The Top 5 Reasons You Need a Real Estate Agent when Buying a Home

You may have heard headlines in the news lately about agents in the real estate industry and discussions about their commissions.

And if you’re following along, it can be pretty confusing. But here’s the thing you really need to know – expert advice from a trusted real estate agent is priceless, now more than ever. And here’s why.

A real estate agent does a lot more than you may realize.

Your agent is the person who will guide you through every step when buying a home and look out for your best interests along the way. They smooth out a complex process and take away the bulk of the stress of what’s likely your largest purchase ever. And that’s exactly what you want and deserve.

This is at least a part of the reason why a recent survey from Bright MLS found an overwhelming majority of people agree an agent is a key part of the homebuying process (see visual below):

To give you a better idea of just a few of the top ways agents add value, check out this list.

1. Deliver Industry Experience

The right agent – the professional – will coach you through everything from start to finish. With professional training and expertise, agents know the ins and outs of the buying process. And in today’s complex market, the way real estate transactions are executed is constantly changing, so having the best advice on your side is essential.

2. Provide Expert Local Knowledge

In a world that’s powered by data, a great agent can clarify what it all means, separate fact from fiction, and help you understand how current market trends apply to your unique search. From how quickly homes are selling to the latest listings you don’t want to miss, they can explain what’s happening in your specific local market so you can make a confident decision.

3. Explain Pricing and Market Value

Agents help you understand the latest pricing trends in your area. What’s a home valued at in your market? What should you think about when you’re making an offer? Is this a house that might have issues you can’t see on the surface? No one wants to overpay, so having an expert who really gets true market value for individual neighborhoods is priceless. An offer that’s both fair and competitive in today’s housing market is essential, and a local expert knows how to help you hit the mark.

4. Review Contracts and Fine Print

In a fast-moving and heavily regulated process, agents help you make sense of the necessary disclosures and documents, so you know what you’re signing. Having a professional that’s trained to explain the details could make or break your transaction, and is certainly something you don’t want to try to figure out on your own.

5. Bring Negotiation Expertise

From offer to counteroffer and inspection to closing, there are a lot of stakeholders involved in a real estate transaction. Having someone on your side who knows you and the process makes a world of difference. An agent will advocate for you as they work with each party. It’s a big deal, and you need a partner at every turn to land the best possible outcome.

Bottom Line

Real estate agents are specialists, educators, and negotiators. They adjust to market changes and keep you informed. And keep in mind, every time you make a big decision in your life, especially a financial one, you need an expert on your side.

Expert advice from a trusted professional is priceless. Connect with a local real estate agent today. 

Read more at KeepingCurrentMatters.com

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Why You Want an Agent’s Advice for Your Move

No matter how you slice it, buying or selling a home is a big decision.

And when you’re going through any change in your life and you need some guidance, what do you do? You get advice from people who know what they’re talking about.

Moving is no exception. You need insights from the pros to help you feel confident in your decision. Freddie Mac explains it like this:

“As you set out to find the right home for your family, be sure to select experienced, trusted professionals who will help you make informed decisions and avoid pitfalls.”

And while perfect advice isn’t possible – not even from the experts, what you can get is the very best advice out there.

The Power of Expert Advice

For example, let’s say you need an attorney. You start off by finding an expert in the type of law required for your case. Once you do, they won’t immediately tell you how the case is going to end, or how the judge or jury will rule. But what a good attorney can do is walk you through the most effective strategies based on their experience and help you put a plan together. They’ll even use their knowledge to adjust that plan as new information becomes available.

The job of a real estate agent is similar. Just like you can’t find a lawyer to give you perfect advice, you won’t find a real estate professional who can either. That’s because it’s impossible to know everything that’s going to happen throughout your transaction. Their role is to give you the best advice they can.

To do that, an agent will draw on their experience, industry knowledge, and market data. They know the latest trends, the ins and outs of the homebuying and selling processes, and what’s worked for other people in the same situation as you.

With that expertise, a real estate advisor can anticipate what could happen next and work with you to put together a solid plan. Then, they’ll guide you through the process, helping you make decisions along the way. That’s the very definition of getting the best – not perfect – advice. And that’s the power of working with a real estate advisor.

Bottom Line

If you’re looking to buy or sell a home, you want an expert on your side to help you each step of the way. Connect with a real estate professional so you have advice you can count on.

Read more at KeepingCurrentMatters.com

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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A Real Estate Agent Helps Take the Fear Out of the Market

Do negative headlines and talk on social media have you feeling worried about the housing market?

Maybe you’ve even seen or heard something lately that scares you and makes you wonder if you should still buy or sell a home right now.

Regrettably, when news in the media isn’t easy to understand, it can make people feel scared and unsure. Similarly, negative talk on social media spreads fast and creates fear. As Jason Lewris, Co-Founder and Chief Data Officer at Parcl, says:

“In the absence of trustworthy, up-to-date information, real estate decisions are increasingly being driven by fear, uncertainty, and doubt.”

