10 Reasons to Hire an Agent

With so much information readily available online, "Why should we hire a real estate agent?" They wonder, and rightfully so, if they couldn't rent in or rent out a property through the Internet or through regular marketing and advertising channels without representation, without a real estate agent. Some do OK, many don't. So if you've wondered the same thing, here are 10 reasons why you might want to consider hiring a professional real estate agent.

1. Education & Experience

You don't need to know everything about rent in and rent out property if you hire a real estate professional who does. Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. The trick is to find the right person. For the most part, they all cost about the same. Why not hire a person with more education and experience than you? We're all looking for more precious time in our lives, and hiring pros gives us that time.

2. Agents are Buffers

Agents take the spam out of your property showings and visits. If you're a seeker/tenant of new rentals, your agent will whip out her sword and keep the builder's agents, preventing them from biting or nipping at your heels. If you're a owner, your agent will filter all those phone calls that lead to nowhere from time wasters and try to induce serious seekers to immediately write an offer.

3. Neighborhood Knowledge

Agents either possess intimate knowledge or they know where to find the industry buzz about your neighborhood. They can identify comparable rentals and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics.

4. Price Guidance

Contrary to what some people believe, agents do not select prices for seekers or owners. However, an agent will help to guide clients to make the right choices for themselves. Owner agents will ask seekers to weigh all the data supplied to them and to choose a price. Then based on market supply, demand and the conditions, the agent will devise a negotiation strategy.

5. Market Conditions Information

Real estate agents can disclose market conditions, which will govern your renting process. Many factors determine how you will proceed. Data such as the average per square foot cost of similar properties, median and average rental prices, average days on market and ratios of list-to-rent prices, among other criteria, will have a huge bearing on what you ultimately decide to do.

6. Professional Networking

Real estate agents network with other professionals, many of whom provide services that you will need to rent in or rent out. Due to legal liability, many agents will hesitate to recommend a certain individual or company over another, but they do know which vendors have a reputation for efficiency, competency and competitive pricing. Agents can, however, give you a list of references with whom they have worked and provide background information to help you make a wise selection

7. Negotiation Skills & Confidentiality

Top producing agents negotiate well because, unlike most seeker and owners, they can remove themselves from the emotional aspects of the transaction and because they are skilled. It's part of their job description. Good agents are not messengers, delivering seeker's offers to owners and vice versa. They are professionals who are trained to present their client's case in the best light and agree to hold client information confidential from competing interests.

8. Handling Volumes of Paperwork

One-page deposit receipts were prevalent in the early 1970s. Today's rental / purchase agreements run 10 pages or more. Most real estate files average thicknesses from one to three inches of paper. One tiny mistake or omission could land you in court or cost you thousands. In some states, lawyers handle the disclosures, thank goodness!

9. Answer Questions After Closing

Even the smoothest transactions that close without complications can come back to haunt. Many questions can pop up that were overlooked in the excitement of closing. Good agents stand by ready to assist. Worthy and honest agents don't leave you in the dust to fend for yourself.

10. Develop Relationships for Future Business

The basis for an agent's success and continued career in real estate is referrals. Few agents would survive if their livelihood was dependent on consistently drumming up new business. This emphasis gives agents strong incentives to make certain clients are happy and satisfied. It also means that an agent who stays in the business will be there for you when you need to hire an agent again. Many will periodically mail market updates to you to keep you informed and to stay in touch.