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What an Real Estate Agent can help?
By arlene | September 25, 2008
Many people are discouraged by the perceived hassle and red-tape which is part and parcel of buying a home. Fortunately, this perception is not true. With the services of an accomplished estate agent, the prospective home owner will find that making that all important investment is easy and rewarding.
How an estate agent can help you
An agent can help you in the following ways:
Determining your buying power
Your buying power is your financial reserves plus your borrowing capacity. If you give an estate agent some basic information about your available savings, income and current debt, he or she can determine the home loan amount which you qualify for or refer you to the mortgage originator or bank consultant best qualified to help you.
Expanding your options
Sometimes the property you are seeking is available but not actively advertised in the market. It will take some investigation by your agent to find all available properties meeting your requirements. An estate agent can usually research your housing needs in advance, even if you are relocating from another city.
Source of objective information
Estate agents can provide local community information on schools, medical facilities, shops, amenities, crime levels etc. An estate agent can show you only those homes best suited to your needs – size, style, features, location and accessibility to schools, transportation, shopping centres and other personal preferences. This will save you much time and unnecessary driving around.
An experienced agent will be knowledgeable about the nature of the real estate market in the community you’re planning to live in. Utilising computer databases of properties sold or for sale in the area, the agent will be able to advise on the fair market value of houses you’re considering.
Negotiate in your best interest
There are myriad negotiating factors, including but not limited to price, financing, terms, date of occupation and often the inclusion or exclusion of repairs and furnishings or equipment.
The estate agent will negotiate between you and the seller, will structure the transaction and will assist you with the paperwork. This will include the completion of the Offer to Purchase and any other required documentation.
Guide you through the entire buying process
Your agent will co-ordinate and manage all activities taking place after the Offer to Purchase is signed right through until the property is registered in your name. He/she will help you understand the buying process and the paperwork involved.
The agent can mediate and resolve queries, disputes and problems that might occur during the process.
Finding the right agent
Do not work with too many agents – it is easier to build rapport with one or two agents than it is rushing around with many. The best way to get in contact with a good estate agent is by talking to relatives and friends. Their recommendations could lead you to an agent who could help you to close the deal as quickly and smoothly as possible. You could also drive through the areas you’re interested in and identify the agents most active in that area by looking for “For Sale” or “Sold” boards.
Another way to meet an agent would be by visiting show houses.
By studying newspaper advertisements you will also get an idea of the agents working in your suburb of choice.
Call the local branch of the Institute of Estate Agents and ask for the names of agents who sold the most properties in recent times. This way you’re sure to locate an active agent, with aproven track record, to assist you in your home searching quest.
The internet is another valuable tool to locate a good estate agent.
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Topics: Africa, Agent, Commercial, International, Investment, Market, Property | 8 Comments »
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