Do You Need To Hire A Real Estate Agent For Any Kind Of Properties According To Nick Statman

In any case, buyers or sellers might feel confused about whether they really need a real estate agent to complete the transaction or if they can do it themselves. According to Nick Statman, for some reason, this is true. When it comes to some circumstances involving property exchange, the help of a professional real estate agent may be very handy. For other types of simple sales and purchases, it is not necessarily needed. This article aims to present an overview of various real estate transactions and at what point an agent is advantageous.

Buying Property

So, if you are in the process of buying a home or any other property for investment, then it's very important that you get a good real estate agent, according to Nick Statman. An agent has prior access to homes that are not in the public MLS system, and thus, you begin with an advantage. They also have knowledge of the average price of the various neighborhoods, how to bargain, and how to do all the paperwork that comes with the buying process. The buyer's agent commission is usually paid out of the seller's sale proceeds in most of the real estate deals.

Selling Property

Selling a house in this context means that your home must be properly marketed, and this can only be done virtually while using an agent. Nicholas Statman says real estate agents possess the marketing ability, branding, appraising proficiency, listings, and methods to display and sell the property, which cannot be done independently. Their commissions are based on the selling price, but those marketing efforts, more often than not, net you the best price for your property.

Basic Rental Transactions

If you need simple housing, for example, a single-family home or an apartment, then there is no need to use an agent. There are no complications in terms of lease agreements as they can easily be found online, and most city apartments use internal rental agents to lease their apartments. The use of online classifieds in marketing can get a lot of people who are interested in renting a house. Initial screening based on background and credit history information is also easy to do on your own as well.

Commercial Property

Buying commercial properties such as office spaces, shopping centers, warehouses, or lots involves the use of a commercial real estate agent. Even merely going solo is close to impossible because of the challenges involved in the valuation, zoning regulation requirements, paperwork, purchasing negotiations, and leasing aspects. It is worth mentioning that their commissions can be higher than those of residential agents, but these commissions exponentially bring you much higher purchase prices and rental income.

Conclusion

According to Nick Statman, it is advisable to seek the services of an agent when buying or selling big assets such as homes and commercial property. However, if it is just the elementary renting activity or subletting, you still may turn out to be the economic beneficiary proceeding independently armed with the proper lease forms and Internet advertising tools. The degree of transaction and property cost are important factors that should be considered while choosing whether you need an agent's help or can solve the problem without their help.