Are you planning to acquire or sell your home, but unsure whether it would be better to hire a broker or just do things on your own? The following information will help you decide what’s best by giving you reasons to hire and not to hire a real estate broker.
Reasons why you should hire a real estate broker
Efficiency. If you want an easier and faster way to buy or sell a property, then hiring a real estate broker is a good option. As long as you find a reliable agent, your transaction would be more efficient. If you are looking for a new home, your broker has access to property listings that will help you find prospective homes that meet your needs faster than looking for properties yourself. On the other hand, if you are a seller, it would be faster for you to find a buyer. It would also be more convenient for you as your broker can entertain queries about your property just as when you are busy working or going out-of-town.
Better information about neighborhood. As a buyer, it is important to learn as much information as you can about the environment of different properties to help you make the best decision. Hiring a real estate agent would make it easier for you to compare properties by providing you with information like nearby schools, hospitals, and churches, as well as demographics and crime rates.
Information on market conditions. If you are a seller, you will have information on how much your home would sell based on current market prices around the area. If you are a buyer, on the other hand, you will have an idea of the sales prices of current properties in different areas. You will also learn which properties would probably make good investments.
Assistance with after-closing concerns. Even after all the buy or sell process has been completed, your broker can help you with problems that would just come up in the future, such as those pertaining to taxes.
Reasons why you don’t need a real estate agent
Note that a real estate agent is different from a real estate broker.
Online multiple listing services (MLS) can help you buy or sell a home easily. If the biggest reason why you are hiring a real estate broker is that you have better chances of selling a property earlier or you have better chances of finding your dream home faster, you might need to think again. By listing your property in a multiple listing service (MLS), you can easily advertise your property to many prospective buyers. You can also check the same website if you wish to look for a property.
The Internet can provide real estate information. Real estate agents can provide you with good information on buying or selling a property, but today, you only need to browse the Internet for any real estate information and advise you need. You can get information from different websites on how you can buy or sell a property in your locality, as well as different market information on real estate.
A real estate agent does not do all the paid job you need. Before hiring a real estate broker, you also need to remember that he or she cannot do all the paid jobs you need in buying or selling a house, such as that of an appraiser and the lawyer. The agent can only help you find a good one, but can’t spare you from hiring an appraiser and a lawyer. However, there are cases wherein some agencies require for a specialized real estate broker who specializes in just compensation cases in relation to expropriation. These brokers at this instance are appointed as commissioners.
You can do the job of a broker. If you can do what a broker can do, then you have no reason to hire a real estate broker. If you have time to show your property to a prospective buyer and you are good at marketing, then you don’t need to hire a broker. If you know the procedure when it comes to buying and selling real estate properties, as well as all the contracts and papers involved, then you need not hire a broker.
Deciding whether to hire a real estate broker or not all depends on your time, your skills, your resources, and the effort you are willing to put up. If you decide to hire an agent, be sure to hire a reliable one. If you decide not to hire one, then make sure you do your research well in order to make the process of buying or selling real estate property smoother and less-hassle.