Vancouver has been a steady and consistent economy without much drama in the housing market and is part of the reason that Canada is leading the housing recovery worldwide according to Scotia Capital’s Global Housing Recovery Report. But even in this stable market the housing industry continues to increase in complexity. There are subtle factors, including market forces that are challenging to keep current on even in the information and knowledge age. The Real Estate Professional, in this case the Real Estate Broker offers some strong benefit to you as you both consider selling your home or purchase a new home.
There are many reasons to hire an industry professional. Most people would not attempt to negotiate tax laws without an attorney, accountant or CPA. The confidence you gain from a trusted professional allows you to look for the optimum advantages within legal and industry standards. There are similar reasons to hire a real estate broker.
1. Updated information: the professional real estate broker is aware of changes in the market, industry regulation and compliance changes. The real estate broker has access to current listings, properties in negotiation for sale and recent sales. In the US market, the changes in foreclosure laws are occurring weekly; the real estate broker can help you navigate the waters.
2. Local Knowledge: especially when you are looking in new areas, it is essential to find a real estate broker that really understands the local market. They can help you understand the school district standards, local area stores and cultural options and most importantly the subtle information about the differences in neighborhoods. While there is a wealth of information available in public record, internet access and local chambers of commerce or other websites. The accuracy, and current changes incorporated can be spotty at best.
3. Negotiation Skills: residential real estate is something that people often get emotionally attached to, which can alter objectivity in the negotiation of prices and terms. The real estate broker will understand the standard values of the market; will help you negotiate the deal with the seller.
4. Resources: The real estate market requires access to a variety of vendors and professional services, your real estate broker can help you find reliable and professional options to help you with housing inspection, construction, title searches and mortgage options.
5. Economic Conditions: there is important information, which can be critical in shifting economic times. If you are in default or foreclosure, the real estate broker can help you understand the complexities of home rescue programs, mortgage restructuring and short selling as well as emerging new options.
Whether you are selling or buying there can be strong advantage to building a lasting relationship with your real estate broker. As in most business transactions it is the relationship that makes for the best deals. As you build and strengthen your relationship with your real estate broker, you will find more and more reasons to use them as a resource and an asset in your real estate transactions.