Buying or selling a home can be very stressful, especially if you’re trying to navigate the waters on your own. If you’ve hosted a showing of your home or have gone to any open houses, you’ve likely been bombarded by agents. As annoying as they may sound, most of these agents are actually trying to help you with the buying or selling process. However, the tricky part is finding an agent who you trust and has your best interests at heart.
What is a Buyer’s Agent?
A Buyer’s Agent is exactly what it sounds like — someone who is there to assist you in finding and purchasing a home. They will be there to help you every step of the way, and they can actually save you a ton of money and time.
How can they help me buy a home?
Your agent will start by narrowing down properties based on what you are looking for in a home and assist you to determine your budget. Next, your agent will narrow down a list of potential homes for you. At Omni Property Management, our Buyer’s Agents have access to a database with every property listed for-sale in the licensed areas in both Tennessee and Mississippi. Therefore, they can find the perfect property that meets all of your criteria. They will then go on private tours of these homes with you and point out any repairs, renovations, or potential hazards within the home.. Once you’ve narrowed down your agent’s list, your agent will then help you choose the home that best suits you and your needs.
Once you’ve selected your perfect home, your Buyer’s Agent will then help you with negotiating your offer. There are likely multiple offers on the property you’re interested in. Having an agent on your side will help you in choosing an offer that is reasonable and attractive to the seller of that home. Your agent’s experience with realtors and negotiation can save you a ton of money in this process, and they can help you avoid buying a home that has underlying issues.
You also have the advantage of your agent’s network. Omni’s agents have spent decades in the real estate world, and have encountered a plethora of mortgage brokers, home inspectors, movers, real estate attorneys, and more. Having access to this diverse network will save you money on each step of the home buying process and will make each step much quicker and smoother.
One of the biggest reasons to use a Buying Agent is avoiding mistakes in all of the paperwork that comes with buying a home. The paperwork can begin as early as determining a budget. Your agent will help you choose the right bank to take your mortgage out from, and they will help you understand every detail of your mortgage agreement. You will also have to put in a formal contract when you place an offer on a home, and your agent will draft the document and submit it to the seller. Once your bid is accepted, the agent will help you file for the home inspection which will ensure that you’re not buying a home with any major issues. If the inspection comes back clean, your agent will then draft a contract to transfer ownership of the property to you and file all paperwork with the county, state, and city for tax purposes. Your agent will also keep copies of each document on file. Having a Buyer’s Agent assist you with all of this paperwork ensures that each step is completed and done correctly and legally.
What is a Seller’s Agent?
Similar to a Buyer’s Agent, a Seller’s Agent is exactly as the name puts it — someone who helps you sell your house. They will make sure your home is listed correctly and marketed to as many buyers as possible.
How can they help me sell my house?
Your real estate agent will first tour your home and take pictures of the home in order to put it into the property database. Following their tour, Omni Property Management will provide you with a list of optional renovations that will increase the value of the home along with an estimated cost for each renovation, the current value of your house, and how much you stand to profit off of each repair. Omni will offer to finance the repairs for you if you cannot afford to do so at that time, and you will not owe anything until after your home is sold. For more information about this, please contact Omni Property Management at (901) 372-5513.
Following the repairs, your Seller’s Agent will stage your home with appropriate furniture and take updated photos. These photos will then be uploaded to the online listing service that local real estate agents use as well as public listing services such as Zillow, Trulia, and other online listing services. Omni Property Management uses a software to automatically update your home’s listing on every possible online real estate platform to ensure that your home is reaching the maximum audience.
Once your home’s listing is updated, your Seller’s Agent will handle each inquiry about your home. They will host open houses, handle every private home tour, and answer every question from potential buyers. They will also handle all negotiation for the home’s price and ensure that you will get the maximum sale price for your house.
Once you have accepted a formal bid, the Seller’s Agent will draft a contract that outlines the transfer of ownership of the home to the buyer. They then coordinate with the buyer to get all of the appropriate documents signed and make sure that you get your money from the buyer. Ultimately, a Seller’s Agent ensures that your home is sold following all city, county, and state regulations and all tax codes.