Whether you’re buying or selling a home, having a real estate professional who can take care of the heavy lifting is invaluable.
If you are buying a home, a real estate agent can help you navigate a competitive market like Downey, CA stress-free. As a seller, having an agent by your side ensures you have the resources to sell your property swiftly and at the best possible price.
This guide will delve deeper into the importance of hiring a real estate agent, the different benefits for buyers and sellers, and how to choose the right professional for your specific goals. Let’s get into it!
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Why work with real estate agents in Downey, CA
From finding the perfect property and negotiating for the best price to completing all the necessary paperwork, a real estate agent does it all. Working with a local Realtor means partnering with an expert who champions your interests, understands the market, and possesses an arsenal of resources to get the job done effectively.
Downey is one of California’s best-kept secrets, but its real estate market remains competitive. In May 2023, properties only lasted on the market for around 30 days.
With this in mind, it’s worth consulting with a real estate professional who knows the ins and outs of Downey. If you’re a buyer, they can help you skillfully navigate the crowded market, prepare for bidding wars, and quickly close a sale. And if you’re selling a home, you can glean valuable market insights from an agent. You can benefit from their negotiation skills, wide network of other real estate professionals, and most importantly, expertise when it comes to pricing a home correctly.
Benefits of working with a real estate agent as a buyer
Real estate agents have local market knowledge
Real estate professionals have a deep understanding of local market trends and neighborhood specifics. This knowledge is invaluable when it comes to finding the exact kind of property you want.
Real estate agents in Downey will have intimate knowledge of properties on sale. If you have a specific property with certain features in mind, an agent will use multiple channels to find the home that checks off every box on your list.
Agents also have access to private listings that aren’t on the Multiple Listing Server (MLS). These are called word-of-mouth listings where the seller only discloses their sale to other agents. As a buyer, exploring a private listing means avoiding potential bidding wars, which can drive up the price of a home.
They advocate for you during the negotiation process
Oftentimes, the negotiation process can be complex and difficult, especially if the real estate market is particularly competitive. Real estate agents are pro negotiators who can help you get an excellent deal for the property you’re eyeing. They act as your advocate, ensuring that your best interests are represented.
If you attempt to buy a house on your own, you may be at a disadvantage. Let’s say you fall in love with a property and decide to make an offer directly to the seller. In your excitement, you offer the full asking price, unaware of other factors that could influence the terms. Without an agent to negotiate on your behalf, the seller may be less inclined to consider your requests for contingencies or repairs. This can result in unfavorable terms that could have been avoided with the guidance of a real estate professional.
They save you valuable time and effort
Buying a home is more than just looking at listings and open houses. It also involves extensive market research, coordinating with sellers and their agents, lots of paperwork, and negotiations on top of it all. These steps take time, effort, and expertise.
Working with a real estate agent allows you to focus on your daily responsibilities while they handle most of the crucial transactions. With an agent doing the heavy lifting, you won’t have to worry about missing an important detail in your forms or forgetting a meeting with the seller.
Having an agent is especially helpful if you’re moving or selling your current home. Instead of getting caught up in the intricacies of buying a home, you can dedicate your time and attention to packing, organizing, and ensuring a smooth transition from one house to another.
They handle all the paperwork
Many first-time buyers will be surprised to know that buying a home involves complex legal paperwork. Real estate agents often have to handle dozens of reports, forms, and disclosures, most of which can sound like technical gibberish to those who are unfamiliar.
Real estate agents will ensure that everything is completed accurately and in compliance with legal requirements. Their attention to detail helps prevent costly mistakes that could potentially delay or jeopardize the home buying process. By hiring an agent, you’re protecting your interests and sparing yourself a potential headache.
They can identify red flags in a home
No matter how many houses you may have looked at in the past, it can’t compare to the knowledge and familiarity that agents have gained through their regular exposure to properties in the area.
Seasoned agents possess a keen eye for detail when evaluating a house, allowing them to spot red flags pretty quickly. This includes things like structural issues, potential mold concerns, and pest issues. Agents also know the right questions to ask a seller, such as a home’s history of repairs, leaks, and the age of appliances like the heating/cooling unit. They’ll also ask things like how many offers the seller has had, what the neighborhood lifestyle is like, and whether the area is close to hospitals, grocery stores, and schools.
They have up-to-date home buying knowledge
Most people will only buy a few homes in their lifetime, with a few years in between each transaction. Even if this is your second or third time buying a house, certain laws and regulations may have changed since the last time you bought a home. It’s the responsibility of the real estate professional to stay updated on any changes in the homebuying process and requirements.
They make home-buying enjoyable and provide objective support
With so many moving parts involved, buying a home is no easy feat. The task can be infinitely more demanding for first-time buyers attempting to purchase a property on their own. If you’re not equipped to handle the work involved, you may wind up exhausted and overwhelmed, detracting from the excitement of buying a home. By hiring an agent, you’re entrusting the hard work to a professional, ensuring an enjoyable experience from start to finish.
Similarly, a real estate agent can provide objective advice when it comes to looking for homes. It’s not unusual for shoppers to become attached to a home that may be out of their budget. An agent will keep you on track, steering you in the right direction so you avoid making emotionally charged or impulsive decisions that can cost you in the long run.
Benefits of working with a real estate agent as a seller
A real estate agent ensures competitive pricing
There’s a fine line that sellers need to tread when it comes to pricing their property. Missteps in either direction can lead to undesirable outcomes — if you set the bar too high, you risk scaring off potential buyers. Houses that are overpriced tend to sit on the market for longer, which can lead buyers to think there’s something wrong with your property.
