The entire process of house hunting, renting or selling can be quite tedious and confusing. Dealing with decisions related to real estate is never easy. When making a decision on a real estate sale, purchase or rent advice from an expert is very useful. Here comes the role of an experienced and trustworthy property agent. He is the best person to look up to in such situations.
There are broadly the following types of Property Agents –
- Landlord’s Property Agent or the Seller’s Agent
This agent is appointed by the landlord. The interest of the landlord is their interest too. This agent advises the landlord on how to promote their property. If the owner wants to rent it out, then the agent works out the best rental price for them. On the other hand, if the landlord is looking at selling a property, then the property agent arranges for possible buyers, arranges for viewing and works out a deal in favor of the landlord.
- Tenant’s Agent or the Buyer’s Agent
The Tenant’s property agent is appointed by the tenant or the buyer. He works on behalf of the tenant and helps him to search his home. He arranges for viewings, helps his client to negotiate and closes a deal for the Tenant. In short, the Agent protects the interests of the tenant
Some of the many reasons of why we need a property agent are as follows –
- Our Agent works on our behalf – Understand our criteria, research and identify the available properties accordingly, schedule viewings, advises the tenants or the buyer on rental rates or purchase price respectively, negotiates with the landlord and/or landlord’s agent and thus finally helps his client to close a deal at their benefit as much a as possible.
- Validates documentations – The paper works and documentations when it comes to property dealings are very important and needs to be thoroughly validated. Our property agent is the life savor in this regard. He assists us with all the necessary paper works, deals with different types of payments at different levels of the process like Stamp Duty etc.
- In case we want an above-market rate then, an exclusive agreement does help – If the seller or the owner of the property wants to get a price that is more than the current market rate, then, it needs an exclusive type of pitching and selling. This requires much higher level of selling skills. He needs to do higher level of research, take more pictures of the house and post more frequent listings. It is to be noted that, mostly the non-exclusive agents do not spend the same time and required amount of effort for this. Hence going for an exclusive agreement in such cases is by far the better option in the long run.
- A property agent’s negotiation skills works at our benefit – Whether he is an agent of the buyer or the seller, in each case his negotiation power adds to the party’s advantage. Often there is a drop in property price which means it is possible to negotiate for a fair price for the property. However we being unaware of the current market trends might end up paying more. The role of a property agent here is that, with his specialized skills and knowledge, he can help us to get the best possible value of the house.
- Our property agent helps us a lot during home inspection – The house might have defects but invisible to the untrained eyes i.e. our lame eyes might fail to catch it when we go for viewing of the house. The property agent here can play an important role. He has the experienced eye to inspect and calculate the cost of rectification. Later, if the buyer wants to go ahead with the house, then, the agent can help the former to negotiate for a price of the house that would reflect the cost of the rectification.
Hence from the above discussion, it is quite evident that a reputable and professional property agent can help to save our time and money. Thus it is always safer to hire a property agent or real estate agent who knows the market well, has good list of properties to offer and understands our requirements and all criteria well. He is the best person to rely on for the purpose.