7 truths about buyer's real estate agent
Updated: Jun 25, 2020
Often in expats forums I see advices like "Why do you need a real estate agent when buying a house? Just hire a good lawyer and find the house yourself".
It's true that anyone can shop for a house, but unless you have time to make home shopping a part-time job, an agent might be able to match you with the perfect property much faster. And it’s not only about the time efficiency, good agent will do much more to save you money and a headache.
Let's look at some of the top benefits of using an agent to buy a home.
1. Hidden offers
The real estate agents have their internal databases and other ways to learn about offers that are not yet on the market. If you choose a zone where you’d like to buy a house the real estate agent could use the local marketing to find people who have not yet listed their house for sale but already thought about selling.
2. Legal check
The real estate agent will be able to check the property for any legal defects. Same check should undergo the seller himself as you would want to avoid getting into an important and expensive transaction with someone with shady past.
3. Technical control
The real estate agent will be able to identify trouble that you may not see, as well as recommend a good independent home inspector who will provide a detailed report on problems with the house. Correct evaluation of the potential investment into the property prior to purchase may save to the new owner thousands of dozens of Czech crowns.
4. Right pricing
Real estate agent uses his daily experience and various tools to estimate the real market price of the offered house. He’ll provide you the market analyses which will be a valuable base for the potential price discount negotiation. This will ensure you will not overpay for your purchase.
5. Professional negotiations
Most people do not negotiate home prices daily and would not know how to determine the motivation of the seller and what arguments to use to negotiate a better deal. Good real estate master such skills through lots of trainings and negotiation opportunities pretty much daily.
6. Dealing with charged atmosphere
Buying or selling a house is a very emotional procedure for most of the people as there is much on the line. The real estate agent has no emotional involvement into the transaction and deals with the charged atmosphere, too excited or upset parties with a cool head of a third party.
7. Paperwork and mediation
The most time consuming thing of all the transaction is to communicate with all the involved parties: buyer, seller, seller’s agent, mortgage specialist, technical control adviser, bank, lawyer, land registry office etc. All parties have their say into run of the transaction which should be reflected in all the necessary documents. The toughest part comes when the agreed terms are finishing but some papers from someone are still missing. Don’t forget that for each deadline meeting failure, there are penalties, so the communication may become very intense. And all this in the local language!
If you still believe that in order to buy a house it’s enough to hire a lawyer and you’re a professional negotiator with a construction background, cool nerves and fluent Czech, then my advice would be to find a lawyer with a real estate experience. For all the rest my recommendation is to hire a professional real estate agent and let him do his job while you’re doing yours.
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