Whose Side Are The Real Estate Agents On?
Being present many years on the market the team of At Home realized a concern of some clients – if local owners and real estate agents “collude” and whether they should rely on a realtor when it comes to negotiating? You likely hear similar questions about the real estate agents’ roles in the selling and buying processes or even sometimes when it comes to lease.
Challenges of the Home seller party
Let’s look to the home seller first. They can absolutely work without a real estate agent but why don’t they most of the time? Because they see the value in the commission. Yes, it may be easier for sellers to navigate the waters of real estate on their own. It takes place at a location they are familiar with after all. But it’s only easier, not resolute.
Even if the potential buyer and the seller do not face language barriers (which they mostly do in today's real estate market in a city like Budapest) it can be challanging to communicate the advantages of a listed property to an other person with different approach not to mention from a whole different culture.
What happens when you met “The Buyer”?
A review of all the steps involved in selling a home reveals that the confusion does not start at the beginning but as the process starts to build toward a sale. Negotiating, laws, titles, all the technical pieces that also require interaction with others in a space in which most people are not well-versed is the reason why people need real estate professionals working on their behalf.
Concerns of the buyer and renter clients
A major concern of the buyer party is ‘Who the agent is more likely "loyal" to?’ How much is he a sellers’ agents as due to the Hungarian customs he gets payed by the property owners and how deeply is he committed to his buyer clients?
As far as local real estate goes currently it is a buyer’s market and there is little to no space to trick with the asking price at the buyers’ expense. There are fewer quality options and genuinely higher asking prices set when a property enters the market.
This means that the best interest of the seller and realtor is to set a realistic price that can be obtained by enquiring clients, cooperate through the whole negotiation and even accept a good offer of somewhat lower price within reason.
And maybe most importantly: You’re working with people whose core values doesn't diminish despite being payed for closing the deal. Their professional reputation will only continue to grow if each party is pleased with the outcome.
Overall, real estate is a people-focused business. It’s not like going to a store and pulling a product off a shelf. There’s an art to many aspects and a knowledge base that is not worth many people’s time to acquire.
And the answer from experience is always the same: That only an expert in real estate can make the process go smoothly and successfully.
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