Whether you’re a first-time New Brunswick rental property owner or an experienced investor, you may be questioning if you truly need a real estate agent to buy a property or if it is better to go it alone. With housing market costs and interest rates increasing, striving to save money by taking a few shortcuts with your next purchase can be tempting. Yet, there’s also a chance that not employing a real estate agent could come back to haunt you. Therefore, deciding not to work with a real estate agent is one decision that should not be made lightly. In what follows, we’ll talk about some of the most crucial factors to consider when deciding whether or not to hire an agent to buy a property.
Cost
As an investor, it’s normal to desire to keep your costs down. For property buyers, the good news is that most real estate agent commissions are paid by the seller. This means you won’t be paying the commission out of pocket, so cost isn’t a factor for buyers. Of course, you should check with any agent first about how they collect their fees.
Time and Knowledge
Another factor to take into account is whether you have the time and knowledge needed to research rental properties properly. Real estate agents are experienced in the local rental market, so they can find potential rental homes that may fit your budget and needs with relative ease. Also, they will be aware of where to search for rental property listings, which will save you a ton of time and effort. Also, having a real estate agent on your back helps to guarantee that you are making an informed decision about rental properties because they give critical insight into the rental market.
Local Market Expertise
A third important factor to take into account when selecting whether or not to hire an agent is how knowledgeable you are about rental markets in different cities or regions. Suppose you don’t have much expertise in rental markets. In that case, it can be a good idea to hire an agent who does. This is because rental markets are continuously shifting, and having an experienced real estate agent on your back will ensure that you are making the best decision possible regarding rental properties.
Experienced Negotiators
In the end, having an experienced real estate agent on your back can be very helpful when it comes to negotiating rental terms. Real estate agents are skilled negotiators familiar with the rental market inside and out. This information can give you a leg up in negotiations and help ensure you get the best deal possible for rental properties.
The decision to work with a real estate agent ultimately comes down to your individual needs and financial resources. As an investor, however, you must always remember that you are only as good as your investing team. That makes having the right individuals on the job crucial to closing the best possible deals. If you determine that dealing with a real estate agent is the best course for you, then do your research ahead of time to identify a qualified professional who can help you navigate the rental market.
Another key part of your rental property investing team is a great New Brunswick property management company. The right property manager can assist you with your existing properties, as well as they can help you discover off-market deals, prepare market analyses, and manage a range of other time-consuming duties. To learn more about the services we offer investors like you, contact Real Property Management All-Star today! You can contact us online or call 848-333-0209.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. See Equal Housing Opportunity Statement for more information.
