If you’re looking to buy or sell property, Trophy Point Realty Group can help. They’re real estate agents who belong to the National Association of Realtors (NAR).
It’s common for a Realtor to represent buyers and sellers in the same transaction. This is called dual agency.
If you’re buying or selling a home, Realtors can help you navigate the complicated transaction. They have access to a wide range of property listings through the multiple listing service (MLS) and can save you time by scouring these to find homes that match your criteria. They can also connect you with home appraisers and inspectors, and provide advice on negotiating offers, contracts and closing costs.
For home sellers, they can set the list price by assessing how much comparable properties have sold for in the area, suggest home updates to boost value and help buyers visualize living in the house. They can also help you with the sales process by introducing you to potential buyers and setting up showings. Finally, they can coordinate with the title company and other professionals involved in the transaction to speed things up.
Buying a home can be an emotional process, especially if it’s your first time. Realtors are trained to listen and can help you stay objective during a stressful process. They can also help you determine your budget and explain different loan options and mortgages. If a deal falls through, they can help you understand your options and negotiate with the seller or their agent to reach a resolution.
A Realtor is a licensed professional who has a fiduciary responsibility to put their clients’ interests ahead of their own. They are bound by a code of ethics and must carry insurance in case something goes wrong during the transaction. They can also help you with the legal aspects of the sale, including preparing and filing required paperwork.
Buyers’ Realtors can expand your search, find properties you didn’t know about and alert you to listings before they hit the MLS. They can also assist with vetting buyers by checking preapproval and asking for proof of funds, as well as helping to arrange home appraisals and inspections. If a problem arises during the sale, they can negotiate with the seller to find an acceptable solution or even get your earnest money back if you’re not satisfied.
They Help You Find a Home
Real estate agents who are members of the National Association of Realtors (NAR) have access to a wealth of training and tools that can help them provide a more professional experience than a non-member. In addition, NAR has a Code of Ethics that cranks up the fiduciary responsibilities owed by real estate professionals to their clients and customers to an even higher standard.
A Realtor can find a home that meets your needs and budget. They can take into consideration things like your preferred location, accessibility to public transportation, whether you want a swimming pool or not, and how the neighborhood is evolving. They can also assess home prices in your area to know what is a reasonable asking price.
If you are buying a new home, they can help you get preapproved for a mortgage and work with the seller’s agent to negotiate on your behalf. They can also assist with scheduling reputable home inspectors and appraisals to help you make a smart decision about your investment.
Realtors can also help people who are renting properties. They can assess property values in a given area to determine what rent it should command, and they can help with the screening of potential tenants and preparing and filing necessary documents.
They can also help people who are moving to a new city or state and recommend schools, daycares, entertainment, grocery stores, restaurants and anything else that might be of interest. A good Realtor can make the process of finding a place to live much less stressful.
In some cases, the same person can act as both a buyer’s and seller’s agent for the same transaction. This is usually done to keep all parties informed of everything that is happening in the transaction. However, this can be complicated, so it is important to discuss it with your Realtor before handing over any confidential information. Your Realtor should be honest and up-front about any conflicts of interest that may arise from working on both sides of a deal. If they aren’t, you should consider working with another agent.
They Help You Negotiate
During the real estate buying and selling process, negotiations are a critical part of the overall deal. Whether they are helping buyers get the best price on a property or negotiating terms for sellers, Realtors help their clients come to an agreement that is satisfactory to all parties involved. Real estate agents who have strong negotiating skills are better equipped to get deals closed quickly and efficiently.
Identifying your client’s goals and objectives is the first step in real estate negotiating. Your clients may be interested in getting the most money possible, but they also may have other priorities that should be factored into your negotiating strategy. For example, if your client is upgrading to a bigger house and the new home will be their primary residence, then getting top dollar for their current property might not be as important as other features of the transaction like a quick turnaround time or favorable financing terms.
You can help your clients achieve their objectives by creating a spreadsheet that tracks key factors such as offered prices, deposit amounts, desired closing dates and inspection and financing contingencies for each offer. Then, prioritize the strongest offers and encourage your client to increase their offer if necessary to match or exceed the highest bids.
It is important to remain calm throughout the negotiation process. This will allow you to listen attentively and provide counterproposals that are supported by facts, rather than emotions. It is also a good idea to keep your tone of voice and body language even and friendly to foster an atmosphere of collaboration, rather than confrontation.
RENE-certified real estate professionals are trained to understand what motivates buyers and sellers in a negotiation. This helps them bridge the gap between their expectations and requirements, resulting in positive outcomes for both sides. They are also skilled at using negotiation tactics that are proven to work, such as setting a bottom dollar amount and refusing to budge from it under any circumstances, encouraging the other party to do the same. This allows buyers to negotiate more successfully with sellers and avoid costly pitfalls.
They Help You Close a Deal
A good real estate agent knows the local market well and understands how home sales work. They will help you set realistic expectations and negotiate on your behalf. A good Realtor will also have a certain air of confidence; this is not to be mistaken for cockiness, but rather an indication that they are confident they can get the job done and close the sale. This confidence is key to overcoming buyer’s doubts and getting the deal closed.
Closings aren’t always smooth sailing; there are often issues that arise that can stall the process. It’s important for a Realtor to be aware of these issues and to have a strong working relationship with lenders, appraisers, inspectors and other parties involved in the closing. This will minimize any unforeseen delays that could potentially derail the transaction.
It is also the Realtor’s responsibility to keep up with changes in the mortgage market and to stay abreast of any new laws that may impact a sale. Having an updated knowledge of the current mortgage market will allow the Realtor to advise clients on financing options, and to assist them in choosing the right loan program for their particular situation.
Finally, the Realtor will also be a liaison between the buyer and seller; helping to resolve any differences that may arise during the sales process. This can include disagreements about the price of a property, inspection findings or other conditions that must be met before the sale can proceed.
When looking for a Realtor, it is important to ask potential agents questions about their experience and the types of properties they specialize in. It is also a good idea to request references from previous clients and to review online reviews on multiple platforms. NerdWallet suggests asking candidates how long they have been a Realtor and whether they work full or part-time; if they have any specialties; and what their average selling time is. It is also a good idea to find out what the commission rate is. If the commission rate is too high, it will have a direct impact on the amount of money you can expect to receive from the sale.