1. Agents are bound by law to act in their clients’ best interest (1. Struyk). In Michigan we have what is called an Agency Disclosure Agreement, which clearly states the person who the agent is representing.
2. Make more money, and save more time. According to a graphic in an article by economist Amanda Riggs, agent-assisted homes sold on average for 250,000 and all FSBO (For Sale By Owner) homes’ median sale price was 190,000 (2. Riggs). It seems logical that one would typically get more value from utilizing professional services of one who makes it their business to help people in real estate.
3. Their reputation depends on it. Real estate professionals are required to pass a real estate exam and continue to educate themselves further every year. If they make a mistake, they are held accountable and could potentially lose their license or spend time in jail if they do not live up the real estate code. If they are not concerned about the integrity of the profession, they should be concerned about losing their license. It is in their best interest to do the best they can for you.
4. Market trends and research are available through your agent. Any agent using the Multiple Listing Service or MLS has access to real-time information. It isn’t free and it isn’t public in real-time for non-real estate agents. Your searches and comparisons are much more likely to be accurate with the resources your real estate agent can provide.
5. A real estate professional will handle the paperwork. When making a real estate transaction, it is hard enough to find all the documents that were supposed to be on file, let alone locating ones like Seller’s Disclosure form or a Lead Paint Disclosure form. An agent cannot fill out the forms for you but can provide insight as to what you are filling out and why. They will also be able help explain the process as it is being carried out. A full cash offer might be handled differently then a HUD transaction. There are many variables that can change the speed and/or depth of the transaction.
Purchasing a home is a process, not an event. It is easy to get carried away because turning a house into your home is a big moment. It is worth sharing that moment with someone who always has your best interest in mind, like a real estate professional. #realestateinvestment #realtor #realestateprofessional
1.Tara, Struyk as seen on 10-31-18, posted on 5-25-10, https://www.forbes.com/2010/05/25/why-you-need-real-estate-agent-personal-finance-commission.html#4cc0091d4496
2. Amanda Riggs found on 10-31-18 posted 7-9-18, http://economistsoutlook.blogs.realtor.org/2018/07/09/selling-your-home-solo-to-save-money-youll-actually-make-less-than-you-think-2/
3. Cathie Ericson found on 10-31-18, posted on 8-8-2017, https://www.realtor.com/advice/sell/why-fsbo-sales-fail/
Ben & Jamie Anderson Realtors 