Considering Making A Real Estate Transaction On Your Own?

Posted by Blanchard and Calhoun on Thursday, June 25th, 2020 at 8:39am

Working with a Real Estate Agent

Thinking about buying or selling property on your own?  With the internet, you probably figured everything there is to know about buying/selling real estate are just a few clicks away.  So, you’ve done some googling, read lots of blogs, written down some How-To tips and you are feeling pretty confident.  After all, you are a DIY’er by nature-what could possibly go wrong, right?  The truth is, it’s not easy; There is a lot that goes into buying/selling a house. If you are thinking of tackling a real estate transaction on your own in an effort to skip the agent’s commission, below are four of the agent tasks you may want to take into consideration before you begin:

Agents Know Real Estate Laws: Every state has its own set of real estate laws and agents have on-going training to keep up with those RE laws.  If you decide to buy/sell your home on your own, you will be legally liable for the contract and adhering to real estate laws.  A real estate agent can ensure you’re only agreeing to the terms you want.

Agents Understand Contracts and Paperwork: Unless you’re a seasoned investor, many real estate and legal terms may be unfamiliar to you.  In fact, the details of a seller or purchase contract may also be confusing.    Real estate agents understand contracts and purchase agreements. Because contracts are legally- binding documents, ensuring the paperwork and agreement is correct is crucial. If done incorrectly, you could be liable and possibly end up in court.

Agents Provide Marketing: If you are looking to sell your property, you will want to partner with a real estate professional who understands the importance of marketing. Most real estate professionals have to prepare their own marketing materials. Here at Blanchard and Calhoun, our agents work closely with a full-service marketing team.  In most cases, a marketing plan provided by your realtor will include top-notch marketing materials, professional photographs, open houses, and showcasing your property through all marketing channels, social media platforms, including the Multiple Listing Service (MLS).  Not only will your agent advertise your property, but Realtors have connections - listing agents know buyer agents.

Agents Know How to Negotiate: Real Estate professionals know how to negotiate.  An agent does more than just score the highest bid for the seller or seal the best deal for the buyer, real estate professionals negotiate all of the deal’s terms until both parties are in agreement.  In addition to the property’s purchase price, agents also negotiate the closing cost, closing dates, contingencies, home warranty, home repairs, fixtures, appliances, and inspections. And there is constant negotiating until the deal is closed.

Buying or selling a property will most likely be one of the biggest and complex transactions you will ever make.  Avoid financial and legal pitfalls by teaming up with a real estate professional. For a list of experienced and knowledgeable buyer or seller agents click here.

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