Page 42 - BEA December 2019 - January 2020

Real Estate
Why Hire a Real Estate Agent?

by Correspondent

Price
Contrary to what some people believe, agents do not
select prices for sellers or buyers. However, an agent
will help to guide clients to make the right choices for
themselves. If a listing is at 7%, for example, an agent has
a 7% vested interest in the sale, but the client has a 93%
interest. Selling agents will ask buyers to weigh all the
data supplied to them and to choose a price. Then based
on market supply, demand and the conditions, the agent
will devise a negotiation strategy.
Negotiation Skills and Confidentiality
Top producing agents negotiate well because, unlike
most buyers and sellers, they can remove themselves from
n world that has rapidly become borderless in the emotional aspects of the transaction and because they
terms of information, with information on almost are skilled. It’s part of their job description. Good agents
everything available (and saleable!) at the click of are not messengers, delivering buyer’s offers to sellers
Ia burton, it is easy to wonder why you need “an and vice versa. They are professionals who are trained
intermediary” as many have come to refer realtors as, to to present their client’s case in the best light and agree
sell their property. There are also the options of disposing to hold client information confidential from competing
of your house or land through regular marketing and interests.
advertising channels. The truth is, some do successfully
achieve the task without representation, without a real Real estate agents also widely network with other
estate agent. But it also true that many don’t. This is why professionals, many of whom provide services that you
you may want to hire representation to help you out. will need to buy or sell. Due to legal liability, many
agents will hesitate to recommend a certain individual
There are many reasons why you may want to sell your or company over another, but they do know which
property. If it is for resale at a profit, then you may have vendors have a reputation for efficiency, competency,
the time to wait to find a buyer. However, emergencies and competitive pricing. Agents can, however, give you
sometimes necessitate selling off property for a financial a list of references with whom they have worked and
solution. To save on time, hiring a professional will be provide background information to help you make a wise
worth the investment. A real estate professional who does selection.
will know the market better and the best prices. The trick Answer Questions after Closing
is to find the right person. For the most part, they all cost
roughly the same, so why not hire a person with more Even the smoothest transactions that close without
education and experience than you?. complications can come back to haunt. For example,
taxing authorities that collect property tax assessments,
Realtors are better informed regarding market doc stamps or transfer tax can fall months behind and
conditions mix up invoices, but one call to your agent can straighten
out the confusion. Many questions can pop up that were
Professional real estate have the market info at their overlooked in the excitement of closing. Good agents
fingertips and regularly monitor market conditions, which stand by ready to assist. Worthy and honest agents don’t
will govern your selling or buying process. Data such as leave you in the dust to fend for yourself.
the average per square foot cost of similar homes, median
and average sales prices, average days on market and The basis for an agent’s success and continued career
ratios of list-to-sold prices, among other criteria, will have in real estate is referrals. Few agents would survive if
a huge bearing on what you ultimately decide to do. their livelihood was dependent on consistently drumming
up new business. This emphasis gives agents strong
Agents also possess knowledge or they know where to incentives to make sure certain clients are happy and
find the industry buzz about your neighborhood. They can satisfied. It also means that an agent who stays in the
identify comparable sales and hand these facts to you, in business will be there for you when you need to hire an
addition to pointing you in the direction where you can agent again. Many will periodically mail market updates
find more data on schools, crime or demographics. to you to keep you informed and to stay in touch.

40 Building East Africa | December/ January 2020
Promoting sustainable development