Posted on: 7 September 2017
With continued advances in technology and information available over the internet. There are countless how to videos to teach a person anything Whether this involves unclogging a drain, replacing an alternator or cooking an omelette, anyone can become an expert. Buying and selling real estate is no exception as the web is full of information as to how to do this. But can this information outweigh the benefits of hiring a professional?
The difference in this case is that these trained professionals, known as realtors possess a variety of advantages in the market that a person can't get from reading an online article or watching a Youtube video. Through extensive training and experience a realtor will bring these advantages to the buying and selling process.
- Education - Andrew Carnegie, one of the most successful businessmen in history admitted that he knew nothing of the steel industry, but he hired the smartest people in the industry to run his steel business for him. Similarly most people know very little about the real estate industry and their best bet is to hire the best educated and most experienced realtor to do it for them.
- Market Knowledge - When looking for the perfect home, knowledge of what is going on in a neighborhood can be invaluable and part of a realtor's job is to know this information. For example, a person looking to purchase a piece of land on the edge of town may not know that a development company has just filed paperwork to build a 250 home subdivision adjacent to the lot. It is the realtor's responsibility to know such things.
- Paperwork - The real estate transaction process is very paper intensive with agreements, disclosures and regulations of every kind. Without the proper knowledge of what applies in each situation, a buyer or seller runs the risk of missing an important step in the process and opening themselves to large delays or liabilities. Realtors have the training to know what is important in each individual case to provide this protection.
- Time - While a real estate commission of 6-7% seems like a large amount of money, when a buyer or seller decides to handle a transaction they quickly learn the amount of time that is involved in making sure it all goes smoothly, time that could probably be well spent in other areas of their life. After all, Time is Money.
At the end of the day, trying to be an expert in something just to save some money usually works just the opposite. With the complexities and pitfalls of the real estate industry, hiring a professional is still the smart way to buy or sell.Share