Investing in real estate is supposed to be quite easy. In fact, almost everyone says, all you need is a little research and you will become a real estate pro within a week. However, that is just not true; is it? We all know that there is a significant difference between a trained professional with years of experience and an amateur. So, why is it necessary to have an expert real estate agent on board?
Here is what a Good Real Estate Agent can bring to the Table:
- Knowledge of Local Amenities and Pricing
For investors, pricing is very important. Everyone can get access to prices printed online or in MLS listings but local agents will be in the loop about an area and it’s pricing. They will also notice houses in distress sales or homes being sold for lower than market rates. They will have a definite idea about which areas in a neighborhood are good and why and the amenities available / unavailable in a particular region. In fact, local agents will also know which houses are in high demand and why.
- Real Estate Agents Cannot Lie
Full disclosure is mandatory from real estate agents. They are required by law to disclose everything they know about the property. As a result, estate agents can be quite serious about investigating a property before they list it for sale and before the contract is complete.
- Negotiating
Negotiation for any kind of property can take a lot of time. Real estate agents have the time and patience to do this correctly. They may start with low offers and then gradually increase the offer after consulting with you. For an investment buyer, this can save a lot of time and they can focus on many properties while the estate agent continues negotiations or drops the property.
- Repairs and Renovations
The most delicate part of a negotiation is requesting repairs. As a buyer, you have the right to hire a house inspector to vet the home. The inspector may prepare a list of defects that require immediate repair. If you are interested in buying the home, you can request your real estate agent to talk to the seller to carry out house repairs. The agent can negotiate with the seller to lower the house price or complete the repairs to get a better rate.
- Contracts and Zoning Expertise
A local real estate agent will know everything about paperwork and contracts and they will usually draw up everything for a sale. They will also know local zoning ordinances and they will ensure you find a house that fits your requirements.
Some people may not be real estate agents but they may be skilled enough to invest in real estate on their own. However, if you do not have the necessary skills, it’s a good idea to have an expert real estate agent on your team. His experience and training will definitely help you find the best properties anywhere and in any price range.
