With so much information available online, clients sometimes ask "Why should I use a real estate consultant?" They wonder, and rightfully so, if they couldn't buy or sell a home through the Internet or through regular marketing and advertising channels without representation, without a real estate consultant. Some do OK, many don't. So if you've wondered the same thing, here are 11 reasons why you might want to consider using a professional real estate consultant.
1. Education & Experience
You don't need to know everything about buying and selling real estate if you hire a real estate professional who does. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. Why not hire a person with more education and experience in this matter than you? We're all looking for more precious time in our lives, and hiring professionals save us that time and time is money.
2. Selected buyers and selected houses
Pursuing the best deal possible, most of the buyers (corporate companies for example) always use a real estate consultant. Having your property listed by a real estate company ensures considerably more exposure, proper marketing, time saving and professional presentation. Your property will be visited only buy selected buyers after the consultant previously presented all the advantages and conditions.
3. Consultants are Buffers
Consultants take the spam out of your property showings and visits. If you're a buyer, the consultant will introduce you the best offers on the market corresponding to your request, saving you precious time. If you're a seller, your consultant will filter all those phone calls that lead to nowhere and try to induce interested and previously informed buyers to have an offer fast.
4. Neighborhood Knowledge
Consultants possess intimate knowledge of the area. Agents who know the area like the back of their hand tend to sell homes faster than those that are unfamiliar with the area of the home. They can identify comparable sales and hand these facts to you. For example, you may know that a home down the street was on the market for 350.000 euro but a consultant will know it had new finishes and sold at 285.000 euro after 4 months on the market and after two pre-contracts failed.
5. Price Guidance
Contrary to what some people believe, consultants do not select prices for sellers or buyers. However, a consultant will help to guide clients to make the right choices for themselves. If a fee of 3%, for example, a consultant has a 3% interest in the sale, but the client has a 97% interest. Consultants will ask buyers to weigh all the data supplied to them and to make an offer. Then based on market supply, demand and the conditions, the consultant will advise a negotiation strategy. With the sellers, the consultant can establish selling plan and decide where and how they will advertise the home. You want to have a very active consultant who will work with your home.
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6. Market Conditions Information
Real estate consultants can disclose market conditions, which will govern your selling or buying process. Many factors determine how you will proceed. Data such as the average per square meter cost of similar homes in the area, median and average sales prices, among other criteria, will have a huge bearing on what you ultimately decide to do.
7. Professional Networking
The real estate consultant network with other professionals, many of whom provide services that you will need to buy or sell. They do know which vendors have a reputation for efficiency, competency and competitive pricing. They can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection.
8. Negotiation Skills & Confidentiality
Top consultants negotiate well because, unlike most buyers and sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It's part of their job description. Good consultants are not messengers, delivering buyer's offers to sellers and vice versa. They are professionals who are trained to present their client's case in the best light and agree to hold client information confidential from competing interests.
9. Handling the Contract
The consultant can provide a draft contract, explain it and advise you on special clauses. The contract is signed for the people to remember what they agreed at a certain time.
10. Answer Questions After Closing
Many questions can pop up that were overlooked in the excitement of closing. Good consultants stand by ready to assist. Worthy and honest consultants don't leave you with unsolved issues.
11. Develop Relationships for Future Business
The basis for a consultant's success and continued career in real estate is referrals. Few consultants would survive if they would have to consistently build trust with new business clients. It also means that a consultant who stays in the business will be there for you when you need his services again. Many will periodically mail market updates to you to keep you informed and to stay in touch.