RELATED: The Best Real Estate Agents in St. Louis
St. Louis Real Estate Agents: How They Can Help With Your Next Home Purchase?
Real estate agents are licensed professionals who facilitate real estate transactions and acting as representatives in negotiations for buyers and sellers. Negotiating and arranging sales means listing properties, showing properties to potential buyers, filling in contracts, listing agreements, purchasing contracts, and other responsibilities.
Buying a home is a serious financial decision that can have an impact on you for years, if not decades. According to Business Insider, an average person spends around 37% of their income on their home. There is plenty of paperwork and many details that you have to pay attention to. Therefore, most homebuyers opt for a real estate agent who will assist them in finding homes within your budget. Some people decide to buy a home without a real estate agent, but there are certain risks they may face. If you are looking for a home in St. Louis and you wonder whether you need a real estate agent or not, here are a few good reasons to hire one:
- Objective information and opinion. A real estate agent can provide you will all the necessary and important information about zoning, utilities, schools, and more. Moreover, they also have all the objective information about each property they are selling.
- An agent has more experience. Unless you sell houses every day as an agent does, you do not have as much experience as them. Experience can play a significant role in finding a perfect house for a reasonable price because agents know how to navigate the real estate market better than anyone else.
- They have a network. The network a real estate agent has access to can provide you with properties you would otherwise not see. Moreover, they also have connections in other fields, including mortgage providers, surveyors, and even lawyers who can help you with a foreclosure situation.
- They have excellent negotiation skills. Whether you are selling or buying a home, you need negotiation skills. Any experienced real estate agent has skills that help them negotiate properly when the offer is made. If you are purchasing a house, you definitely need a good negotiator who will be able to get you a good price and make sure that everything is in order.
- They have access to hidden gems. Even though you can look through many listings online and you can find your dream home yourself, a realtor has access to the databases with the listings that you cannot see. This means that by working with an agent, you have more chances to find a perfect and unique deal.
FAQ about St. Louis Real Estate Agents
What Does the St. Louis Real Estate Market Look Like?
There is definitely a significant potential in the St. Louis real estate market. Currently, there are almost 3,000 homes for sale, ranging from $500 to $6 million. The median home value in St. Louis in August 2020 is approximately $200,000, and in 2020 the home prices have risen by around 2%. Zillow reports that in November 2019, 15.3% of the listings in the city had a price cut, which is a good thing for home buyers. Many homes in St. Louis get multiple offers, some with waived contingencies.
How Many Real Estate Agents Are in St. Louis?
In total, there are about 3,000 real estate agents registered and working in St. Louis, including investor-friendly agents as well. However, only 5% of them are the top realtors, who are able to sell homes for $11,883 more money than an average St. Louis realtor.
When Is It Time For Me To Hire a Real Estate Agent?
First of all, it depends on the state of the St. Louis real estate market. However, it is highly recommended to speak with a real estate agent as soon as you are thinking of buying or selling a home in St. Louis.
What Questions Should I Ask When I Am Talking to a Real Estate Agent?
In order to understand the agent's expertise and experience, there are the following questions you should ask:
- Can you provide me with referrals?
- How many houses have you sold or closed within the last six months?
- Do you work with a team?
- What is your negotiation and marketing strategy?
- On average, how many days do your listings take to sell?
Let a realtor be your guide
Buying or selling a home in St. Louis is an important decision that you may need some help with. Therefore, hiring a real estate agent with experience and expertise may be a good decision. Now you know the state of the St. Louis real estate market and have the list of the best agents in the city, we hope you will be able to make an informed decision and sell or buy a home successfully.
