The Pros And Cons Of Going Through A Real Estate Broker

A good real estate agent can definitely make or break your deal.

Do you know the difference between Realtors and real estate agents? Which type of real estate agency is best for you? What is a listing agreement, and do you need to sign a buyers broker agreement? How are real estate agents paid and how do they operate? It would be good to find these out before you start shopping for a home. Despite having so much information available online, some individuals would still ask why the need for brokers?

Many wonder, couldn't they buy or sell a home through the Internet or through regular marketing or advertising channels without the need for a real estate broker? Some home buyers and sellers do it by themselves, and they feel OK; however many don't, and end up losing out on a deal.

The Good Side Of Getting A Real Estate Broker

So why would you acquire a professional property broker? Ask yourself first, could you do it by yourself, or do you still need assistance in successfully closing a home sale? Here are a few reasons why getting a broker helps.

- Many Brokers Have The Education & Experience

You probably don't need to know every detail about buying and selling real estate if you hire a real estate professional who does the work for you. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find the right person. For the most part, they all cost about the same.

- Brokers Have Complete Info On Market Conditions

Real estate agents get info on current market conditions, which will influence your selling or buying process. Many factors determine how you will proceed. Data such as the average per square foot cost of similar homes, median and average sales prices, average days on market etc., among many other aspects, will have a large impact on your decisions.

- They Can Handle Volumes of Paperwork

One-page deposit receipts were common in the early 70's. Today's agreements run 10 pages or more. That does not include the federal- and state-mandated disclosures nor disclosures dictated by local custom. Most real estate files have an average thickness of one to three inches of paper. One small error or omission could land you in court, or cost you penalties.

- Brokers Have Professional Networks

Real estate brokers' often network with other professionals, many of whom provide services that you will need to buy or sell. Due to legal liability, many agents will hesitate to recommend a certain individual or company over another, however they do know which vendors have a reputation for efficiency, competency and competitive pricing.

What If You Don't Get A Broker?

The major benefit of selling/buying a home on your own, is that you might save some money, since you won't be paying any commissions.

However, if you do it by yourself, you may have to cover the costs of marketing the property out of your own pockets. The other risk of doing the selling yourself, is that, complete strangers who aren't serious and who have not been prequalified will be viewing your home, and this would result in a serious waste of your time.

You'd be amazed at how many people just like to go sight seeing on the weekends. Next, real estate contracts are quite complex these days, and even if you find a serious buyer, who's going to do the paperwork, would it be you or them? Unless you're very experienced in real estate, it is strongly recommend you get a real estate broker.

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