But it doesn’t have to be that way. Buying a home is a big decision, and it should be one you feel confident making. You should lean on a trusted real estate agent to help you separate fact from fiction and get the answers you need.

That agent will use their knowledge of what’s really happening with home prices, housing supply, expert forecasts, and more to give you the best possible advice. The National Association of Realtors (NAR) explains:

“. . . agents combat uncertainty and fear with a combination of historical perspective, training and facts.”

The right agent will help you figure out what’s going on at the national level and in your local area.

They’ll debunk headlines using data you can trust. Plus, they have in-depth knowledge of the industry and can provide context, so you know how current trends compare to the normal ebbs and flows in the housing market, historical data, and more.

Then, to make sure you have the full picture, an agent can tell you if your local area is following the national trend or if they’re seeing something different in your market. Together, you can use all that information to make the best possible decision.

After all, making a move is a potentially life-changing milestone. It should be something you feel ready for and excited about. And that’s where a trusted expert comes in.

Bottom Line

If you need reliable information about the housing market and expert advice about your own move, get in touch with a real estate agent in your area.

Learn more at Keepingcurrentmatters.com

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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Opinion: Why agents are more essential than ever

Affordability concerns mean agents are also educators.

Real estate agents play an undeniable and integral role in today’s housing market. Not just as facilitators of sales and rental transactions but also as educators to their current and future clients. Left to their own devices, most people — particularly renters — view the rental segment and the for-sale market as distinctly different and unrelated entities, with the latter one often perceived as being far out of reach. Rightfully so.

Affordability is a real issue in the United States. The median price for an existing single-family home was $410,200 in June 2023, according to the National Association of Realtors (NAR). That’s the second-highest since the association started tracking the data. This average price tag quickly jumps in popular states such as California, where it comes in at $744,280, and in Washington State, where a house costs on average $574,114, according to August data from Zillow.

Mortgage rates — which have been well above 7% and approaching 8% this week — are adding to the unaffordability of much of today’s housing stock. 

These market conditions in the for-sale segment have had a real and direct impact on the rental market as both are directly linked. An increasing number of people, especially many of the millions of millennials who are hitting their prime child-rearing years, are priced out of the market and forced to keep renting longer. The average age of first-time homeowners is now 36 with about 35% of the households in U.S. being renter-occupied.

This increasing demand has put further pressure on the rental stock, which has been experiencing severe supply and demand issues. The United States is currently as much as 6.8 million rental units short, with the gap between supply and demand widening every year, according to NAR data. This has driven up prices significantly. Typical asking rents in the U.S. average $2,052, a 3.3% climb as compared with the same time last year, according to Zillow’s data for August. In high-demand metros such as New York, it’s as high as $3,650.

One of the proposed measures to counter these increases and create more affordability for renters is the hotly debated topic of rent control, an idea that first came into existence in the 1920s. The Biden administration has pushed for a potential national-level rent control initiative while cities such as New York are particularly in the spotlight as landlords are pushing the Supreme Court to kill rent stabilization. 

As of 2022, seven states — California, New York, New Jersey, Maryland, Maine, Oregon and Minnesota — and the District of Columbia have localities in which some form of residential rent control is in effect. 

Rent control benefits some tenants with access to controlled rates, primarily older and long-term residents. But rent control has also shown overall mixed results. While intended to make housing more affordable, it can exacerbate issues by reducing investment and supply. Property owners, getting lower returns due to rent controls, often seek ways to convert their properties to other more profitable uses.

In places like California, laws allow owners to evict tenants for personal occupancy or to sell units as condos. Consequently, as the availability of rental properties decreases, market-wide rents increase due to the lower supply. Actions like these tend to favor higher-income individuals, inadvertently promoting gentrification, as observed in San Francisco, contradicting the original aims of rent control.

Ultimately, to create a better supply-demand balance in the U.S., facilitating new construction might be the best answer to the pressures in the rental segment and the affordability issues in this country. California is trying to do just that by making major affordable housing projects across the state easier to commence by exempting them from potential lawsuits filed under the California Environmental Quality Act, extensive public hearings and other forms of opposition from local governments. Easing restrictive zoning rules that can reduce the supply of land available for new housing would also be additive. 

There is some hope for more balance to come. Housing construction reached a 50-year high, with this year alone witnessing the completion of more than 460,000 units. Within the past three years, over a million new dwellings have been erected, marking a historic high. And this increase has had an almost immediate affect on renters who are taking advantage of the added choices. Those staying put and renewing their leases — often out of necessity — dropped to 60.5% during this year’s peak rental season compared with 63.6% last year. 

And that is where agents can step in, educate renters on their increased choices, explaining market dynamics and ultimately becoming educators and advocates as they navigate their housing journey.

Learn more at Housingwire.com

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If there is a home that you would like more information about, if you are considering selling a property, or if you have questions about the housing market in your neighborhood, please reach out. We’re here to help.

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