3 Things To Know About Hiring A Real Estate Service
When you want to either sell or buy a new house, you have two choices; 1) you can either do it all on your own, or 2) you can hire a real estate agent to work with you. To help you weigh your options and really make an informed decision about exactly what is the right option for you, here are a few things to know about the real estate industry and hiring a real estate service to help you out.
1. You Pay a Percentage
No real estate service is free, which means that you will be required to sign with a real estate agent and then give them a percentage of your purchase or sell price. When you go to buy a new home, you will typically be responsible for the bulk of the closing costs which include things like taxes, realtor fees, and title fees. Depending on the state that you live in, you will be responsible to pay a percentage of the loan amount, which tends to range anywhere from about 5 to 6% of your overall loan amount. So, if you live in a state where realtors fees are 3% and you are buying a 350k home, then you will pay your realtor $10,500.
2. They Take Care of All Contracts
One of the best things about hiring a real estate service is that they will be responsible for taking care of any and all contracts which is great because real estate contracts can be really detailed and hard to cover on your own. Your Realtor should have contracts that have been reviewed by a real estate team, which means that you should know exactly what your contract entails and what is/isn't covered.
3. They Take Care of Business Negotiations
In addition to taking care of contracts for you, your real estate agent will also take care of all business negotiations regarding buying and selling your house. For instance, if you are buying a house and the sellers have a few other offers on the table, then your real estate agent will negotiate on your behalf (and with your approval) ways to get you the house and knock the other buyer's offers out of the park. In fact, you shouldn't ever have to have direct contact with a buyer or seller at any stage in the process.
To learn a little bit more about real estate services, reach out to a company in your area today.
Real estate purchases are big purchases. You may pay several hundred thousand dollars, or even more, for a property. As such, there's not a lot of room for error. If you buy a house that needs a lot of unexpected work or end up in over your head when it comes to the mortgage, your dream home can quickly turn into a nightmare house. We want to help you avoid scenarios like that, which is why we share so much information about real estate on this blog. Our readers emerge more informed on a wide array of topics, from buying to closing.