On the flip side, if you undervalue your house, you could lose out on potential earnings. While a lower price might attract more buyers, it could leave you feeling short-changed in the end. Some sellers are tempted to underprice, relying on the chance of a bidding war to drive up sales, but this is not a guaranteed outcome.
Enlisting the services of real estate agents in Downey means you can set the right price for your home from the get-go. Their expertise in price evaluation and negotiation will guarantee you set a competitive price that attracts buyers, while ensuring you get the most from your sale. Agents also understand the psychology of the market, allowing them to make crucial decisions based on in-depth knowledge and analysis.
They have hyper-local expertise
Real estate agents bring hyper-local market expertise to the table – valuable information that agents have gathered from years of experience in their field.
They have an in-depth understanding of the local market conditions, including recent sales data, pricing trends, and neighborhood dynamics that allows them to accurately assess the value of your property. This information also gives them insight into the unique features and selling points of your home, enabling them to market it effectively and to the right audience.
If you’ve lived in your neighborhood for a long time, you may be tempted to forego the help of a real estate professional. However, real estate agents are not only familiar with the area; they have facilitated dozens, if not hundreds, of transactions within the community. This gives them specialized knowledge on what buyers want in a home and how sellers can market their property.
They have access to a wide network of buyers and agents
Real estate agents have an extensive network of buyers, agents, and industry professionals. They can tap into this network to promote your property and connect with potential buyers who may be interested in your home. They also collaborate with other agents, which can result in increased exposure and a higher likelihood of finding qualified buyers quickly.
What’s more, agents actively market your home through multiple online and offline channels. Connections play a significant role in selling a home, and an agent’s wide reach is invaluable.
They possess insight into the needs and wants of buyers
As professionals, it’s the job of the real estate agent to know what buyers are looking for. Most agents possess a keen understanding of what buyers want in a home, keeping their finger on the pulse of current market trends, buyer preferences, and evolving demands. This enables them to tailor their marketing approach to resonate with the target audience.
They have professional contacts in the marketing world
An agent’s network of professionals, including photographers, home stagers, and inspectors, can be leveraged to elevate your marketing efforts. You no longer have to spend time asking friends for recommendations or sifting through reviews online. Instead, you can simply ask your agent.
If you want professional photos of your home, they probably know a team of photographers who can get the job done. Looking for an experienced stager that can make your property appealing to a wide range of buyers? Your agent will be able to point you in the right direction. If you’re aiming to have a virtual tour for your house, your agent has contacts who can help accomplish your vision.
They have negotiating expertise
Real estate practitioners have a deep understanding of market dynamics and can leverage this knowledge during price negotiations, inspection requests, and other contingencies. What’s more, they’re experts at managing buyer inquiries, handling counteroffers, and resolving potential conflicts that may arise during the negotiation process.
In the same way that a buyer’s agent will advocate for their client, a seller’s agent will advocate for you, helping protect your financial interests at the negotiating table. With an agent by your side, you’ll have the peace of mind knowing that you won’t get the short end of the stick when the contract is being drafted and finalized.
They help you make objective decisions
You may be shocked to find that selling a home can be an emotional process. After all, you’re not just letting go of a piece of property – you’re saying goodbye to a home filled with cherished memories. It’s possible that the home holds sentimental value for you. This may get in the way of accurately pricing your home. A real estate agent acts as an objective party that can price your home based on real-world data.
Similarly, when buyers start coming in, it’s common for sellers to be affected by criticisms of their property. Some buyers may not like the backyard or find the bedrooms too small. In any case, having a real estate agent by your side will help you remain objective when dealing with potential customers. They can also help you make counter-offers while remaining level-headed.
How to find the right real estate agent
With so much on the line, finding the right real estate agent is crucial. You want someone who has a good track record, positive client reviews, and intimate knowledge of the neighborhood you’re buying or selling in. You’ll also want to hire someone you feel comfortable communicating with on a regular basis. Here’s what you can do to ensure that your real estate agent is a good fit for your goals:
Ask family and friends for recommendations
Know a close friend or family member who lives locally and recently sold or bought a house? It’s worth asking them for recommendations. If they had a wonderful experience with their real estate agent, then you’ll have a good starting point for your search.
Scour the internet for leads
If you prefer having multiple options to compare at once, then consider taking a look at online real estate agent databases. This is a quick way to get crucial information such as the agent’s track record, history of home sales, and client testimonials in just a few minutes. You can also check the agent’s website if available. A real estate agent’s website typically highlights past real estate transactions, current listings, and services they offer.
Interview several real estate agents
By having at least three options to consider, you can compare different qualifications, communication styles, and approach to ensure a strong fit. This not only reduces the chance of buyer’s remorse but also increases the likelihood of finding an agent who truly understands your needs and can navigate the complexities of the real estate market on your behalf.
Make sure you’re asking the right questions
Interviewing multiple agents is futile if you don’t ask the right questions. Apart from commission fees and references, there are plenty of ways to assess whether the agent is trustworthy.
For buyers, consider inquiring about:
- The agent’s track record in finding listings
- How they plan to help you find a home in a competitive market
- How long they have worked in the area
For sellers, you might want to ask about:
- The agent’s track record in selling homes
- How long it took for them to sell their last property
- Their usual marketing process and how they plan to market your home
- Information about the local market, such as prices of comparable properties
Work with the best real estate agents in Downey with 24 hour real estate
Buying or selling a home shouldn’t be stressful. With our team of experts at 24 Hour Real Estate, you’re in good hands. Under the leadership of Realtor and Broker Associate Michael Berdelis, we’ve helped countless buyers and sellers achieve their goals. And with more than 1,500 property sales under our name, 24 Hour Real Estate is proud to be the #1 Team in the Downey area.
Get in touch with us at 562.818.6111 or reach out online by filling out this form. We look forward to working with you!