Buying a property is not as easy as it sounds. It requires a heavy amount of time and effort to search for the right kind of property that meets the requirements of the buyer. Realty investment involves a lot of tasks to perform. This includes everything from research, real-estate market study, contacts with real estate agents, information to finding a credible owner. Indulging into so many aspects of decision making sometimes confuses the buyers or on the other hand, sometimes the buyer also makes a decision by consulting their near and dear ones.
However, is it the right thing to do?
The most reliable person can help in making your decision easy is a real estate agents or multiple realtors. Like any other source, these sources also have some pros and cons. But don’t worry, we’ve got you covered! Square yards will help you in understanding all the pros and cons that the individual has to face while working with multiple agents.
Pros of Working with Multiple Agents
Appoint by Knowledge
It is considered very important for the buyer to get to appoint the right people for their work. By right person, we mean the individuals that carry proper knowledge and expertise in the field. The same is the case with the real estate market. An individual cannot blindly trust the rumors and make their decision. This is the reason you appoint agents when wanting to purchase a property. However, do you think that a single agent can help you go through all the data for different sectors and areas?
Probably not! A single agent practically cannot help you go through a market study of different areas. Therefore, it is suggested that the buyer hire a different agent for a different market and for different locations. As relevant agents as per different markets will help you in providing reliable information for that particular location.
Get Your Best Negotiation
The skill of negotiation is not something that everyone has and when it’s the real estate field it becomes even more difficult. The right person that can do it on your behalf is the real estate agent. Realtors ace the task of negotiation for you as they are the right people who know the market and the business for a long time. This also makes the task easier by making your final deal happen in a much easier way. An agent who is familiar with the market also understands the right deal that the buyer needs to go for by avoiding unnecessary conundrums. This makes the deal very reasonable for the buyer.
It is not possible for two agents to have the same thought process. The same pattern is seen in the behaviour and information that the agents provide their customers with. An agent or any agent for that matter has credible information of the market that they are working in. But can a single opinion help you in making the most important decision? Maybe Not! Therefore, opting for multiple agents at a time helps in providing you with different aspects. For instance, if there are two agents that you are in contact with currently then those two agents can help you with two different options with two different deals. Having two options leads in making the right choice. Also, at the same time, the buyer will also get an idea as to which agent to go for and which agent is rightly meeting their requirements.
Cons of Working with Multiple Agents
Different Sources, Different Information
Any project is indicated liable when the correct information is provided to its customer. However, getting the same information or going through similar data can sometimes irritate the buyers. Multiple agents are equal to multiple points of view. It is not necessary that every information that is provided to the buyer is accurate. It is a probable chance that sometimes too much information can also land up in confusing the clients. Such scenarios can make the customer lose their perfect option as per their requirement. Sometimes reading so much information may also bore the client and then there are chances that the buyer may go through the data just for the sake of reading and not understanding. Therefore, it is recommended that in case a buyer wants to opt for an agent then they should only opt for one and not many at the same point in time.
Responsibility and Commitment
It is a human tendency that if an individual does not show faith and trust in a person then the same will get reciprocated towards you. Similarly, the agents eventually get to know that the client has various agents that they are in touch with. When a buyer is in touch with various agents there is a tendency that the agent does not showcase its full commitment towards the buyer’s requirement and does not take the same thing as their responsibility.
There might be chances that the buyer hides the fact that they are on talking terms with various agents at the same time. But it is important for buyers to understand that it is not that easy to hide the same. Because sooner or later the agents understand the behavior and stop their communication with the buyer.
On the other hand, if a buyer decides to opt for only one agent for their requirement. Then the agent makes sure that they put in all their efforts to provide their buyers with the best of the deals in relevant projects. They will also keep their buyers updated with the market reading. Also, Make sure that their client is the first one to avail all kinds of advantages.
The first and foremost step required by agents and the buyers is to maintain a rapport. However,maintaining the same equation with multiple agents at the same time is a gruesome task. Therefore, to maintain the same it is always recommended that the buyer appoints only one agent for their requirement. Doing so will help both the parties as the agent will then only work towards the requirement of the buyers. This will help in saving time and effort, as the buyer will then not have to waste their time in searching for properties that do not match their requirements. The agent will also provide appropriate suggestions that the buyer can then consider and make their decision accordingly.
Apart from this, the real estate agent also has proper reading about the market that they are working in. They have various contracts with the builders and the investors. They can also help in providing you with the best pricing options.
The above-mentioned pointers are some suggestions that can help an individual to understand the advantages and disadvantages of having multiple real estate agents. Read them and make the perfect decision for yourself.
Frequently Asked Questions (FAQs)
There is no correct answer to this question, a buyer can very well opt for multiple real estate agents as per their requirement by understanding the pros and cons of the same.
Yes, it is always recommended for the buyers to opt for realtors that have proper knowledge about the market and have been in the business for a long time.
Multiple real estate agents are the different individuals that the buyer appoints when they are in search of buying a property for themselves. These agents are individuals who have proper information about the market who then helps the buyer in making right decisions.