Market Knowledge
Those in the market to buy a house or an investment property usually have a firm idea of what they want, from the number of bedrooms and bathrooms to a swimming pool and other must-haves. If you’re buying a home without a realtor, then you’ll have to sift through all the available options yourself. Scrolling through home sales websites may offer a helpful overview of what’s available around your local market — but they aren’t a deep dive into market conditions and inventory.
An experienced real estate agent, however, will shortlist properties for you based on your wish list. Realtors typically know every house on the real estate market and it’s their job to find the one that fits your needs and budget. The agent will also guide you through the buying process, making it smooth and stress-free.
The type of real estate data they possess includes the median and average sales prices, ratios of list-to-sold prices, and average price per square foot of similar properties. They can also identify real estate comparable and hand this information to you, so you can make an informed decision quickly.
Other market knowledge that only a local agent would know includes which neighborhoods are near great schools, which neighborhoods saw the greatest increase in market value over the years, and what are the most promising projects in a given area.
