Should I hire a property agent?
In addition to our savings, buying a house is difficult for most of us, especially for the unfamiliar process and legwork involved, we simply need some guidance through the maze.
Similarly, if you are selling property, the paperwork and processes may not be as simple as you think.
This is summary of 5 benefits to engage a property agent.
- Smoother selling and buying process
- Expert knowledge of an area
- Expert negotiation skills
- Save time on research
- Protection under the Professional Indemnity Insurance
1. Smoother selling and buying process
The nature of the industry is that property agents usually get paid after the sales converted. Therefore, most agents will compete and try to provide the best service.
Some may even work harder to assist buyers and provide them with a full range of real estate-related services, including collecting property information, analysis, pricing, unit selection, applying for mortgages, insurance, defect inspections, and even assisting in acquiring tenants.
Property agents usually more familiar with the process of buying and selling simply because they are dealing it most of the time.
They will ensure a smoother transaction experience.
2. Expert knowledge of an area
Agents will be able to advise buyers on prices and indicative future value, as well as provide information on factors that will increase the value of the community in the future.
They can also assist buyers with mortgages and valuations because they have been trading with bankers and valuers for the track record and past transactions of many similar properties in the same community.
How to spot a reliable property agent with their expert knowledge? Read here 7 clues to spot a reliable property agent.
3. Expert negotiation skills
Experienced agents usually gone through a lot of negotiation, and they get used for the rejections such as “bang on over the phone”.
They know how to give specific numbers and support sources and trying their best to get the best price for both the buyer and seller.
Some of them even apply the S.M.A.R.T module in their negotiation, which is:
- Specific – Specific past transacted reports and supporting materials.
- Measurable – Easy and simple understanding measure from A to Z.
- Agreeable – Keep the discussion agreeable, it’s not easy.
- Resourceful – Well prepared with the supporting materials.
- Time – Some cases need to “let the bullet fly”, the right timing is considered important too.
So, an expert property agent always look for the best of both world, WIN-WIN SITUATION
By the way, I am Cheston Choo, one out of the thousands property agent too 😂
4. Save time on follow up and researches
Reliable property agent able to show you specific numbers & facts anytime with their hard work and experienced.
So you can save a lot of time for the researches, understanding the future development and even for the comparison(s).
Not only that, most of the time, their referral of bankers and lawyers can give you better benefits compared to yourself walk in to get “quotation”.
Beside cheaper in price, majority of services provided even better in quality as well as they wants more in business and it’s long term.
It really takes away a lot of hassle from the follow up with bankers, lawyers and the other parties (Seller vs Buyer).
— All these could handled by the property agent.
5. Protection under the Professional Indemnity Insurance
When you engage a registered property agent, should there be anything that goes wrong with the deal, you can always report to the Board of Valuers, Appraisers, Estate Agents and Property Managers.
Also, you are covered under the Professional Indemnity Insurance
Would you like to purchase Professional Indemnity Insurance? Or simply learn more?
See Ivan Tan — “Your risk is my business”
Of course we don’t want this happen to us, best is we could make sure the property agent is reliable.
Check out the previous post regarding clues to spot a reliable property agent.
No no to property agent? This is 3 why you close your own deal.
- Save cost – no commission needed.
- No risk of misleading by irresponsible agents
- Lesser pressure to deal quickly
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