The aggrandizement of services that aid homebuyers and sellers in completing their own real estate needs is relatively recent, and it may have left you pondering whether procuring a real estate agent is becoming a relic of a bygone era. Going solo when it comes down to real estate might save you a handful sum of money by cutting down the significant commissions you need to pay the agents. Well, the question is: Would you rather try flying solo or reach out for a helping hand?
Buying or selling a property even in a buyer’s market is challenging and time-consuming. A significant proportion of people doesn’t trust or rely on real estate agents to meet their needs. However, these guys will be forever missing the luxuries of what a real estate agent can bring to their plates. Buying and selling properties indeed take time, and with the help of the right expert, one can surely save a lot of time and make things hassle-free for themself.
Here’s how hiring a real estate agent can assure you in achieving the ‘all-time American Dream’ of owning a property in your name…
1. Hiring an Expert
Rather than being entitled as an agent, they prefer being called experts. Real estate agents are the best when it comes to their line of business. You’ll experience the pinnacle of professional real estate services by hiring a property expert. Right from negotiations to the final settlement of the price, they’ll act as a loyal mediator between you and the seller omitting you from all the hectic formalities and paperwork.
Negotiation is a tricky business, and there’s an excellent chance that the other party can easily bamboozle one without an adequate record of experience in this line of business. A real estate expert has enough experience when it comes down to revealing all the ambushes and deceptions and taking countermeasures. So, whether you are selling a property or buying one, hiring a real estate expert will always give you the upper hand.
2. Are The Encyclopedias of Property Listings
Finding a house with your specific interests can be challenging. If you are a working person who rarely gets time to spare, this becomes even more challenging. Moreover, what if the house with your interests is on the other side of the state? This is where a real estate agent comes in handy! They have an enormous database of property listings that can match your interests. Tell them what kind of house, neighborhood or even locality you need, and they can present you with the shortlisted properties which resemble your attention. All you need to do is pick one.
Most of the real estate agents have a secure and robust network when it comes to property listings. They make use of these networks to keep in touch with all the property owners and sellers all over the state. By hiring a real estate agent, you are not only experiencing hassle-free services but also given access to the network mentioned above of extensive property listings.
3. Saves Time and Money
Roaming around your locality or neighboring state in search of available properties can drastically eat your time and money. Well, we would say there’s no point in drifting along with the current without a destination or goal. With the aid of a property dealer, the path towards your target will be apparent, and you can set the course at full speed. Property dealings always include a lot of paperwork and legal procedures and don’t forget the expenses too. A real estate agent can volunteer for you to take all the trouble of hefty paperwork and costs providing you with the ownership of the property or house.
For example, selling a property which is listed under foreclosure or short sale is pretty challenging and hectic. Most of you might feel like you are going through the most terrible phase of your life. With the property listed under foreclosure or short sales even, interested buyers might back off thinking of all the legal troubles they might need to go through. By hiring an experienced real estate agent, selling your foreclosed or distressed properties will be quicker and more straightforward.
Still not convinced in hiring a real estate agent?
Let us brief you up with a few more scenarios in real estate business. When stepping into real estate business, most of you might have come along the terms like foreclosure, short sales, distressed properties, estate sales, probate sales and much more. Hiring a real estate agent will make it easy to acquire properties which are under these complex scenarios.
a. Real Estate Agent For Foreclosure
Foreclosure of property occurs when the borrower fails in paying the mortgage he/she is obliged to pay the property owner. Even though the number of foreclosed properties are gradually decreasing in number these days, they still do exist. As for a buyer looking for a potential property, there’s a fair chance that a foreclosed property might exactly be the house in his/her dreams. However, the reality is pretty much harsh. Instead of a smiling face handing over the key to the property, you’ll be welcomed with a ton of paperwork and legal procedures which can even last up to minimum seven months. The same happens when you are trying to sell one too.
With a real estate expert who knows his way around the market and its characteristics, selling or buying a property in foreclosure doesn’t plot an issue. Since they are experts in their line of business, finding a buyer for your foreclosed home will be more comfortable. Their motto is to help you by leaving you out of all the troubles providing a hassle-free business deal. You need to select the shortlisted buyers provided by the agent who are willing to give you a fair deal for the property.
b. Real Estate Agent For Short Sales
A short sale specialist or a lawyer? This might be the first question that comes to your head when planning to list your property for short sales. Opting for a short sale specialist rather than sticking to a lawyer can help you in many ways. Since lawyers only know about legal procedures that need to be presented in the court regarding the property they won’t do much help in advising what to do and what not to do when going for a short sale. A short sale specialist has completed thousands of these cases and is much more experienced when it comes to such scenarios. They can even find you a proper buyer for your property who can provide you with fair and desired price. Don’t forget that the legal procedures will be taken over by the agent itself, which indirectly implies they’ll be providing everything a lawyer can provide.
c. Real Estate Agent For Distressed Properties
Distressed properties have always been a headache for property dealers. These are the properties that are rarely maintained or nearly distressed but still packs a punch. Finding potential buyers for your distressed property can be challenging and daunting without a property expert. They are professionals in negotiating and convincing buyers to buy the property. The same goes when you are planning to buy a distressed property to save your wallet. Since every distressed property isn’t approachable even though they look promising from the outside. With an expert beside you who knows what to look for in a distressed property and understand its market value can land you a great deal without hurting your pocket.
The Bottom line
Investing in hiring a real estate agent will always be a boon when planning to buy or sell a property. They can lead and guide you in the right way to meet all your real estate needs.
