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Pros And Cons Of Hiring A REALTOR®
Dated: December 21 2020
Are you thinking of buying or selling your property soon and are wondering if you need to work with a realtor? In this video, we're going to walk you through the pros and cons of working with a realtor to see if hiring one is right for you. We’ll also examine why most people choose to work with an agent so you can make an informed decision.
Why Work With An Agent?
The main reason people work with an agent is to make the most educated decisions. When you hire a real estate agent, we have a fiduciary duty to act in your best interest. Whether you are buying or selling real estate, it's a big decision to make. Hiring a realtor will bring peace of mind and ensure you know everything about your transaction.
For example, when you are purchasing a property, you are looking for more than just a place to live. You are making an investment that you expect to grow. Additionally—and most people don't know this—working with a realtor does not cost you anything out of pocket as long as you're the buyer. Traditionally, a buyer's agent is paid by the seller's agent in a transaction. A realtor’s job when representing you as a buyer is to help you find, negotiate, and facilitate the transaction from start to finish.
The Roles Of A Realtor
When you are selling your property—and if you want to maximize your sale price—using a realtor is typically the best option. Getting the most money for your property is all about marketing it correctly. When you hire a realtor to list your home, they will incur the expenses of marketing your property and facilitating everything along the way.
The largest concern people have in buying or selling real estate is getting ripped off. Hiring a realtor stops this. It's my job to not allow your emotions to make you make an uneducated decision you'll regret.
Another reason people hire a realtor is to handle the overall facilitation of the process. If you are unfamiliar with how real estate works, there are a lot of moving parts. Once a property goes under contract, that's when a large part of the work begins. There's a lot of diligence that needs to be done and processes to fulfill, and your realtor should be in charge of handling all of that for you.
Here are just a few examples of what I do: schedule inspections, help negotiate anything that may arise with any of the tests and inspections (like repairs), help organize and make sure everything is done on time, meet and remove contingencies, make sure we stay within our deadlines, time everything properly to make sure we stay on task with title financing, and make sure the other side does their part so we get to close on time.
Is Hiring A Realtor Right For You?
There are a few times when you might not need the services of a realtor as well. If you are a seller and have already located a buyer for your home or vice versa, you might not need the services of a realtor. However, I do recommend that you seek the advice of a realtor with any questions you have.
Ultimately, it comes down to what's most important to you: price, speed, or convenience. There are different kinds of real estate agents with whom you can work that offer different services. Just know that not all real estate agents are the same, and who you work with matters.
If there are any additional questions you have on the services of using a realtor, I love to speak with you. Feel free to reach out to me and I’d be happy to connect!
I am a full-time real estate agent at Century 21 Affiliated. I am licenced in both WI and MN, so I do business in La Crosse County and surrounding areas. I have been in the real estate business since....