Are you thinking of buying or selling a property? The thought might have triggered your mind about whether you should go for all the hustle and bustle by yourself or you should consider hiring an estate agent. Here in this article, we will get to know why hiring an agent is good for you.
Estate agents have a legal obligation to reveal all material facts that could impact the sale price or desirability.
- A material fact is anything that might influence you when deciding whether to buy or sell your home. For example, if there’s a lake view from the window, this would be considered a material fact.
- If an estate agent fails to disclose any material facts about a property and, as a result, you lose out financially on your purchase. You can sue them in court. You may also be able to sue if they fail to disclose important information about your property for it to sell quickly at its highest value. Such as if there was damage from floods during the winter months, which could affect buyers’ decision-making process, or perhaps old asbestos in one part of the house needs replacing urgently.
Financial institutions often provide estate agents with intelligence regarding which sales they’re likely to lend and which they won’t consider.
Suppose you are unsure about your financial situation or doubt what kind of mortgage may be available for a property. In that case, it is crucial to consult an agent who can advise on these matters. They will be able to provide information regarding how much money requires for the purchase price and how much deposit money is needed. Based on this information, they will be able to recommend a lender that may provide funding for the transaction and offer suggestions as to which mortgages would suit your circumstances.
Estate agents are legally obliged to pass on all offers in writing, so you can be sure that your offer got considered.
- As an estate agent, you are legally obliged to convey all offers in writing to the seller. It means that you must write down the details of each offer and send it through to your client. It is a great way to avoid legal disputes. Over whether or not the seller has considered an offer.
- If there is any confusion about what has been offered, this can be cleared up before any legal proceedings occur.
Most estate agents won’t disclose how many offers there are for a particular property, but it doesn’t hurt to ask – especially if you feel like you’re up against the serious competition.
If you’re looking at a property with multiple offers, it’s worth asking the agents how many offers there are. If there are only a few, then this may not impact your bid, but if there are five or six offers in total, you may be up against some stiff competition.
Many estate agents in Brentwood won’t disclose how many offers there are for a particular property (and this information is rarely included in their terms and conditions). Still, it doesn’t hurt to ask – especially if you feel like you’re up against the serious competition.
Estate agents don’t get paid by you – the vendor pays their commission after completion of the sale.
As a buyer, you should know that estate agents don’t get paid by you. Instead, they get paid by the vendor after the sale.
Some estate agents will also take a commission from both parties involved in a transaction, making it more affordable for buyers to use their services. The money is taken from the sale price. It can often be up to 3% of this amount – however, some agents may charge less or nothing.
The commission is usually 1%-3%. Depending on how much work has gone into finding your dream home or apartment.
Estate agents act on behalf of the seller rather than the buyer.
The first thing you should know is that estate agents act on behalf of the seller rather than the buyer. It means that the seller pays them a fee, earning their living from working for them. However, this doesn’t mean that they can’t help you because they have your interests at heart.
Estate agents in Brentwood have a lot of experience buying and selling properties, so they know what works best in most situations and when to try something different or new. They also have access to information about other areas, giving them an advantage over someone who is just looking into buying one house at a time.
A good estate agent will work hard to get you a good deal on your new home.
You must select an experienced and well-known estate agent who knows how to negotiate with sellers and other agents. A good estate agent can secure a better price for his clients.