No Real Estate Agent? Big Problem? | Bahamas Real Estate

Real Estate Agents are important in all real estate transactions! Not only are they there to assist in one of the most important transactions most will ever make but they are also there to help individuals through the process from the beginning to the end. Believe it or not, there are many people who feel that they don’t need real estate agents and that is cool also, however not having one can make a real estate transaction often go haywire. There are a ton of things that naturally go wrong in many real estate transactions and it’s usually during those times when individuals realize that they should have had better representation. Understanding the importance of what real estate agents do can help to make educated decisions on whether or not one should buy or sell without an agent. Most individuals who decide that they don’t want to use areal estate agents usually make that decision because they are trying to save a few extra dollars and although it sounds good ultimately not having one can cost more in the end. If you are not going to use an agent, try asking yourself these 3 simple questions that can help you understand whether you are making an informed decision on hiring a real estate agent.

1. Is The Price Right?

According to the National Association of Realtors, individuals who sold their homes without a real estate agent sold for $60,000 less than what the home could have actually been sold for. I don’t know about you but who wants to lose out on $60,000? Real estate agents when listing homes are experts. It is not an easy job when coming up with the best calculations in determining what to sell a house for. Real estate agents have access to the tools needed to give an expert market analysis to list the house at a fair market value. They understand that numbers don’t lie as well as how the market moves. They use this to determine the best price range for your home to be sold. Many sellers also believe that if they have an appraisal, that is all that is required but real estate agents understand that there is a science to selling homes. That science keeps them from comparing apples and oranges and they use factual data to understand how the market talks to them! Buyers on the other hand tend to not have the tools to determine on whether a house is priced right for a sale. They often can put in offers and not have factual data to determine whether or not they would be spending too much! In the end, it is important to note that real estate agents are trained to ensure that both parties get top dollar when the market talks! This brings us to our next question!

2. Are You A Master Negotiator?

Not only can a seller lose an average of $60,000 but they essentially negotiate against themselves with professional negotiators. Imagine listing a home without a real estate agent and showing your home to a buyer who is being represented by a real estate agent. That agent will negotiate on behalf of the buyer to get their client the best possible deal for the home, but who represents you as the seller? Real estate agents are trained to negotiate so are you prepared to negotiate against the master negotiator? Do you know the right questions to ask and the key points to negotiate? What if you get no offers? What if you get several offers? How do you decide which offer is best because it is not always all about the money. If you think it is, you might want to try and find an agent!

Why Sellers Should Exclusively List Their Property With One Agent

3. Fair Representation

Real estate agents when hired are there to make sure that you as their client is represented fairly and they always have your best interest at heart whether you are a buyer or a seller! Who wants to be blindsided by a professional when all you could have done is hire the professional? Real estate agent are there to help their clients, not just earn commission, which brings us to another important question!

4. Are You Familiar With The Duties Of A Real estate agent?

Many people who decide they don’t want to hire an agent do not understand how much work and effort agents put into their careers. Believe it or not they are not just sitting around by the phone waiting for someone to call and say they want to buy a home! Real estate agents go through extensive training, they keep updated with the market changes, the changing laws that affect real estate, they are professional marketers always looking for new creative ways to market your properties etc. Real estate agent are bound by the law when it comes to all real estate transactions and guess what? Because of it they can not lie! They have to tell the truth or face extenuating punishments or fines for not doing so. This means that they are accountable for their actions to make sure that they are lawfully working for you! This essentially means that they can be trusted! Why would you not want that type of representation? It’s kind of a no brainer!

Ultimately as you can see,real estate agents are important. They play a major role in walking all clients through the process of buying or selling their home. Would it be a problem if you bought or sold your home for more than what you wanted to? Would it be a problem if things didn’t go as planned and you didn’t quite know how to handle them? When determining whether or not you should hire a real estate agent, make the decision not solely based on trying to save out on paying commission because ultimately at the end of the day when the paperwork becomes overwhelming, your realtor is there to help make the process easier for you and help you to avoid bigger problems!

If you are interested in talking to one of our agents, leave your information below and we will have someone get in touch with you!

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