1: Preventing closing problems
At the final hours before a sale closes, all kinds of pitfalls can ruin the deal. There is nothing worse than a real estate agent missing trouble before it’s too late. For example, there may be a long-lost relative listed on the title who hasn’t signed off on the sale. The lender may be causing problems by not meeting the financing deadline.
In the final days before closing, Mendenhall recommends that all professionals involved keep on task and stay on schedule to make sure there are no unexpected title issues. It is not uncommon for real estate agents to face challenges like these, and they are used to dealing with them.
2: Maintaining accurate records
Despite not being lawyers, real estate agents can still be helpful after a deal has been closed. A licensed agent may be required to keep complete records of all transaction documents for several years in some states.
In the event of a property problem in the future, you can rely on your agent to keep this information organised and protected. Should you have any questions about the property in the coming years, you can also contact your agent.
3: Expertise in coding
You need to know if the city will allow you to turn the front parlour of your charming little house into a candle store if you want to buy it near a business district. Real estate agents with experience are familiar enough with local zoning laws to protect you from buying the wrong house.Additionally, an agent should be able to verify that the city allows you to build a fence in the backyard or add a bedroom before you buy a property. When older properties are sold, some cities may require expensive upgrades. A real estate agent, for example, will disclose to the buyer the requirement to spend tens of thousands of dollars to connect a house to the city’s sewer system before the deal even moves forward.
4: Negotiating impersonally
Despite how levelheaded you think you are, it’s easy to lose your cool when you’re arguing with a seller over adding a hose to the dishwasher. It saves you the trouble of getting overly emotional about the deal if you have an agent write the requests objectively and forward them to the seller. Suppose the seller won’t budge on the dishwasher hose and you want to adjust your offer. That part can also be handled calmly by the agent. In difficult negotiations, experts recommend letting your agent handle the situation.
To make a deal, look for the positive aspects of every offer and counteroffer, and never show your sour face to the other side. You should often present the face of the company doing business, not your own.
5: Phenomenon of the “Purple Room”
Besides the technical aspects of a sale, real estate agents know neighbourhoods and houses inside and out. Marshall calls this the “purple room” phenomenon. An experienced real estate agent will know which houses are for sale that have purple rooms, if a buyer wants a house with a purple room.
In general, agents will be familiar with features that aren’t displayed well on the Internet.In general, agents will be familiar with features that aren’t displayed well on the Internet. The chances of finding a house that has a space for an office, an attached mother-in-law unit or a room perfect for showing off a prized grandfather clock are higher with a human agent than with a real estate website.
