There are fewer and fewer homes for sale than ever before. Though inventory has not rebounded, the homebuyer market is in full force. That has created a number of difficulties for buyers looking to get into a home.
One of the first things that potential buyers should be doing is looking into a real estate agent. In a market like this, it can mean the difference between finding a home that works for you and not being able to find something at all.
1. Extensive Market Knowledge
While it can seem simple to buy a home – find a home you like and make an offer – there is so much more to it than that. Even the process of finding that home is a lot more difficult and time-consuming than most buyers ever realize.
Real estate agents have an extensive knowledge of the local market and the surrounding areas. That means knowing where the best deals may be and where trends may be working against the buyer.
2. Make the Search Easier
Despite a lesser inventory of homes for sale than ever before, there are still a plethora of options out there to choose from. The problem is that there are more buyers than ever before looking at those limited options.
Having a real estate agent means having a professional who knows what to look for. They can identify the homes that are the best fit for you, getting you in there sooner rather than later to get a look. Less wasted times means more of a potential opportunity to grab the house that you have been looking for.
3. They Can See the Issues
Especially in a busy market like this, it is far too common for buyers to overlook issues or not see them entirely. They wind up buying a house that has more issues than they realized, leading to buyer’s remorse along the way.
But real estate agents and companies like Loyal Homes know how to spot those red flags. They have been there and done that, so they know the signs of trouble before they become apparent to the average buyer. Having a real estate agent in your corner can mean avoiding buying a lemon of a house.
4. Huge Networks
Another major benefit of having a real estate agent in your corner is the network of professionals that they have on their side. Real estate agents not only know other agents, but they know brokers, title companies, staging companies, home repair experts, contractors, mortgage brokers, and more.
They can find a contact that will help with each stage of the process, from the financing to making any renovations or repairs. Without them by your side, it means having to develop all of those connections manually, which takes time and effort. Having a real estate agent is like having a cheat code when it comes to creating those connections.
5. They Negotiate for You
While it may also seem as simple as a seller asking a certain amount on their house and the buyer accepting, it rarely is that simple. In today’s market, where home prices are routinely going higher than the value of the home, a real estate agent can be invaluable.
They can negotiate on behalf of the buyer, potentially bringing the price down a little along the way. But without that expert, it can mean making an offer that doesn’t stand a chance, wasting time along the way. Having a real estate agent means being in the game.
6. Price Guidance
Even if you have done your homework and think that you have a fair idea of what homes should be going for, it may surprise you just how wrong you have been about things. A real estate agent knows the trends and has the experience to know what pricing can and should look like.
A real estate agent also has the resources available to run comps that can help create a better price point for that neighbourhood. While the market can change and prices aren’t set in stone based on other comps, it is a good indicator of what to expect.
7. Off-Market Homes
Where having a real estate agent can be particularly helpful in a market like this is in finding off-market listings. Sure, you can use those real estate websites, but they often don’t post listings until they have hit the market. In this climate, that is too late.
Real estate agents have access to off-market listings, which can mean getting a jump on a property before anyone else is aware of it. In this climate, getting the edge in any way is of the utmost importance. Make sure that you get as much of an advantage as you can with the help of a real estate agent.