In the past, real estate agents were seen as auxiliaries in the whole process of buying and selling by the public. This perception has been slowly changing over the past few years, but to completely overcome the obstacles presented by discernment and myth, it is crucial that the veil surrounding real estate agents be lifted.
Due to the fact that buying and selling property in the past was considerably less complicated and less regulated, the industry has remained largely localized and informal.
In stark contrast to this, the current complex world of global cross-border transactions in real estate sales and real estate investments has made these day-to-day actions of the industry very complex.
Strict due diligence laws apply to every transaction and to make matters worse, the advancement of new technologies, online digital marketing and global anti-money laundering legislation have made the sale of goods a highly specialized profession, justifying the services of an expert: the certified, registered and approved real estate agent.
However, aside from the complexities associated with regulations, the key benefits of using a professional estate agent from a reputable company are often overlooked and when assessing the value these services have, it becomes immediately clear that the use of these services is extremely beneficial for buyers and sellers in the majority of cases. Here are some of the main benefits.
Save you time looking for buyers or properties for sale
Real estate agents save you time in several ways. If you are a buyer, your file with the agent will lead him to compile a portfolio of properties that perfectly match your criteria instead of scouring the vastness of the Internet in search of properties. Very often the properties you find online have been sold and are no longer on the market. An agent will know this in advance and these candidates will not be part of what they present to you, saving you a lot of time.
Estate agents will also have access to a database of pre-qualified domestic and international buyers to whom they can pitch your property immediately versus a local “shotgun approach” that most sellers will deploy if they prefer to sell their own property. Plus, agents will also filter out curious “fake buyers” who just want to poke around and take a look at your home.
Market knowledge
Estate agents deal with property for living. They are immersed in it every second of the day and know the stock, new listings, history of a given property and even whether it is appropriate to present it to a potential buyer. They know the areas, market conditions, trends and properties to avoid, unlike a buyer who scours the market.
Professional real estate agents know the rules and regulations, the laws applicable to every property and every transaction and have all the right connections.
Most of us as buyers and sellers have other jobs and don’t deal in real estate transactions for a living, so we might not give it our full attention. This is where a reputable real estate agent will really shine and relieve you of all the burdens and stress.
Estate agents not only have a pool of qualified local buyers and investors, but also access to countless overseas buyers that a seller will not have.
Professional and qualitative real estate companies invest heavily in marketing Malta at foreign fairs, on international portals and in creating international agency agreements with third party companies. This is a very significant game changer in the property sales industry, especially in countries like Malta where there is a strong appeal for expats.
Real estate agents are skilled negotiators
Good real estate agents are masters at reading situations and people. Whether you’re buying or selling, you’ll most likely be an open book with your emotions, which can get in the way of getting the best deal. Buyers and sellers are very likely to be swayed by their emotions, clouding their judgment to make an informed decision.
Estate agents are impartial: they have an obligation to their reputation, act in the best interests of both buyer and seller, and are not emotionally invested on a personal level in a property because they do not own it or have not intend to buy it themselves. So they can make a much better and lucid decision during the negotiations and the biggest advantage is that you don’t even have to be present.
Agents are also adept at reading facial clues and body language, while the public is generally unaware of the signs and signals a potential buyer or seller may display.
Estate agents always know best when it comes to prices
It is not in a good agent’s best interest to overvalue a property, as the property will not sell or at best stay on the market until the expected value of the property is achieved a day.
To arrive at the right price for your home, real estate agents will perform a comparative market analysis of your home, as they have access to information and sales history in your area that you will not have, while comparing your property with similar properties. properties that have just been sold, thus measuring market prices in real time.
It’s also worth noting that sellers’ ego usually plays a huge role in real estate: usually when an agent realistically rates a property at the right price, the seller either thinks they can get more or that his house is much better than one of similar size. recently sold properties in the area. This may not always be the case, as the agent based their advice on the cold truth: simply what the market will be willing to pay for your home.
“Many agents go above and beyond the call of duty and will, for example, run errands on behalf of clients, pick them up or drop them off at the airport, arrange restaurant reservations and much more. although it is not planned”
Respectfully, it is always the seller’s prerogative to set or agree the final sale price, but if this is completely unrealistic, agents may not feel comfortable promoting an overpriced property.
On the other hand, all is not lost, because an initial marketing price higher (within certain limits) than the expected selling price can always be adjusted over time, if the good did not initially sell. In this case, you will most likely remember the agent’s main advice when you went to the market.
When it comes to buyers, a good agent will also advise them when their offer is considered cheeky or “low”. Also, while a real estate consultant has a duty to pass on any offer submitted, don’t expect a good agent to be very eager to present that offer as a “best push” when it is in fact considered like an insult.
Agents work when you don’t
Apart from normal business hours, real estate agents also work after-hours, weekends and public holidays, as this is usually the ideal time when buyers have free time to view properties or when sellers can afford to arrange viewings.
A big part of a real estate agent’s day is scheduling convenient buyer and seller appointments and scouting the market to find the right property (which may not even be for sale yet) for you. their clients.
Many agents go above and beyond the call of duty and will, for example, run errands on behalf of clients, pick them up or drop them off at the airport, arrange restaurant reservations and much more, although that is not expected.
Agents will set up and arrange appointments with notaries, architects, and deal with state department bureaucracy, which takes a lot of time and effort. Just be aware that when you’re sleeping or at the beach, sharing some quality time with your family, your agent is unlikely to do the same, as they’ll always be in the office.
Final Thoughts
We can say that the era of the “informal” or “sensar” real estate agent is over. To be considered a professional agent, it takes extremely hard work, knowing the law, serving your clients well, and sacrificing a lot of your personal life to stay on top. Those of us who have used estate agents in the past realize all the benefits: estate agents save you time and money. The fact that they relieve all the stress and worries is priceless. That alone is worth every penny of their income.
Alex Papagiorcopulo is director at Homes of Quality
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