Although buying or selling a house might seem straightforward, even seasoned homeowners could face pitfalls. A real estate agent plays an essential role in the transaction, and you could have many problems if you don’t hire one. The consequences range from minor process issues to expensive mishaps.
3 Hazards of Not Hiring a Real Estate Agent
1. Setting or Paying the Wrong Price
Whether you’re buying or selling, it’s important to work with a competitive price that fits your budget and maximizes your return. It’s easy for a buyer who’s unfamiliar with the process to miss negotiating opportunities and pay too much. Sellers might list their home for a price that’s so low it limits their profit or so high it attracts little interest from house hunters. A real estate agent provides detailed insight into pricing based on market research to position you to get the best deal.
2. Getting Lost in Paperwork
Real estate transactions require extensive paperwork, and even finding the documents can be confusing. During a purchase or sale, missing paperwork can delay the closing or affect loan approval. You must file some forms with the courts, and failing to do so could result in legal problems. By hiring a real estate agent, you can leave the paperwork to an expert, knowing they will handle everything correctly.
3. Inheriting Hidden Issues
When you buy a home, you don’t want to inherit unaddressed hazards like a weak foundation or faulty wiring. These issues can be expensive and time-consuming to fix. A real estate agent will recommend an experienced home inspector to detect problems and use the information to negotiate repairs or a lower sales price.
The Tocco Group offers extensive real estate services throughout the New York City area, including leasing, buying, and selling assistance. Their team helps clients find the best deals, maximizing their budget and the property’s investment quality. Call (212) 544-2995 to speak with a real estate consultant and visit their website for more information about their services, including property management and real estate marketing. Like them on Facebook for more industry insight from their agents.