The Benefits of Hiring a Real Estate Broker
It is a sound practice to seek constant advice from real estate brokers. Their years of experience and expertise can only be beneficial for a first-time homebuyer.
You hire a broker because you want your property transaction to end favorably. Since real estate transactions cost a great amount of money, you would want to have someone on your side, looking after your interests. A broker with a solid track record is your assurance that your property will get the best value. Or if you are on the hunt for properties, your broker will do their best to find the right property for you, the one that matches your needs and wants, as well as your budget.
Having a broker on your side, you gain access to information that only insiders have. Not only will you be gaining industry knowledge from your brokers through time, you will have access to their own private listing. Brokers are often approached by homeowners who urgently need to sell their properties before the banks foreclose them. These homeowners would always prefer to sell and pay off the bank rather than have the property foreclosed. By tapping into this market, you get to help these troubled homeowners at the same time you get a bargain as the selling price would always be lower than the market price. One way to see whether they are on top of their games is to ask your broker about other nearby properties for sale. A professional and licensed broker ought to know about other properties in the area.
It’s equally important to have a broker on your side during negotiations. Their skills are critical in securing the best deal possible for your property, regardless of the asking or the selling price. Brokers know how to best negotiate for the right price. If they have been in the business for more than five years or so, then you are assured that they are seasoned negotiators and are beyond their learning curve. They would have enough expertise to save you from any hidden pitfalls in the market. A good indication of his negotiation skills would be the sales record. Ask brokers for a list of properties they have listed and sold in the past year. It is best that you also talk to his past clients and gauge their satisfaction. Try to get information on the asking and the selling price so that you can see whether the interests of past clients were well served.
Your price range is also a consideration as the mass housing market is vastly different from luxury residences, agriculture or commercial properties. You can mention a house in the area that was sold recently or is up for sale. If your broker is aware of these details and could give more, that means he or she remains in the loop with what’s going on in the industry.
Remember to always pick a broker who is a winner!