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5 Reasons Why You Shouldn’t Buy Or Sell Your Real Estate Property Without Consulting A Real Estate Agent

buying and selling commercial real estate property with a help of a real estate agent

The number of services to help buyers and sellers in real estate transactions is continuously growing and hiring a real estate agent is a good idea in this dynamic market environment. You may think that a real estate agent will charge you high commission fees, but consider that doing the work on your own might cost you even more.

Yes, hiring a real estate agent means that you will obtain less money from the sale-purchase process. Consider those losses, but consider the benefits as well. In addition to the full-time job you probably have other responsibilities as well. Buying or selling a commercial real estate property is very demanding and time-consuming and therefore it can require a real estate agent.

Read on and find out why seeking help from a real estate agent is something you shouldn’t avoid.

Access And Convenience

Real estate agent will collaborate and communicate with you

Real estate agents are there to communicate and collaborate, easing the workload of buyers and sellers. The real estate agent will be able to look at all other available properties, and they know the process required in order to make a deal.

When buying a real estate property, the agent will look for properties that match your standards, will contact the seller’s agents, and can arrange a meeting. But, if you do all the work on your own, it would be much difficult and time-consuming process.

Agents will deal with daily calls and schedule appointments. The only thing you need to do is to show up at the property. In case you are unavailable, the agent will get the job done for you. Without an agent, it will be much harder to ask the buyer numerous questions and expect a relevant response, but if you do have an agent, he/she will take care of your interests or needs and answer all of your questions. He/she can protect you from bad offers and guide you through the deal.

Negotiation

negotiation phase between buyers and sellers

Many people think that a direct negotiation between buyers and sellers is better (instead of utilizing a real estate agent). But why? They think that they can protect their interests and get the best deal. But let’s see why this negotiation task is not an easy job at all.

As a buyer, for example, you may like a particular property, but you may not like some of its objects or rooms. If you have already hired a real estate agent, then you will be able to tell him/her what you don’t like the property and factor any additional renovating costs. That way, you won’t directly offend the current owner, because your agent will pass on the information to the seller’s agent.

The real estate agent serves as a liaison who may negotiate a discount with the owner more easily. Note that the seller may decide to decline the buyer’s offer, and here the real estate agent can help and work out things for you (in this example as a Buyer).

Conversely, a seller also benefits from the real estate agent who will protect the seller’s interests and attract potential buyers who are less likely to haggle with through unreasonable offers.

Contract Handling Phase

when signing a deal the real estate agent knows the conditions and knows how to protect you

When buying or selling a real estate property, the contract that you sign will protect you in case you want to withdraw from the commitment due to unfulfilled obligations. If you want to buy a commercial real estate property with a mortgage, but you are unable to pay for the financing, you may lose the money or the seller could sue you for not meeting the conditions of the offer.

The real estate agent knows what he/she is dealing with, and he/she knows the conditions, knows how to protect you (whether buying or selling).  If you don’t have any knowledge of the area, things could go terribly wrong, and you won’t probably know how to address those issues. Some of the rules, disclosures, and forms may be difficult to understand, and the agent will be there to help you with the paperwork and to tell you your rights as a buyer or as a seller. The real estate agent can address any issues that you might encounter during the transaction, and he/she can keep track of the deal.

Real Estate Agent Is Motivated To Have Integrity

Real estate agents are licensed professionals, and if they lie the consequences will be much worse than they are for buyers or sellers. If you make an agreement and choose a real estate agent from a licensed agency, regardless of the type of agreement (conventional, or full-service commission agreement), the agent will be liable to provide trustworthy relationship. The agent is liable to protect the client’s interests and to get the best deal. If you catch your agent lying to you, you will have several options. For example, you can rely on your agent’s broker, or professional association of realtors or give evidence in court (if you have any evidence) that your agent has not fulfilled his/her obligations. You should look for a legal counsel as well, in order to avoid any deceptions. An attorney can advise you when buying or selling a real estate property, but it can cost you much more than a real estate agent alone.

Save A little money? Or?

People think that if they avoid consulting a real estate agent, and instead take the work on their own, they might save some money. If you decide to sell your real estate property by yourself, you will determine the price in respect of other similar, regional properties. But bear in mind that a real estate agent will probably sell those other properties rather than the owners themselves. What does this mean?

The seller will get the percentage of the sales price that should have been paid to the real estate agent.

The buyers may also think that they would save money if a real estate agent is not hired in the purchase process. Nevertheless, they won’t get a commission if they don’t divide the savings.  

To Sum Up

The sale and purchase process is not as simple as it seems. Whereas some homeowners may consider themselves capable of selling their homes, this is not an easy job at all, and it can require a third party, a real estate agent.

The real estate agent can help you whenever you need professional advice, and moreover will guide you throughout the whole process until you get the deal.

Even though you may feel you don’t need professional help and you like to sort out things independently, you should still look at the advantages having an agent.

Sometimes it may be challenging to spot some property issues, so getting an opinion from an expert can be very beneficial. The real estate agent has knowledge and expertise and can recognize whether a property or buyer is a good match or not.

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Tags: commercial property sellers, commercial real estate, commercial real estate buyers, Commercial Real Estate Investment, commercial real estate properties, real estate agent, real estate property