There are many sites and tools on the internet to assist homebuyers in the preliminary work to find homes for sale and to research information on neighborhoods and recent sales. But buyers often use real-estate agents to identify long-term value in properties, negotiate prices and ensure that deals go through.
First and foremost, a real estate agent can assist buyers in developing a scene of what they are truly looking for in a new home. An experienced real estate agent will get to know their customer and pick up on hidden signals that buyers show when seeing a home. And on the flip side, a good agent will also develop an understanding of what a buyer doesn’t want. This is an invaluable skill because is streamlines the process of looking and saves both the agent and the buyer time and frustration.
Once you and your agent have found the “right” home, your agent can assist in negotiating the transaction and bringing that transaction to the closing table. An effective agent should be able to educate the customer about the local market in order to negotiate the best deal. This includes giving the buyer information about comparable homes that have sold, how many days a home has been on the market (DOM), as well as information about what is not selling. Of course, it is up to the buyer to make the end decisions as to the terms of the sale, but a good agent will have giving them the right information to make informed decisions.
Real-estate agents can also point out potential issues that could affect the resale price of a home and suggest small changes to increase the home’s value. Your will not only assist you in finding your home and negotiating terms, but they will be there with the buyer through the entire process, which ranges from home inspection and appraisal to the actual closing.
While real-estate agents are instrumental in assisting buyers through a successful transaction, there are some things they cannot do.
Fair-housing laws prohibit discrimination, an agent cannot steer a client to or away from particular neighborhoods based on their knowledge of an area’s demographics. Additionally, agents cannot explicitly describe a neighborhood based on racial, religious, age or other demographic information.
It is important to remember that agents are not lawyers, home inspectors, mold experts, nor financial or tax advisers. The buyer should rely on professionals or experts in these areas and make decisions based on information presented by these other professionals as well.
For more information about buying, selling and/or leasing property in the USVI, please contact Jennie Rosenberg at firstname.lastname@example.org or 340.690.4903.