Hiring an estate agent can be a confusing and overwhelming process while buying, selling, or renting a property. Many questions might come to your mind such as what kind of agents would you need to hire? Where to find Estate agents in Buckingham? Should I hire only a local estate agent? How are they beneficial? The list seems to be endless.
So in today’s blog, we address these questions in a comprehensive way and find out who are estate agents and why using a local estate agent to sell property is beneficial.
Who is an estate agent?
An estate agent is a licensed professional whose job responsibility is to arrange various estate transactions, such as bringing buyers and sellers together while being a representative in the entire transaction and negotiations. The income of estate agents is usually dependent on the commission, which is a percentage of the purchase price of a property. Hence, the income of an estate agent is entirely based on their ability to close a deal. Estate agents are usually affiliated with an individual broker or a firm.
Why should you use a local estate agent to sell a property?
There are many reasons why you should hire a local estate agent. Here are some of the most important reasons that we have listed below.
They have knowledge of the locality and the surrounding areas:
Hiring a local estate agent for selling a property has the added advantage of knowing the locality at the back of their hand. They are passionate about the location and will know all the details in the area like schools, shops, transport, and any future development. Local estate agents are also very passionate and invested in the locality as they are aware of the lifestyle of the area. So they will be able to sell homes and pick up good deals very easily.
You will get the best possible price:
Since local estate agents have good knowledge of the local market and the selling trends, you will be able to get a good price for your property. They will compare homes for you by collecting and matching data points from the local suburbs so the information will be accurate. Remember that if you set an astronomical price for your property in comparison to the properties on sale in your neighbourhood, it will be a setback for you. So with a local estate agent, you get the best results when looking to sell a property.
They have a bigger database of potential buyers:
It is crucial for estate agents to have a pool of potential buyers. Real estate is largely based on networking with people and having multiple connections with homebuyers who are looking for a prospective property in the area. Local estate agents will go to open houses and find out what kind of property people are looking for. They will also gather information on buyers who have missed out on different local properties but are still on the lookout for a new property. By following this process they create a huge pool of resources and match up buyers and sellers based on the demand of each.
Greater availability to arrange an inspection:
Property viewings is an important part of the process of buying and selling any property. So if you are going local in terms of your estate agent, you can be assured that they will be able to meet up with you frequently for discussions. They will also meet prospective buyers and make appointments for viewings for people. But an agent who is out of the area might not be able to meet up to these expectations. They might only be able to turn up for one open house every week. Inspection requests might be turned down by them more often. Hence, estate agents who are local and can meet potential buyers upon their request are the best option when you want to sell your property.
They have a network of trusted local contractors:
The pool of resources that each local estate agent has is not limited to contacts of potential buyers and sellers. An estate agent will also have access to high-quality local industry experts who will ease the process of selling a home.
Conclusion:
The journey of finding an estate agent and selling your property takes time and effort. So if you were unable to decide on hiring an estate agent, this blog contains information on why a local estate agent is the best choice when you decide to sell any property.
