photo from unsplash by Ben Rossett
At some point in time, you may have thought of selling or buying property. To save on costs or avoid answering questions real estate people ask, you may even have considered closing a property transaction without representation by a licensed agent. Without an agent, sellers open themselves up to financial mistakes that could leave money on the table due to inattention to a rapidly changing market that leads to a low selling price or extended terms. Trying for an “as-is” sale with the hope that a dream buyer will appear is risky. Buyers can end up paying too much or missing critical disclosure that details the outcome of which are lost in time and money. Experience shows that working with a real estate professional avoids these mistakes and gets results.
Buying and selling property is a process that benefits from strategic planning, market savvy research, objective advice and delivering value on time. The old adage “time is money” directly applies to successful real estate transactions. A timely close of escrow allows you to get your money quickly when selling or take the title when buying. Working with a company like Redmond Realty in San Francisco, which has 30 years experience buying, selling and renovating bay area properties, can give you peace of mind, lower your stress, and ensure that someone with experience will negotiate the best price and terms.
What do Real Estate Agents actually do?
Licensed real estate agents do what you don’t have the time or don’t want to do with your best interest in mind.
- They have passed their state licensing requirements
- They work with an experienced real estate broker who oversees their transactions
- They consult with their clients to understand their needs
- They participate in the local real estate market and news
- They research property values and have active, pending, and sold listing information at their disposal
- They guide you in handling the paperwork involved in contracts and statutory disclosure
- They provide planning and coordinating appointments, open houses, showings, and meeting with potential buyers and sellers
- Lastly, understanding their client’s needs and are paid when they deliver timely results.
When is it The Right Time to Get a Real Estate Agent?
I would say the beginning. But for most people, they wait till they are in a considerable pain of not making real progress and not getting results. An active agent will help you align your expectations with the changing market. Selling, buying or leasing real property is a process. While you are in the process, the market can change due to direct or indirect influences. Consulting with a real estate agent you trust will keep you current and help clarify your needs so key decisions become easy. The problem of doing it yourself is that you might miss an opportunity, make an honest mistake or create a contractual obligation that could have been avoided, which can cost you time and money.
Buyers are at risk of
- buying the wrong property for the wrong reasons
- not understanding the competitive nature of our market and missing out
- not asking the right questions when it’s decision time
- buying a sellers problem
- leaving money on the table when they rush into a contract or remove a contingency
Sellers are at risk of
- “missing the market” when the property is positioned wrong or there is a market change
- negotiating from weakness and inexperience when a buyer gets an advantage
- noncompliance with statutory county requirements
- making unintentionally incomplete or misleading disclosures
- leaving the door open for unwanted litigation
These risks stated would be fixed or prevented by a real estate agent.
Where do you Find a Real Estate Agent?
Real estate agents are in every state making them experts in county and state compliance. It is best to get a real estate agent who has recent experience in neighborhood or area your targeting. Ask for local referrals and interview agents at open houses to test their knowledge and character. In San Francisco Redmond Realty SF has over 30 years of experience in San Francisco on every type of local real estate. Experience gives you something that just a license can’t.