subject: Benefits Of Working With A Realtor In Rochester Minnesota [print this page] Real estate agents can provide a number of services that will save the buyer or seller time, money, and effort during the home buying or selling process. Real estate agents in Rochester, Minnesota are intimately familiar with the properties listed in the area, including pricing and current market trends.
The housing market in Rochester is stable when compared to the rest of the nation. Despite its stability, housing markets fluctuate constantly and require a significant amount of research to stay abreast of the market trends. Most individuals simply do not have the time to do the research required to make an educated decision. Real estate agents specialize in this type of research and can assist both buyers and sellers in the process.
There are two types of real estate agents, a selling agent and a buyer's agent. A selling agent represents the seller and acts solely on the seller's behalf. A buyer's agent represents the buyer and acts objectively on the buyers behalf. When a home is sold, buying and selling agents are awarded between 5 and 7 percent of the total home sale collectively. If there is no buying agent, the selling agent is awarded the full 5 to 7 percent. If there is both a selling and buying agent involved then the commission is split accordingly. Commissions are paid by the seller for both agents; therefore, there is nothing to lose on behalf of the buyer for using an agent.
Real estate agents are especially beneficial to first time home buyers. Many do not know where to begin. A real estate agent can provide a roadmap for the home buyer to navigate the buying process.
The agent may begin by determining what the buyer would like in a home. Once the size, location, amenities, price range, and neighborhood have been determined, the Real Estate Agent can use the Multiple Listing Service (MLS) locate the homes that meet the buyer's specifications. Without this tool, the buyer may waste hours, even days looking at homes that simply do not meet the criteria.
The real estate agent may preview the homes before setting an appointment for the buyer to assure that it is a property of interest. Additionally, the real estate agent can set appointments and accompany buyers when viewing properties. During the viewings, agents may alert the buyer to "caveat emptor" types of items, such as if the home is in a flood zone or has damage indicative of termites.
After the buyer has found the perfect property, the real estate agent may assist the buyer in making a realistic offer and negotiating with the seller's agent. Additionally, the agent may offer advice on home inspectors, lenders, interest rates, grants available and guide the buyer through the contract process.
For the individual selling a home, the real estate agent may accompany the seller on a walkthrough of the home, suggesting items to remove, reorganize, and repair to appeal to potential home buyers. The real estate agent may also help the seller establish a realistic selling price based upon the price similar homes have sold for in the area. A comparative market analysis can be compiled by an agent to assist the seller with this process.
A selling agent can assure that the home can be shown at all times, regardless of the seller's schedule. The selling agent can also guide the seller through the closing process and answer most questions as they arise.
For the buyer and the seller, a real estate agent in Rochester, MN can be a time-saving advocate and great resource for knowledge during the home buying process.
