Buying Investment PropertyWhat to Expect When You Don’t Use a Real Estate Agent by Khaled Zaqout June 21, 2017February 3, 2019 by Khaled Zaqout June 21, 2017February 3, 2019One of the biggest issues most real estate investors face is contemplating hiring a real estate agent or trying their luck on their own. There is no one right or wrong way to go about this; it will always be the personal decision of the real estate investor investor whether to hire one or not based on his/her skills, situation, and preference. A real estate agent will be charging the investor serious money for the services being provided, while going on your own means you get to save that money for other uses. So how can real estate investors make the decision of hiring a real estate agent or not? Is there a process involved in making a decision of that type? The answer is yes; a real estate investor must be capable of analyzing his/her situation carefully in order to decide whether to use a real estate agent or not.A real estate agent can belong to one of three different categories of real estate experts: agents, brokers, and realtors.Regular Real Estate Agents: Those who have no extra training in the business and are not members of any professional society.Real Estate Brokers: They possess more training and knowledge than regular real estate agents, but they are still labeled as agents.Realtors: The elite group of the real estate agent professionals. They are highly trained and belong to a professional association of agents.The fact is that all these types of professionals are technically real estate agents because that’s the basis of the job. Having a higher training makes a real estate agent rise up in the rank due to knowledge or belonging to a real estate professional society.Related: How To Become a Succesful Real Estate AgentBenefits of Hiring a Real Estate AgentVariety of OptionsA real estate agent can provide real estate investors with a huge variety of investment properties to view until the investor is satisfied with a specific rental property. Real estate agents also operate in networks, which means that they sometimes can contact each other to have more viewings for clients. They are also able to bring all parties together to an agreement with minimum effort because they have many contacts. A real estate agent is quickly able to contact sellers, arrange a viewing, and broker a deal that all parties agree on.Negotiations are Not a Piece of CakeMany real estate investors assume that negotiating with a seller of a real estate property directly will be an easy task because it gives them direct contact to discuss terms. However, while that can be hypothetically true, in reality it isn’t. Many sellers or buyers can be difficult to deal with because everyone wants to maximize profit and get the better deal.A real estate agent handles negotiations with ease because it is part of the experience he/she possesses from many years of practice. An agent is able to bring out the reasoning of all parties because he/she is able to factually prove to all parties what is acceptable for a deal and what is not. For example, if a buyer is interested in a house that is overpriced, a real estate agent can try to negotiate a better deal for the buyer by basically telling the seller that he/she is overpricing the income property.Handling of ContractsA real estate agent’s experience in drafting contracts for both buyers and sellers of real estate properties is invaluable. That experience makes the real estate agent know what conditions are best for you, when to waive them, and how to use the terms of the contract to protect your interests as a real estate investor.Buying Property Without a Real Estate AgentFor real estate investors who are confident in pulling off better deals by themselves compared to deals brokered by real estate agents, there is a process that needs to be done every time you purchase an investment property:Searching for PropertiesThe first step to buying any real estate property is to start the searching process for properties that fit the criteria you have established. In the Internet age, this process has without a doubt become more accessible and easier to everyone. There are hundreds of websites where sellers post their real estate properties with pictures and detailed information for investors to view.Related: 5 Ways to Find an Investment PropertyHiring an AttorneyThe idea is that while ignoring the need for a real estate agent could be doable, hiring an attorney is a must. Purchasing a rental property involves many legal contracts that must be viewed and understood to the very core. Neglecting the need to do this could result in many legal risks that could prove extremely costly for the buyer or the seller.Related: 5 Legal Real Estate Investing Tips To Know Before Buying A PropertySchedule VisitsBuying an investment property is not possible without viewing the properties you are interested in before. While pictures might give a general perception of the real estate property, they do not provide the whole picture. A real estate agent usually organizes these visits effortlessly, but as a real estate investor you will need to get on top of things very quickly to not miss out on an income property you are interested in. The real estate market is very competitive, and organization with property viewings will help you act swiftly to seal a deal.Making an OfferAfter finding a rental property that the real estate investor feels fits all his/her requirements, then an offer has to be made to the agent responsible of the listing or the owner directly. An offer will depend on the buyer’s understanding of the value of the property. Without hiring a real estate agent, it becomes harder of course to value investment properties, especially if you have no or little experience in real estate investing. Real estate investors who jump in without realtors usually have to do more research and check out other real estate properties with similar features to understand if the value meets the asking price.Closing the DealClosing the deal involves a lot of paper work that the attorney you hired should be taking care of. This includes contracts, deeds, and forms that transfer all ownership of and rights to the property to the investor. A real estate agent is also able to do these tasks if one choose to hire one.Real Estate Agent: Yes or No?The general consensus is that hiring a real estate agent is worth every penny that will be paid. Agents provide buyers or sellers with more opportunities and a better experience in the real estate market. They will act in the best interest of the party they represent by trying to cut out the best deal for the client. While some real estate investors might think it’s wise to dip into real estate investing without hiring an agent because they believe in their own abilities, inexperienced investors should definitely spend the money needed to hire a real estate agent. Having the assurance of an experienced representative on your behalf would be invaluable, and you can learn a thing or two. Start Your Investment Property Search! START FREE TRIAL Start Your Investment Property Search! START FREE TRIAL AgentNegotiationsProperty Search 0FacebookTwitterGoogle +PinterestLinkedin Khaled ZaqoutKhaled is an experienced content writer who enjoys writing about anything and everything real estate. Previous Post Why Real Estate Investing Is One of the Best Ways to Make Money Next Post Your Tenant Not Paying Rent? What Can You Do? Related Posts 6 Ways to Find Real Estate Investment Properties Want to Be Making Money in Real Estate in 2019? 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