What Can Your Real Estate Agent Do For You?
Real estate agents are integral to the smooth running of the real estate business. You may not know, but these professionals have a lot to offer to every stakeholder in the industry, especially investors. Read on to learn about 10 things your real estate agent can do for an investor like you.
1. Assist with getting a mortgage.
Finding the right mortgage can be tricky, especially for new investors. Fortunately, your agent is formally trained to help in this regard. They will not only find you the right lender but also help you navigate the entire application process.
2. Help you to find the best properties.
The right property must tick a couple of boxes – the perfect location, the price, the appreciation potential, and personal preferences. Your real estate agent will factor in all these to provide you with properties that meet your expectations without offsetting your budget.
3. Assist with negotiations.
It is common for investors to under-offer or over-offer when buying a property. This is a problem that stems from the inability of the investor to negotiate the right price. Real estate agents are trained to negotiate on behalf of investors, and they do this really well.
4. Prepare an adequate offer.
After a successful negotiation comes offer presentation. With an agent by your side, you can present the perfect offer that reflects your interest and the seller’s.
5. Go with you on inspection.
You may not know the right questions to ask about a potential property during an inspection, but your agent knows. This is why they attend inspections with you better to assess the conditions of the property before payment.
6. Negotiate home inspection repair requests.
Did you discover some issues during the inspection? Your agent can help you to assess the repair costs and factor the same into a new offer. This is to ensure you do not bear the burden of these repairs.
7. Make sound recommendations.
You will need a couple of professionals to work with you as a real estate investor. But as the popular saying – “it takes a good cop to recognize another,” your agent is better positioned to recommend the right lenders, contractors, home inspectors, and other real estate professionals that can deliver the kind of stellar performance that you need.
8. Communicate with the agent of the seller.
The best way to stay on the same page with the seller in the course of the negotiation is to ensure adequate communication. Your agent can do this on your behalf, reaching out as expected to the seller via their agent.
9. Keep track of your mortgage commitment.
Are you the type that has many things going for you at once? If yes, you may struggle to keep up with your mortgage commitment. Your real estate agent can handle this for you. From monitoring the status of the mortgage to telling you what to do and when to do it, an agent can help to fast-track the finalization of your home loan.
10. Guide you through the escrow and closing process.
Escrow is a crucial stage of real estate negotiation. You do not want to get caught in the several activities that come with this stage. To be on the safe side, trust your agent to streamline the process and keep you in the loop.