When you are buying or selling a home, you will in all likelihood consider using a real estate agent. The pros and cons of using a real estate agent need to be weighed up before you decide whether to appoint an agent, and considered when choosing the agent. Usually, when considering all the aspects involved in buying or selling a property on your own, employing the services of a real estate agent begins to sound better by the minute.
Benefits
1. A real estate agent is likely to be far better at his job than you are. Real estate is what they do for a living. It’s their job to promote your home or to find one for you, and they have the time and skills to do it.
2. They have all the information and skills necessary to bring about a happy financial outcome for you. If they have experience in the area, they will know the selling points and the drawbacks of the area too.
3. Hiring a real estate agent gives you the advantage of indirect access to the Multiple Listing Service which hosts an impressive number of listings. Being members of the National Association of Realtors, they abide by a Code of Ethics, which quite often has proved to be more strict than common law.
4. You don’t have to worry about the bills or period of advertising, since they are covered by your agent. They also have an existing network of possible buyers and sellers that they can contact quickly and easily. Online marketing should not be a problem for them.
5. You don’t need to stress yourself with the financial and legal contacts and paperwork. Neither do you have to be familiar with offers, contracts and such. Agents will do all those things for you. They are linked to banks and mortgage companies, as well as attorneys specialized in real estate. So you don’t have to waste time or effort looking for them.
Disadvantages
1. Whether you appoint a buyer’s or seller’s agent, there is a commission or fee to be paid. When considering the agent’s commission you should also keep in mind all the time and money you would have to invest in advertising your own home, or in looking for a new one.
2. In some cases, agents and clients can’t really seem to see eye to eye and the property transaction turns into a traumatic experience for all involved. Personality clashes and differing expectations can cause problems.
3. You are at the mercy of the agent, and often tied into a long-term contract of exclusivity. Generally, such contracts are made for a period of 6 months, and sometimes you may have the feeling that nothing is being done.
4. If you don’t want a disagreeable property transaction, you should be most careful when selecting the agent who will represent you.
We hear more and more often of agents who couldn’t care less about their clients’ interests when it comes to closing a deal. Although we might be tempted to form a solid prejudice against them, we have to remember that there are a lot of honest, trustworthy agents and it would be a shame not to use their skills. Your choice of real estate agent will affect your experience with them, but in general their knowledge of the market, the process of selling or buying a house and their sales skills are difficult to match.
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