Working with a Real Estate Agent
Discover the importance of working with Real Estate Agents.
Why Work with a Real Estate Agent?
Buying or selling a home is a major life event which creates both excitement and stress! The amount of information available and the number of services claiming to be a one-stop-shop can be overwhelming. The stakes are high with such a major financial decision, and to get the best outcome you'll want to find a top real estate agent who will be on YOUR side. Working with a great real estate agent will significantly enhance your experience and transaction.
A good real estate agent acts on your behalf throughout your real estate journey. A real estate agent will help you in a number of ways and have access to resources unavailable to non-agents in your area, like listings of homes for sale, connections to partners within the industry (lenders, builders, and more), and understands the real estate transaction process, including jargon like “escrow”, “days on market”, and more.
If you're a buyer, this means they can help with neighborhood identification, home selection, submitting an offer, negotiating, and more. For real estate sellers, an agent can support pricing, listing, fielding offers, and moving your home sale forward. A top real estate agent will support your purchase or sale from start to finish and make sure your real estate dreams come true. Although it’s hard to compare real estate agents for your transaction, in time you’ll be happy you took the time to screen agents and identify the best real estate agent.
Whether you're a first time buyer or you've done this several times before, comparing and choosing the best real estate agent can help guarantee that you get the most from the experience.
According to the National Association of REALTORS® (NAR) the typical home buyer found several benefits provided by real estate agents including: Helping understand the process, pointed out unnoticed features and faults with potential properties, knowledge about quality service providers in the area (e.g. inspectors, contractors, financing, etc), better negotiated terms, shortening the process and improving the buyer's knowledge of search areas. These are just some of the benefits that choosing the best local real estate agent will provide on the buyer side.
Sellers also have a tremendous amount to gain from working with a top real estate agent. Oftentimes property owners might try to sell their property without a real estate agent. In 2021 around 10% of all purchase transactions were done as For-Sale-by-Owner (FSBO) and these properties were sold at a median price of $225,000, significantly lower than the median of agent assisted homes at $345,000. That is an average of 35% more that you as a seller could be leaving on the table if you don't work with a top real estate agent.
For example, let's imagine you're a home seller with a home worth about $300,000. If you attempted to sell the home yourself as a FSBO you lack the experience and connections to properly market the home, negotiate, and weed-out lowball offers, so you might end up losing the above noted 35% value, dropping your closing sale price to $195,000. If you were to work with an average or below average, you might close for $300,000, pay the agent a 3% commission of $9,000, and end up netting $291,000. However a top agent might be able to negotiate up or create a more competitive listing, upping the closing price by 10% to $330,000. After paying a 3% commission you're making $320,100; that's a difference of $29,100 in your pocket!
In addition to all the above added benefits, using the best local real estate agent can save you from future financial risk if you don't know how to skillfully evaluate a property, improperly complete necessary transaction paperwork, or fail to do your due diligence when weighing financing options. A skilled, veteran real estate agent can guide your transactions with their years of experience and technical know how.
There are near countless benefits that come with finding and working with the best real estate agent. Although it does take time to find and compare real estate agents, you will ultimately save time compared to if you attempted to manage the entire transaction yourself. Plus, whether you're a first time or veteran home buyer or seller, you know the stakes are high when it comes to a real estate transaction. With markets becoming more competitive everyday, the right agent can ensure your transaction goes just the way you want it to, so it’s important to find a real estate agent near you who understands and can manage the real estate process.
At the end of the day, your real estate agent and real estate broker should be advocates for making your transaction a success. The best real estate agents are your partners throughout the transaction, providing expertise, support, and a reassuring presence ensuring you achieve the outcomes you're aiming for.
Why Work with a REALTOR®?
You may have heard the terms Real Estate Agent and REALTOR® used interchangeably - however they are not the same thing. While you become a real estate agent after you have have passed the state licensing exam and begin practicing at a brokerage, a REALTOR® is “a real estate professional who is a member of the National Association or REALTORS® and subscribes to its strict Code of Ethics”.
Working with a REALTOR® can have a number of benefits over working with someone who is a licensed real estate agent but lacks membership to the National Association of REALTORS® (NAR). Since its founding in 1908, NAR has been the industry leader for the best real estate agents and is currently the largest trade association in the country. An agent's REALTOR® designation means they abide by NAR's stringent Code of Ethics & Standards of Practice. Adherence to this Code of Ethics requires REALTORS® to maintain a trustworthy business and act as upstanding members of the community, furthering cooperation between clients' interests. Made up of several Articles and Standards of Practice, this Code of Ethics is also reviewed regularly by a governing body to ensure it's keeping up with the times and any potential emerging issues.
This Code of Ethics has become a gold standard across the industry, and agents must elevate these practices to maintain their status as a REALTOR®. While there are undoubtedly some great agents who are not part of the organization, you know a REALTOR® will be putting your needs first and will provide you with an elevated experience.
How Can I Get Real Estate Agent and REALTOR® Recommendations?
The best way to get top real estate recommendations is by using RealEstateAgents.com.
It can be difficult to find a real estate agent who will always prioritize your needs over closing the transaction. However every year, over 700k clients such as yourself, use the platform to find their ideal REALTOR® for their real estate journey; leading to over $2 billion in successful annual transaction volume.
By analyzing past transactions, agent & client behavior and market dynamics we can curate a custom real estate agent list specifically for you.
It only takes a minute to submit your request, the service is 100% free and our licensed customer service team is available to answer any questions you may have along the way. We’re committed to finding you the perfect agent!
Get connected with your perfect agent and begin screening real estate agents today!