In the real estate industry paying attention to every detail counts, a real estate agent is trained to give information to his client on how every step taken, could lead to a good deal. Whether he is hired by a buyer or seller, the objective is to provide his client with advice that is in his best interest.
So who is a real estate agent?
This is a person who has a license to mediate or assist people buy, sell or rent a home; or any landed property from which they receive a commission for the sale.
If you do not know how the real estate business runs, an agent is the right person to guide you. He can get you the ideal home, or help sell yours at a good price.
An agent’s responsibilities are to the client, he will provide all the valuable information you need for every purchase or sale. And all agents are tasked to work in the interest of their clients. They stay with you through the process of buying or selling a landed property.
Now some people might not see the need to hire an agent beyond giving them access to potential listings and making a few phone calls; I can tell that an agent’s professional insight is just what you need to get real estate deals over the line.
You do not go to a real estate deal by yourself, this is why Brent housing provides references to reputable agents that are accountable and loyal to their clients, who are dedicated to getting you the right deal.
Here are the things that a real estate agent does for you:
Find an agent that understands the area
If you want to buy or sell a home you need an agent that knows the area well. You might be new to the location or stayed for a while but probably haven’t moved around much, either way, you need to know where to go and look. An agent can provide a lot of knowledge and insight into how the real estate landscape of the area works.
You should on your part interview a lot of agents; ask them for their recent completed deals in the area, and the kind of clients they specialize with; what their commission is and more importantly build some level of relationship with them before taking any of them as your agent.
An agent can help you search for the right home
If you are looking for a home to buy, your agent can provide you with listings that fit what you are looking for. When you choose the ones you would like to see the agent will take you on a tour of the properties for further observations and initial assessment.
This tour isn’t mainly what agents do, but a committed agent does this to provide more value to you his client and provide proper guidance on what you should know and look out for.
They pay attention to every document
Real estate deals come with a lot of documents that need to be looked at by someone who knows what to look for, and which questions to ask; this helps the client to be more aware of the nature of the deal they about to enter, either when they are buying or selling a property.
Since a trained real estate agent is familiar with all these documents more than you, he can spot errors and omissions in the documents that are prepared by a person who does not have a full grasp of how to properly draft a property document.
If you intend to proceed with a real estate deal without involving an agent who is more experienced to ensure that the transaction runs smoothly, then the least you can do is hire a broker to look at the contracts and documents to verify if they will benefit you or not.
They maintain your confidentiality and privacy
To ensure that agents pursue the interests of their clients, they practice a code of professional conduct regulated by the Nigerian Institution of Estate Surveyors and Valuers (NIESV) which is under the supervision of the Estate Surveyors and Valuers Registration Board of Nigeria (ESVARBON).
Any person that wants to buy or sell a house is usually not 100% comfortable with sharing their sensitive documents and financial details with a person who is not tied to the code of professional conduct by the NIESV, and as such is under no legal obligation to keep the information they are provided with on a confidential basis.
An agent with this qualification is who you should hire because knowing that your agent is trustworthy is important. He is the one to communicate and negotiate a deal with a seller or buyer on your behalf, and since your agent’s professional fidelity is crucial, he can identify if any information requested of you is beyond necessary for a deal to happen.
In case you are tricked or misled in some way to disclose sensitive information to a buyer or seller’s agent, you can seek redress at the NIESV branch in your locality.
Agents look at all the various factors
As a buyer you can give your agent a good idea of what you want, starting from what kind of house you want, how many bedrooms and bathrooms it should have, how the parking structure should be like, and the neighborhood you would prefer the house to be in.
This information you give the agent is useful in searching for a house for you, but there are some things the agent looks out for that you might not mention. The agent searches for homes without structural defects like leaks, porous roofs, unstable foundations, and also for homes that are not rodents and insect-infested. The knowledge and experience of your agent comes in here on every house inspection for potential signs of problems before bringing it to you.
An agent can also make a comparative analysis of the selling price of a house. They consider things like; the area where the house is located, how the houses there are built, and what the going price of houses in that neighborhood is; they also research people that live in the area, schools located in the area, the crime rates, and a lot of other important factors that will help you make an informed decision.
This information gathered by the agent is well researched, current and accurate. They will give it to you and provide their professional advice. This applies if you want to buy a house, or sell one. The analysis can help determine the price range that would be reasonable when you want to place the property on a multiple listings service (MLS).
Getting this information on your own can difficult and most likely take some time, but if you have an agent it can be sourced and made available to you promptly.
An agent has the skills to negotiate a good deal
In buying or selling a landed property there can be a lot of back-and-forth negotiations, which might not be something you can handle on your own; and if you are not an agent you probably would not know what terms you are negotiating and which you should be agreeing or disagreeing with. Having an agent there with you can put all that to rest if you are buying or selling a home.
An agent is trained in negotiating deals that would provide results. If you choose to buy a house that needs repairs, an agent would know how to negotiate with the seller or the seller’s agent on how to factor in those repairs in the deal.
The agent understands what would work and what wouldn’t, this is because of the techniques and strategies they use in negotiation to get you the best deal with no ‘strings attached’ to the outcome. For instance, if you want to buy a home and the seller gives you an offer above the asking price, you might not know, but an agent most likely will.
The agent’s skills enable him to spot potential openings you as a buyer can use to get a good deal at a price the property is worth, leaving you pleased with the transaction after payment.
Your agent will schedule and attend the closing of the deal
After all the necessary documents and negotiations have been completed, your agent schedules the closing. Depending on your state of mind and staying on the side of caution, attorneys will need to be present at the closing time, date, and location. The buyer’s attorney, seller’s attorney, buyer’s agent, and seller’s agent, all need to see and witness the final contract to close the deal.
Having a real estate agent walk you through all the important steps of a real estate transaction, is crucial to the success of any deal, and at Brent housing, we offer excellent advisory services for a lot of real estate ventures. You’re rest assured that we work to realize your goals, making every decision with your best interest at heart.