Buying a home is one of the largest financial investments you will ever make. Like other large investments, it makes sense to have an expert that is looking after your best interests. Because of the complexity of real estate transactions, a rising number of home buyers are using realtors. In 2013, about 88% of home buyers nationally purchased their home through a real estate broker. That’s up from 69% in 2001, according to the National Association of REALTORS®.
You want to use a realtor because they know the process and they wear multiple hats. As your client advocate, your Realtor is your market expert and master negotiator in one. They don’t just sell homes. Realtors also act as your marketing director, social media manager and data analyst all in one.
If you’re a seller, your realtor is an expert at weeding out lookers and dreamers from qualified buyers – saving you valuable time. As a real estate professional, they are required to take continuing education classes to maintain their license with the New Mexico Real Estate Commission (NMREC).
In addition to their licensing requirements, realtors also have to go through additional Code of Ethics training and have to have access to the MLS through the Greater Albuquerque Association of REALTORS® (GAAR). This ensures your realtor is knowledgeable and upto-date on ever-changing industry rules, regulations, financial processes, and market trends. For instance, your realtor may advise you to take a home equity line of credit (HELOC) before listing to make necessary repairs—because once the property is listed, a bank will not lend on that property.
If you are a buyer, your realtor can direct you to the best financing options for your situation, and can ensure you’re properly prepared for buying a home. For example, your realtor might advise you not to buy a car before starting or closing on a home purchase, because such a big ticket purchase would change their debt-to-income ratios and might disqualify them for a home loan.
Professional connections are a key reason to use a realtor.
Realtors know the best contractors for all types of home services. They are the link between you and all things real estate.
They are also your unbiased voice of reason and proved an objective set of eyes in the transaction. Look at them as your real estate therapist.
For sellers, realtors see outside their personal, emotional connection to a property. And for buyers, they can help you stay calm when faced with a multiple-bid situation.
Because they go through the home buying and selling process daily, your realtor can warn you of potential dangers and looming changes. For buyers, your realtor can help you save money. And when you sell your home, your realtor can help you make the most from the sale of your property.
Basically, you want to use a realtor because they stay focused on you. Showing properties and writing offers are only a small percentage of what a realtor does for you. For a realtor, no two days are alike because no two transactions are the same.