Whether you’re already a seasoned property investment pro or searching for your first property, working with a real estate agent seems like a prerequisite to any real estate transaction. So, it may come as a surprise that working with a real estate agent isn’t always necessary. There are pros and cons to working with an agent and the decision really comes down to your unique scenario and circumstances.
REASONS TO CONSIDER WORKING WITH A REAL ESTATE AGENT
Working with an agent really eases the burden on the buyer or seller, as the agent will serve as your right-hand person. A reliable agent will assist you with everything from narrowing your search to researching auctions and properties and providing valuable advice on appropriate bids. Some properties require a licensed agent to help you gain access to inspect the property. However, some properties on Hubzu are available for self-showing via lockbox access and do not require an agent to gain entry to the property.
Additionally, they can provide helpful background on neighborhoods (sales history, neighborhood demographics, etc.) and can provide realistic expectations on what you can expect to earn in terms of rental income and resale value. Knowledgeable agents also usually have a dependable network of lenders, inspectors and home service providers they can refer you to, so you can feel confident that you’re in good hands throughout the entire buying process. Essentially, your real estate agent will represent you throughout the property buying process.
REASONS NOT TO WORK WITH A REAL ESTATE AGENT
Over the years, the real estate landscape has evolved immensely, providing us with access to more information and greater resources than ever before. In other words, you no longer need a real estate agent to complete transactions—you now have the information that was once reserved only for agents at your fingertips.
You can now search for properties, find relevant information and schedule a self-showing and participate in auctions online. On Hubzu, you’ll not only find an updated marketplace of auction properties, but also all relevant property information, including rental estimates. You’ll also find properties in some areas that are available for self-showing, which can be accessed via lockbox. We provide you with information needed to make informed and confident decisions. Plus, our customer support team is available 24/7 should you need further assistance. If you’re an experienced investor, you’ll save the buying agent’s commission and can use it for renovations or anything else you have in mind.
At the end of the day, real estate agents are also juggling multiple clients. While the right one will make you feel like you’re their only client, that’s most likely far from true. If you choose to handle the purchasing process yourself, you get to make the calls and work on your own timeline. This could help speed things up in a business where timing is everything.
And remember, not all real estate agents are the same. If you don’t have a go-to agent, finding the right match could take some time. The relationship between a buyer and agent is a true partnership, and finding the right match makes all the difference. Working with the wrong agent could cost you time and money. If you opt to tackle the entire process on your own, you have full control over the timing, decision making and end result of the transaction.
There’s no right or wrong answer here. If you’re new to real estate or you need to get interior access to a property with a standard lockbox, partnering with a real estate agent is probably a good idea. Most are the experts in the industry and have a wealth of knowledge that can be helpful as you navigate the property purchase process. In addition, if you’re juggling multiple properties, the time and effort that an agent can save you is invaluable. Real estate transactions can happen in a matter of seconds and any slight delay could cause you to miss out on the property you’ve been eyeing. Plus, agents can help keep you organized and stay on top of communications, paperwork and more. At the end of the day, you can’t put a price on convenience.
However, if you’ve been through the home auction buying process in the past and have the time to dedicate to it, there’s no reason you can’t go at it without an agent. The information and resources you’ll need are just a few clicks away. Make sure to use the Hubzu platform to guide you through the process — with or without an agent, you’re never alone. Let’s do this!