Exploring the various reasons why someone buys a propertyOctober 13, 2017
How to select the right Real Estate AgentOctober 16, 2017
If price were the only determinant in a real estate transaction, then it would have been a legitimate question as to why hire a real estate advisor. But more often than not price is just one of the factors influencing a real estate transaction. If you are buying a property, one of the key questions is why you need to buy a house. You may be buying it if you need a bigger house to accommodate new family members that may be children or children’s spouse. Or you may be buying a house just to stop renting one. Similarly if you are selling a property, it may be because of several reasons like making a profit from the sales with an increased value in the wake of recent developments in the location. Or you may want to relocate to another location, city or country and need to sell house pretty soon. There are other factors involved in a real estate transaction like amenities, locality, establishing new business and need for an office space, and so on. Real estate transactions are tricky and need expert guidance no matter what your age, profession and experience is. It is always a good choice to take the help of a real estate advisor. We will discuss in the following points why we need to hire a real estate expert or advisor or consultant as you may call one.
- Understands your needs: With the proliferation of internet based technologies, a huge volume of data has been made available to the common people. Now anyone looking for a home can search for the same in the dozens of listing websites. Similarly a person can also list his or her house for sale on his own in these websites. But the listing websites will fail to understand your needs effectively and there arises the need of a real estate advisor who can understand your requirements well and act accordingly.
- Market knowledge: The real estate advisors have a thorough knowledge of the real estate sector. They know which locations or projects are upcoming and which properties will be in demand due to these developments. They know more about the properties available for sale than the common person seeking to buy and can advice well based on the requirements of the buyers.
- Convenience: A real estate advisor does a lot of work for you with ease which otherwise may be cumbersome to you. The advisor does the property search through the hundreds of available options that meets your requirements saving you a lot of time and petrol. They establish the communication between the buyer and seller and facilitate the whole transaction effectively.
- Best price advice: A licensed real estate advisor has a list of all the available properties for sale and based on your needs and budget gives the best suggestion with maximum value for money. Often a real estate consultant doesn’t charge the buyer and instead charges the seller for their commission. So you can be assured of the best service from them.
- Helping with documentation: A real estate transaction is unlike any other transaction because it involves so many documents like the title deeds, conveyance deeds, encumbrance certificates, completion certificates, etc. This can be a headache especially for a first-time buyer. An advisor has a lot of experience in dealing with real estate transactions and knows what the paperwork involved are. They can handle this complicated process with relative ease and doing lesser mistakes.
- Awareness of lesser known properties: A real estate advisor is often approached by home owners to sell their properties as they for some reason are unable to list their property online on their own. This makes the real estate advisor aware of the lesser known properties for sale and hence they can present a buyer with more options than a listing website can. A real estate advisor is also aware of the listings of other agents in the market and therefore has a wide inventory to select from.
- Professional network: An advisor has the contact of all kinds of technicians like plumbers, carpenters, mason, grille experts, interior designer, etc and can help you settle down quickly and easily in your new house. They can be the one-stop solution for all problems related to your property and they save you a lot of time and effort.
- Filters to unwanted calls: If the word is out that you are looking for a new house to buy, a lot of agents of the builders can bog you all the time persuading you to buy from their projects even if it is not what you require. An advisor keeps those agents at bay and shows only those properties that meet your requirements. On the other hand if you are selling your house for any reason, a real estate advisor filters calls from looky loo and only brings you genuine buyers interested in your property.
- Awareness of the neighborhood situation: Every property is a part of a neighborhood. When you are buying a house, you are becoming a part of the neighborhood. A real estate advisor has the inside knowledge of the neighborhood and can tip you about the locality that a listing website won’t do. So by hiring a real estate advisor you are becoming aware of the neighborhood beforehand and can make your purchase decision accordingly.
- Negotiation: Negotiation is a tricky business and not everyone is good at it. A real estate advisor works for the buyer and tries to fetch the house at best price since customer satisfaction is their priority. They have done dozens of deals and know exactly how to negotiate with the seller.
- Gives truthful advice: A builder’s agent may lie about the demand or locality of the property in order to persuade you to purchase from their listed builder. On the other hand a real estate advisor works for the buyer and hence more often than not gives truthful information about the property. Otherwise they run the risk of losing their credibility, affecting the long-term relation with the buyer.
- Saves Money: In real estate, the purchase decision is often made with emotion rather than rationally, especially without the guidance of an expert. An advisor knows the actual price of the property and will tell you whether the asking price by the seller is justified or not. So even if they take a commission, in the long run you actually save money by hiring a real estate consultant.
- Long-term support: The business of a real estate advisor runs on the relationship with their customers and is based on referrals. If a real estate advisor have to develop new business all the time, it is less likely for the advisor to stay in the market for a long time. So the advisors give long-term support and are always ready to go the extra mile to keep their customers satisfied and happy.
- Specialization: It is a myth that all real estate agents or advisors are the same. Most people believe that their job is limited to scouting for properties and establishing communication between the buyer and seller. There are specializations among the real estate agents like any other profession. While one agent or advisor can be good at dealing with commercial flats, another may be good at dealing with villas and bungalows. One must find the right kind of advisor to deal with.
- Help with financing: A real estate agent has contacts in the housing finance institutions as well as private lenders. If you are looking to purchase a house on finance, a real estate advisor can be your guide and refer you for the loan. They are also acquainted with the documentation process for the home loan and can help you with that.
- Handling Legal issues: If there are any legal issues associated with the property a real estate advisor can give you advice on that or refer you to a good real estate attorney. Their vast experience makes them aware of the legal complications like problems faced during resale of the property, etc.
Thus it is always beneficial to take the help of a real estate advisor or counselor when you are going to do a real estate transaction. They offer you a wide range of services other than just property search or setting up meetings between the buyer and seller.