If you are undertaking a major renovation on your home, you hire a general contractor. Renovations are complicated. Permits must be pulled, reliable sub-contractors hired, and a work schedule organized and executed. A general contractor is the project manager. They are accountable for all aspects of the project. They know local codes and ensure work is completed up to standard, on time, within budget, and according to plan. An experienced general contractor works with a team of licensed professionals who they can rely on. Homeowners who go the “do it yourself” route often end up paying more for supplies, materials, and labor, take a longer time to finish the project, and are often required to redo work that was not completed to code.
Buying or selling a home on your own can end with similar results. Real estate is a complicated business that has many steps, requires an understanding of local markets and laws, and necessitates hiring and coordinating a team of professionals to ensure the transaction is completed legally and with minimal risk. A real estate agent acts as a project manager, working with clients from beginning to end to protect their best interests and ensure a smooth transaction.
One of the primary assets an agent provides is market knowledge. Real estate agents have access to data, such as list-to-sold prices, true days on market, and property history that is not available online and is a strong indicator of market trends. An agent’s analysis of property values will include factors that national providers, such as “zestimates” do not entertain, such as proximity to busy streets, access to schools and transportation, and a home’s interior and exterior condition. At the Reishman Group we attend neighborhood meetings, research building permits, and build relationships with developers, so that we are aware of all factors that could affect a neighborhood’s future value.
An experienced real estate agent knows what buyers want and will help sellers maximize their investment by suggesting improvements with the highest return. (At the Reishman Group, we can often front the costs of improvements ) In addition, agents will set a listing price in line with the current market, so that a property does not sit and consequently decrease in value.
Real estate agents have an established network of professionals, necessary to complete a real estate transaction. A buyer will need to hire an appraiser, inspector, title company, and mortgage company. To prepare a house for sale a homeowner may need repair specialists, contractors, a storage facility, movers, etc. To market the property effectively sellers will need a property photographer, stager, floor plans, marketing brochures, social media ads, and someone to promote and run open houses. A real estate agent will connect clients with their trusted network to ensure the job is done effectively, on time and at a reasonable cost.
Finally, closing a real estate transaction is a complicated and detailed process that involves many parties. It requires exhaustive paperwork, including contracts, settlement statements, federal and state-mandated disclosures, etc. A real estate agent manages this process and ensures that all documents are completed, accurate and submitted on time.
If you are considering a real estate transaction, we would be happy to explain the many benefits our agency provides. Contact us today!