8 reasons to hire a Chicago real estate agent
Whether you’re buying a centrally located empty-nester townhome in Bronzeville, a dream home for a growing family in Romeoville, or a two-tenant flat to generate income in Irving Park, you’re joining millions of others in making what could be the single largest investment of your life.
When purchasing property, it makes sense to protect your investment. Here are some reasons why it’s beneficial to hire a professional real estate agent.
1. Additional resources. Though most of us have access to the Internet to look for homes, there often are sources real estate agents can tap that aren’t readily available to the general public.
2. In-depth knowledge of neighborhoods. A real estate agent understands the local market, including which areas are likely to appreciate in value and which have the most desirable amenities, such as schools, shopping and community activities.
3. Realistic expectations. A real estate agent can advise a buyer on how much he or she can spend after gathering information on income, savings and debt.
4. Fair market price. A real estate agent can help determine a reasonable selling price.
5. Professional expertise. A seller’s agent protects the interests of the homeowner who is selling, while a buyer’s agent looks out for the interests of the prospective homeowner.
6. Negotiating expertise. A real estate agent can help in the negotiation of price, repairs, financing and date of possession.
7. Knowledge of the industry. A real estate agent can help recommend other professionals you may need to consult, including appraisers, inspectors and mortgage companies.
8. Legal expertise. A real estate agent knows how to write a legally binding agreement.
Many agents are in the process of complying with the Illinois Real Estate License Act of 2000, which requires real estate agents to meet higher education and testing requirements for licensure. All agents are required to meet the new standards by April 30, 2012.