Real estate transactions involve one of the biggest financial investments most people experience in their lifetime. Transactions today usually exceed $100,000. If you had a $100,000 income tax problem, would you attempt to deal with it without the help of a CPA? If you had a $100,000 legal question, would you deal with it without the help of an attorney? Considering the small upside cost and the large downside risk, it would be foolish to consider a deal in real estate without the professional assistance of a REALTOR®.
Here are some reasons why using a Realtor can be beneficial:
1.Your Realtor can help you determine your buying power: that is, you’re financial reserves plus your borrowing capacity. If you give me some basic information about your available savings, income and current debt, I can refer you to lenders best qualified to help you.
2. Your Realtor has many resources to assist you in your home search. Sometimes the property you are seeking is available but not actively advertised in the market, and it will take some investigation by myself to find all available properties.
3. Your Realtor can assist you in the selection process by providing objective information about each property. I can provide local community information on utilities, zoning, schools, etc. There are two things you’ll want to know. First, will the property provide the environment I want for a home or investment? Second, will the property have resale value when I am ready to sell?
4. Your Realtor can help you negotiate. There are countless negotiating factors, such as price, financing, terms, date of possession and often the inclusion or exclusion of repairs and furnishings or equipment. The purchase agreement should provide a period of time for you to complete appropriate inspections and investigations of the property before you are bound to complete the purchase. I can advise you as to which investigations and inspections are recommended or required.
5. Your Realtor provides due diligence during the evaluation of the property. Depending on the area and property, this could include inspections for termites, faulty structure, roof condition, septic, etc. I can assist you in finding qualified responsible professionals to do most of these investigations and provide you with written reports. You will also want to see a preliminary report on the title of the property. The title to most properties will have some limitations; for example, easements (access rights) for utilities. Either myself, the title company or an attorney can help you resolve issues that might cause problems at a later date.
6. Your Realtor can guide you through the closing process and make sure everything flows together smoothly. I make sure that you understand each step that is occurring in escrow and that you are updated frequently.
7. When selling your home, your Realtor can give you up-to-date information on what is happening in the marketplace and the price, financing, terms and condition of competing properties. These are key factors in getting your property sold at the best price, quickly and with minimum hassle.
8. Your Realtor markets your property to other real estate agents and the public. I can often recommend repairs or cosmetic work that will significantly enhance the salability of your property. I act as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc.
9. Your Realtor will know when, where and how to advertise your property. The studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends, family and personal contacts. When a property is marketed with the help of your agent, you do not have to allow strangers into your home because I will generally prescreen and accompany qualified prospects through your property.
10. Your Realtor can help you objectively evaluate every buyer’s proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections and financing, which can cause a lot of possible pitfalls. I can help you write a legally binding agreement that can be a win-win for both parties that will make sure the transaction stays smooth and closes on time.
11. Your Realtor can help close the sale of your home. Between the initial sales agreement and closing, questions may arise. For example, unexpected repairs are required to obtain financing or a cloud in the title is discovered. The required paperwork alone is overwhelming for most sellers. I am the best person to objectively help you resolve these issues and move the transaction to closing.
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