Homebuyers can shop for properties without a Realtor, but it’s often a costly mistake. According to NAR, most homebuyers rely on an agent to handle everything from getting preapproved for a mortgage to closing the property. They also help find homes that match your specifications, assist in setting up tours, and advise you of red flags like furnace issues or leaky roofs.
They Know the Market
Purchasing a home is the biggest financial investment you’ll ever make. Having an expert to guide you through the process is invaluable.
A good Realtor in Coon Rapid, MN, will know the neighborhoods you’re interested in and can provide insights into property values, schools, traffic patterns and more. They will also be able to advise you on potential issues that might arise with a particular house, such as asbestos, lead paint, or water damage. An experienced Realtor will be able to help you determine the right price for a home by analyzing recent sales and market trends. They will also help you get pre-approved for a mortgage and can point you toward reputable lenders. They will make sure nothing falls through the cracks. This is especially important in this historic housing market, where things can go wrong quickly.
They Have Experience
Experienced real estate agents have market knowledge you can’t get from online searches. They understand what makes a home desirable to buyers and can offer insight into neighborhood features you need to learn.
They can also help you determine whether an asking price is fair based on comparable sales and recent data. And they know which loan programs are most suitable for your situation.
They can provide references for mortgage lenders, inspectors, attorneys and others you may need to complete the transaction. They can also advise you on how to interpret disclosures and other documents. And they can negotiate on your behalf with sellers to address issues from the home inspection or other problems discovered during due diligence. Their knowledge can save you time, money and frustration.
They Have a Strong Network
Buying and selling real estate is a long process, and it’s important to have a professional to help guide you through every step. An experienced Realtor can make the process go more smoothly and help you save money.
Experienced agents have a strong network that they can draw on to support their clients. They know who to recommend for mortgage lenders, attorneys, home inspectors, contractors and other professionals who can help you with your transaction.
They also know who to refer for advice about specific communities or neighborhoods. Depending on the local dynamics, this could include organizations like chambers of commerce, professional associations or men’s or women’s groups. This can give them an advantage over newer agents who may still need a robust business network.
Realtors are also leveraging AI to streamline their business, stay competitive and offer better services to their clients. They utilize AI for lead generation, property searches, valuations and administrative tasks. The emergence of AI technology within the real estate industry promises to increase efficiency and improve customer service. This is how Minnesota Realtors are leveraging AI to transform the real estate industry. While it cannot replace the decades of operational knowledge held by a long-time Realtor, it can supplement a brokerage’s efforts by providing insights into market trends and automating repetitive tasks like paperwork.
They Can Negotiate on Your Behalf
A Realtor has a fiduciary duty to act on your behalf. They know how to negotiate and can help you get more out of the transaction than you can.
This is especially helpful if you’re buying a new construction home. Experienced agents can help you negotiate for additional builder credits, practical contingencies and longer warranties on your new home.
They also can help you negotiate with the seller on items like closing costs, movers and more. When interviewing potential agents, ask them how much they charge and whether they are open to negotiating commission rates. You may be surprised that most agents will discuss their pricing with you openly and honestly.
They Have the Time
Anyone can shop for houses online, but an experienced real estate agent is physically looking at homes regularly. This allows her to identify what fits your expectations on the market quickly so you save time touring properties that won’t work.
In addition, skilled agents can spot red flags like plumbing leaks, structural problems or other issues that may be costly to fix if you buy the home. They can also verify if any changes were made without proper permits.
Ultimately, buyers’ agents help you find and purchase your dream home. That’s why 90% of buyers say they found their realtors essential during the process. So the next time you meet an agent that doesn’t do these things, keep searching.