Tuesday 30 July 2013

New To Real Estate? First-Time Buyers Need To Know Three Things About Agents

The decision to buy a home is not one to take lightly. In today's unpredictable economy, every dollar you use for your regular expenses or set aside for a future investment counts, so it's best to be absolutely sure about any purchase you wish to make before committing your hard-earned money for this goal.


New To Real Estate? First-Time Buyers Need To Know Three Things About Agents

To get started, today's first-time buyers can turn to the World Wide Web to gather information about real estate. Locals who need to learn the basics of the buying process and get a clear picture of the properties currently available in the market can visit the websites of real estate firms or browse through ads of independent sellers. But while going online can be a helpful step, it would also be a good idea to hire the services of a professional agent for handling more detailed aspects of purchasing a home, such as determining the long-term value of properties and negotiating the best possible price for a particular property.


What do reliable real estate agents do for their clients? Here are three important things:


Be perceptive about the client's needs to find the best property match. A good agent will not simply ask you the price that you wish to pay for a house and go off to find a corresponding option. An agent who takes time to sit down and talk to you about your purpose and vision can have a better understanding of the type of house you should buy. Is your family growing? Are you expecting a business promotion or possible travel opportunities? Does your health require you to stay away from busy neighbourhoods? Details like these have much to do with your satisfaction with a potential new home, and an agent who aims to know these details can find better options for you to consider.


Teach clients about the property market. Buyers may be eager to decide on their purchase right away, but a good agent — perhaps the best real estate agent out there — should also help educate clients about important aspects. They should explain, for example, what it means when a house has been listed for a long time, or why it's a must to have a house inspected for structural integrity or pests, or how a similar house in a different location was able to command a better offer.


Refer clients to other experts who can contribute to their informed decision. Real estate agents must make it clear to clients that they are not qualified to handle all matters relevant to their home purchase. Other professionals should be called in to manage other tasks, such as home loan lenders, financial advisers, solicitors, builders, inspectors, and the like. Agents can guide their clients in finding these service providers, though, if they have no idea yet where to start.


The matter of real estate agent fees is not regulated by law; it is something that agents and clients will have to agree on, although the rates tend to range from 1.5% to about 4.5%. However, if your agent demonstrates these three practices, you can be sure that the commission you pay will be money well spent to secure the best property.

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