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Real Estate Agents – Yay or Nay?

With the proliferation of real estate platforms such as iProperty, Speedrent and PropertyGuru, it is arguable that the role of real estate agents may be rendered redundant. Having said that, buying or selling a home is a massive financial and emotional undertaking, and the process isn’t as simple as many may assume.

Here are 3 reasons why you shouldn’t disregard the notion of hiring a real estate agent just yet.

1. Local market insight

Source: PropertyGuru

Top real estate agents have one thing in common – they understand the local real estate market and are equipped to navigate it. With the right real estate agent, homebuyers and sellers would have the assurance that they would be guided to make the right offer to get a fair deal and to price the property effectively whilst taking into consideration the environmental, political and economic conditions.

A real estate agent’s job is to act as the liaison between the buyers and sellers. Therefore, they would be in the best position to price a property competitively and to find the right buyer willing to pay the best price. They would also be able to consult their clients on the market outlook and current trends. Knowing the ins-and-outs of the local marketplace is crucial even after you have all the data from the internet.

Without the intuition and local market insight, your property may languish in the market, resulting in financial loss.

2. “One stop shop” service

Source: Hollywoodtimmes

Buying/selling your home can be a stressful process. There are many processes involved, i.e financing, loan, insurance, home repairs… the list goes on.

Some real estate agents can provide you with a ‘one stop shop’ service by streamlining the home buying/selling process. This will eliminate the need to contract and procure the respective services that you require. It may even result in lower costs as most real estate agents would typically offer a “bundled service”.

3. Navigating the paperwork

Source: A Brokers Life

Paperwork is one of the biggest and most important component of a real estate deal. An experienced real estate agent deals with the same type of contracts on a daily basis and would be familiar with the terms and conditions, and thus would be able to advise you should there be any terms that are out of the ordinary.

A novice may not be well-versed with the legal and real estate jargon involved. Furthermore, the chances that you miss something or misunderstand any part of the process can be significantly reduced when someone who knows the paperwork inside and out is handling it.

Technology contributes to easing the process but does not diminish the role of real estate agents as they still have an important part to play. Whilst it’s true that the services of a real estate agent are certainly not mandatory for buying or selling a house, a reliable real estate agent would make the process much easier and hassle-free for the homebuyers and sellers.

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