Last year in 2017, the U.S. economy started with a boom with heavy investments in the stock market and real estate but slowed down during mid-year followed by climatic disasters which solely contributed to approx. $93 billion economic losses which mostly covered up with a major rise in imports at the end of the year – results in an overall economy of 2.6% annual growth rate.
The three dominant factors that will be a driven impact on the real estate investment:
The rise in demand for warehouse needs with E-commerce growth:
With a tremendous sweep in e-commerce market fuelling the gargantuan warehouses needs for goods storage has expanded drastically in recent past and business analyst already has estimated the future demands which are going to grow exponentially in the coming years. With demands including for large distribution centers or mini delivery hubs, will still be remaining high even the pricing goes up as per the market set standards.
Pent-up housing demand among millennials:
Need for housing in the forthcoming lustrum is the second big dominant factor that prevails over other secondary investments and therefore bolstering real estate demands.
It is to be estimated that around 23 million millennials in coming next five years who are currently studying and residing with their parents are likely to be moving to bigger cities like NYC, Los Angeles, Washington D.C., Chicago, Las Vegas for job and work opportunities and thus demand for housing apartments will be going to rise up.
Increased Interest rates:
As the Increasing economic growth resulting in the rise in interest rates, real estate is likely to be beneficial from it. The shift in the mortgage interest rates and properties, and state and local sales taxes are likely to be beneficial to the commercial real estate investors in high cost metro regions like New York, DC, LA, Chicago DC and the Bay areas, as job seekers and workers are moving to the suburbs for renting closer to their work areas – which is a good news for house owners and landlords.
New Tax scheme favors the real estate
As for now, there are no changes have been made in the prevailing FIRPTA (Foreign Investment in Real Property Tax Act), LIHTC (Low Income Housing Tax Credit), carried interest rules, and 1031 revenue reinvestment laws, which suggests that commercial real estate market continues to remain irresistible to both overseas and domestic investors.
Real estate experts forecast the GDP growth to be increased by approximately 2.6% in 2018, which is a rapid growth than the average of 2% annual pace over the past seven years.
Why real estate investment brings the hefty return?
It has been always believed that investing in stock market is one sort of investment that brings the huge return in a very short period of time. But also, it takes moments of time for it to crash and incur major return losses.
But this doesn’t generally happen in the case with real estate investments. If the investment is made in the right market under right conditions, it can be really helpful in generating the most consistent flow of passive income. Also, you will have the privilege for the increased property value over time with appreciation.
A city’s asset plays a big role
Every city has its key asset which attracts the new visitors and residents – investing
In those cities initially may costs you big, but it definitely yields high return in a long run.
Also, many of the small cities like – Portland, Telluride, Aspen or the other new developing ones, are trying to create an environment around that allows residents, tenants, and visitors – to have that live, work and have all needful amenities covered up with a mix of office, retail and residential spaces so residents don’t have to travel far for their needs. These small cities in the coming years will be a boon for real estate business and investing in these cities will definitely be a smart choice.
An Elite Page With Abundant Information on Real Estate and Much More
Real Estate is one of the finest investment strategies you can look forward to if considered seriously. It indeed isn’t child’s play. One might become a millionaire or easily lose property worth his lifetime savings just in a blink of an eye. Well, every business has its pros and cons, but that doesn’t make real estate business something you should leave only for white collared professionals. Everyone got a shot at real estate. This is the only profession where you can clearly see how much you have escalated both mentally and financially.
We, the Elite Properties have been one of the prominent real estate companies in New York City since 2009. Throughout our 9 years of thriving for the success, we have learned and practiced many strategies which will impact a drastic inclination on your success graph. With a determined motto for sharing the information we acquired, Elite Properties are starting a blog which only contains legit information on all real estate related conveyancing and vendor ship. Through this blog, we intend to share all the pivot information and tips for a fast and hassle-free real estate business.
What Elite Properties Has to Offer You?
Elite properties is one of the top-notch real estate platforms in NYC that help you buy and sell a house in a hassle-free manner. Property consultants at Elite Properties are extremely professional and have years of experience in dealing with all kind of real estate matters. Here’s why you should opt for Elite Properties to buy a house in New York.
Unbiased Approach –
Customer-eccentricity is the key feature of Elite Properties. They value the time and money of their customers. Rather than making tall claims, they are committed to satisfying the needs of their clients.
Thorough Evaluation –
Consultants at Elite Properties provide you an honest market analysis and exact portfolio valuations. The valuable insight will help you understand the current trends in real estate market in NYC.
Clear Objectives –
Depending on your financial status they recommend the best property deals for you. They keep everything transparent and along with the benefits, they will make you understand the risks associated with real estate sector.
Buying or selling a property when it’s under some legal consequences or formalities are hectic and daunting if not proceeded cautiously. Peoples who don’t know much about the real estate and the jargons might really feel like they are running around circles when it comes to selling or buying. Real Estate agents and dealer take advantage of this situation and convinces their clients to accept an unfair offer on their property. It would be too late when they finally realize they’ve have been framed. Being a regular visitor to our blog will help you to get a hang of all the recent updates on real estate and its hurdles.
So, if you are facing any trouble in understanding what real estate is and the things adjoining it like foreclosure, short sales, estate sales, probate sales, trustee, distress properties, tenants or anything else related to aforementioned things, Elite Properties blog should definitely be one among your bookmarks. Our blogs will also be covering all the tips and tricks you must follow to buy or sell your property quick. We’ll also let you know which locality is reigning ahead in real estate business so that if you have a property nearby it would be high time you thought of selling it.