This BLOG On Benefits Of Hiring Real Estate Agent When Buying Or Selling Home Was UPDATED On October 21st, 2019
There are thousands of professional realtors in Illinois and I truly do respect the job that they do in assisting buyers and sellers.
- Hiring realtors to represent a home buyer and/or home seller is optional
- Many home sellers believe that there are no Benefits Of Hiring Real Estate Agent and that they can sell the home themselves
- Many home buyers also feel there are no Benefits Of Hiring Real Estate Agent
- They feel they can get a better deal if they just deal with the listing agent and/or home seller
- Realtors normally charge 6% commission of the sales price
- This realtor commission is paid for by home sellers
- Both the home buyers agent and listing agent splits the commission paid by the seller
- There are huge Benefits Of Hiring Real Estate Agent when buying or selling home
In this article, we will cover and discuss the benefits of hiring real estate agent when buying or selling a house.
Benefits Of Hiring Real Estate Agent And Realtors Role
Real Estate Agents are licensed professionals who are experts in helping their clients buy and sell homes.
- Agents are familiar with the types of properties and values in the area they represent
Realtors can help home buyers narrow their property search based on what home buyers expect:
- Square Footage
- School District
- Number Of Bedrooms
- Lot Size
- Distance To Shopping And Highway
- Every realtor has their own way of doing business
Some big name realtors have several licensed assistants where their assistants do their work while the head honcho markets new business.
Benefits Of Hiring Real Estate Agent On Home Purchase
There are other realtors who just specialize in specialty homes. Some agents are specialists in the following:
- Luxury homes
- Condotels and Non-Warrantable Condos
- Vacation homes
- Multiple Family Properties
Pricing Homes Right For Faster Sale
Most realtors do not want to handle lower priced homes.
- They usually want to shy away from a home buyer who has less than perfect credit
- However, there are many fine professional agents who like working with home buyers
- Especially first time home buyers, who have less than perfect credit
Many professional agents have co-branding/partnership relationships with loan officers.
Real Estate Relationships And Referal Partners
Gustan Cho Associates has countless of realtor relationships nationwide. We work very closely with our realtor partners in helping their clients qualify for mortgages.
- Fortunately, our team of loan officers work with very hard working real estate agents in multiple states
- We have a database of veteran experienced real estate agents nationwide who goes above and beyond in taking care of their buyers and sellers like if they were their own family members
The thing that really touches my heart is when our borrowers tells us how much they appreciative the realtors we recommend them in their home buying process.
My Experience With A True Professional Who Truly Cares
Realtors contact us because of our national reputation in being a direct lender with no overlays on government and conventional loans.
- Over 75% of our borrowers at Gustan Cho Associates are folks who either gotten a last minute mortgage loan denial or are stressing during their mortgage process
- We close 100% of all of our loans because all of our pre-approvals are full credit TBD Property Underwriting Approvals and is fully underwritten and signed off by our mortgage underwriters
The main and number one reason why there is a last minute mortgage denial and/or stress during the mortgage process is because the loan officer did not properly qualify a borrower. There is no reason why any borrower should get a mortgage denial or stress during the mortgage process.
Case Scenario Where Buyer’s Real Estate Agent Saved A Deal
A real estate agent recently explained to me that she had a client who needs to be pre-approved:
- But had a hard time getting approved from her other lender partners
- Her clients were first time home buyers and the purchase price was only $119,000
- However, due to the husband’s recent bankruptcy filing the wife was the only borrower that could be on the loan
- She only had limited work history and limited income as well as high debt to income ratios
- The agent has frantically looked for a lender with no overlays for her client for the past 8 months
- Finally got referred to me
- We had a very nice conversation two months ago and I agreed to take on the deal
- Long story short, we ended up closing the loan
The agent was the quarterback in this home purchase transaction. Her buyers would have given up on the home purchase but the agent went above and beyond and found us, where we have no overlays on FHA Loans.
Not All Realtors Are Created Equal
Most of our loan officers often get countless of compliments by our borrowers on the gratitude they have towards their real estate agents.
- Often, our borrowers tell our loan officers how hard their realtors work
- Many times, real estate agents are hands on
- There are many who specialize in helping home buyers with bad credit or other issues where getting a mortgage is often difficult
- There are many agents who work late evenings and weekends
- Many realtors are experts with working with first time home buyers where they are scared and have many questions
Gustan Cho Associates Mortgage Group has a database of preferred real estate agents nationwide who can help qualified home buyers.
In Conclusion On Benefits Of Hiring Real Estate Agent
There are countless of benefits of hiring real estate agent on home purchase or when selling home. Loan officers and real estate agents work together prior and during the mortgage process. Real Estate Agents help home buyers negotiate the purchase price. They also will request the right amount of sellers concessions so the home buyers do not have to come up with any closing costs. If something comes up during the home inspection, agents can re-negotiate the terms and/or price and re-do the real estate purchase contract. Real Estate Agents have their client’s best interest in mind. Due to the many reasons, the Benefits Of Hiring Real Estate Agent is highly recommend for both buyers and sellers.