hiring a realtor means they can advise you on whether the information being requested is reasonable or not. And, if the information is found not to be reasonable, your realtor is there to help you with recourse and problem-solving. 

Conclusion 
All in all, hiring a realtor can help you save time and money in the long run since the process is streamlined by a professional whose entire job is dedicated to either effectively listing, marketing, and selling your home or finding you the perfect new space. Working with a realtor means you gain access to their expertise and specialized knowledge, and they help you complete some of the more tedious aspects of home buying and selling more efficiently, like filtering phone calls and completing paperwork properly. Furthermore, a realtor’s inside knowledge is invaluable for clients, so they can know what to look for, take advantage of market trends, and get the scoop on potential neighbourhoods they are looking at. Lastly, some of the largest advantages that going with an agent has over listing as an FSBO seller is that other realtors will be more willing to work with another realtor, your realtor will have a network of contacts, and they also have a responsibility to keep all of your information confidential. Overall, hiring a realtor is an excellent option for those looking to buy or sell their home in the most cost-effective and efficient way possible.