Changing Market Spotlights the Importance of Having a Real Estate Agent on Your Team

Whether you’ve decided to take the plunge and finally buy a house, or you’re ready to sell and move on to greener pastures, having an experienced real estate agent on your team is vitally important. 

But with all of the real estate apps available and “for sale by owner” sites these days, you might think realtors are a relic of the past. What can a realtor do that you can’t do yourself?

While it might seem like it’s easy to go it alone, having a qualified real estate broker will actually save you tons of time, money, and hassle in the long run. You deserve an expert in your corner for what might be the biggest financial decision you’ve ever made.

Here’s why it’s crucial to partner with a licensed real estate professional:

Familiarity with today’s volatile market

Housing prices in the Chicagoland area are relatively high and show no signs of plummeting anytime soon. In addition, consumers are also dealing with all of the considerations related to inflation and a possible recession

In the quest to save a few bucks, it seems to make sense to cut costs by eliminating the commission an agent receives to help you buy or sell a home. 

However, the opposite is actually true. For those who are searching for their dream home, a skilled real estate agent can be a lifesaver. Realtors have access to many more listings in your preferred area and price range than you can find on your run-of-the-mill real estate app.

Some potential buyers hunt for their perfect home for months, even years. It’s not unusual to look at literally hundreds or thousands of listings, especially if you have specific needs like a certain school district or mobility access. A pro can quickly sift through the chaff to find the houses that align with your must-have list so you don’t waste your time.

An agent with in-depth local knowledge can also steer you in the right direction when it comes to which neighborhoods are rising in value — and which ones to avoid, especially if you’re looking for rental or investment property as a hedge against inflation.  

Fiduciary duty

If you’re not familiar with the term “fiduciary duty,” it simply means that once you and an agent agree to work with one another, they are legally bound to put your best interests ahead of their own or their firm’s. 

Licensed realtors in the state of Illinois have to successfully complete a thorough course of training, and they must abide by the National Association of REALTORS® Code of Ethics and Standards of Practice.

Because they have your interests at heart, working with a top agent is invaluable when it comes to the crucial financial aspects of your real estate transactions, such as making an offer on a property you love or setting a realistic asking price based on research and market analysis.

Another fiduciary duty performed by a real estate agent is disclosure. If you’re the buyer, your agent must keep you informed of certain facts, such as:

  • Anything that might affect property values
  • How long the home has been for sale
  • Whether they have a conflict of interest with the seller or their agent
  • If the seller has indicated they’ll accept below asking price, or how urgently they need to sell the home
  • If the seller, or their agent, has shared that the home has received one or more offers already

For current homeowners seeking to sell their property, your agent is obligated to let you know the identity of anyone who’s made an offer, whether the agent has a pre-existing relationship with the buyer, and any other pertinent information that could affect your ability to get the highest price.

Negotiations and paperwork

With a competitively, or aggressively priced home, potential home buyers can expect to compete with several offers, particularly if the home is in a desirable location. And sellers will need to be equipped to extract the most value amongst a variety of offer configurations (there are a number of factors beyond price to consider, including the stability of the offer itself.) Bidding wars for the best properties are not that uncommon. 

Your agent is ready to get in there and battle on your behalf. Their expertise will ensure that your offer stands out among the crowd. They can also go head-to-head with the seller’s agent when it comes to negotiating things like needed repairs, contingencies, and more.

If you’re ready to sell and begin a new chapter in your life, your team will leverage their vast network to get your home ready to be put on the market. They know the most trusted contractors, interior designers, home inspectors, staging companies, pest control techs, and even photographers to make sure your house appeals to buyers in every way.

Property transactions require mountains of intricate paperwork. Your real estate team is intimately familiar with the ins and outs of contracts, surveys, appraisals, title reports, and mortgage documents. 

A top agent will work closely with real estate attorneys and title companies to make sure that everything is correct, legal, and ready to benefit you and your family. 

The value of partnership

More than anything else, working with a real estate team keeps you from making costly mistakes. 

Whether you’re ready to buy a forever home or cash out from your current property, you want to get the biggest bang for your buck. Experienced agents know the inside scoop and all of the tips and tricks for finding just the right deal. 

Why let money fall off the table when you could team up with Chicagoland’s largest family-owned real estate company? At Baird & Warner, we’ve been helping folks make their dreams come true for over 150 years. 
We offer a comprehensive spectrum of services for both prospective home buyers and sellers. Now is the perfect time to make a move — give us a call today!

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