Looking to Buy or Sell? Five Reasons Why Working with a Real Estate Agent is Important.

Regardless of whether you’re buying or selling your home, it is a major financial and emotional undertaking. In this day and age where social media and the Internet are part of our everyday lives, some people think the services of a professional real estate agent aren’t necessary because it’s a job they can take on themselves. But ask yourself this question, if you aren’t familiar with preparing a tax return would you chance filing your own taxes, or would you turn to an accountant for help?

Buying and selling is a time consuming and often stressful experience but working with a professional real estate agent can help alleviate some of the pressure and serve you in the long run. Navigating a real estate transaction, regardless of whether you are buying or selling can be tricky so having someone with experience besides you every step of the way is invaluable.

If you’re still thinking of flying solo, consider some of these important reasons why working with an agent can save you time and money in the long run.

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A few members of the Madison Estates team!

Better Access

Real estate agents have complete access to the MLS (Multiple Listing Service) database and regardless of which side of the sale you’re on this tool is your friend. If you’re selling your home a listing in the MLS will increase exposure of your house, opening it up to agents all across the area. If you’re trying to sell your home on your own this opportunity won’t be available to you.

If you’re on the buying side, your agent will be able to access listings that fit your search criteria, saving valuable time in looking at ones that don’t meet your requirements.

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Office Location: 2922 Avenue R, Marine Park

Real estate agents are also plugged into a network of other agents and through word of mouth can either share your listing or learn about homes for sale. When working on your own, your reach might not be as wide as theirs.

The Art of Negotiation

Negotiating is not for everyone so another benefit to hiring a real estate agent is that they’ll do it for you. Plus, an agent can take the emotional aspect out of the sale and provide objective advice on different aspects of the process.

Regardless of whether you’re buying or selling, your real estate agent is working in your best interest to negotiate the best deal possible. If you’re going at it alone and think the listing agent will be helpful if you should need assistance think again, they’re working in their client’s best interest and cannot provide you with that same loyalty.

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Creative Commons

Knowledge and Information

Whether you have questions about a particular neighborhood, comparable sales in the area, mortgage brokers, inspectors, lawyers, etc., real estate agents either have the answers or can point you in the right direction to find them. Because they work closely with many different people connected to the real estate process, there’s no need to worry if you don’t know any professionals in the field, they already do.

Price Guidance

Real estate agents are familiar with the current market climate and can ensure your home is priced right. While they cannot select prices for sellers to list at or buyers to offer, they can guide you in your choices. As a seller, your goal is to sell quickly and at the highest price. Homes that

are on the market too long are often reduced in price and can leave potential buyers wondering if there’s something wrong and they may not be willing to meet your asking price. As a buyer, the number you choose to offer is ultimately your decision but any good real estate agent will help guide you when it comes to determining an offer that will get you a great deal without turning off a seller. While nobody wants to overspend, having a realtor working for you will help in any back and forth counter negotiations.

Paperwork

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Office Location: 53 Douglass Street, Brownstone Brooklyn

With the sale or purchase of a home comes a volume of paperwork that will need to be filled out along the way, with some of these documents easier to complete than others. Working with an agent takes away the guesswork; they deal with the same contracts and conditions on a regular basis. Navigating a real estate sale or purchase can be tricky so it’s smarter to leave the work to a professional.

Although you might think doing this on your own can save you money, it might actually cost you more in the end, especially if you’re buying or selling a property for the first time. At Madison Estates we’re here to help guide you with all of your real estate needs.

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Getting to Know Joe Baglio…..

Joe Baglio

While other young kids were dreaming of becoming superheroes when they grew up, Joe Baglio, Managing Partner of Madison Estates, was thinking real estate, even if he wasn’t quite sure at the time what that meant.  “I was drawn to the business at a very young age and intrigued by the process,” he says. “The thought of owning property was always attractive to me as well.”

A Brooklyn boy at heart, Baglio has seen the borough he’s called home since birth go through changes and believes it’s come a long way since he was a kid growing up. It’s a place where home values continue to rise, and the bottom line is, buyers are attracted to what Brooklyn has to offer.

We spent some time chatting with Baglio to learn more about what he believes makes the Brooklyn real estate market so attractive….

How do you spot an area that is on the rise before it truly explodes on the market?

Real estate is like a living, breathing organism; it has a pulse and you can just feel it. There are certain subtleties that you have to look for. I am a big fan of people watching, which will usually give an area away. And it’s a combination of the properties, architecture, and people that will indicate if an area is exploding or about to.

As the real estate market continues to prosper and we get closer to the New Year, what areas would you say in your opinion are currently in demand?

Right now I am very bullish on Prospect Lefferets Gardens; it’s an area I’ve spent a lot of time in and have witnessed its change right before my eyes. It has amazing architecture with many limestone and brownstone blocks as well as new, larger scale rental buildings that are fully amenitised which are attracting a younger, artistic demographic.

The original roots of the area are still strong which makes it even cooler. There are lots of restaurants on Franklin, Bedford, and Washington Avenue, plus you can walk to Prospect Park and the Brooklyn Museum.   

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As homebuyers, sometimes finding the perfect place takes longer than we hope. As a seasoned broker, what advice do you have for those potential buyers who walk through Madison’s door?

To always be honest and transparent with your broker. You’re trusting them to help in finding one of the greatest investments of your life. A good broker should know what your wish list vs your needs list is.

What types of changes do you see happening in 2018 for Brooklyn?

I believe Brooklyn has far to go with many areas on the South Shore that still have not been tapped, or should I say discovered. Growing up I remember the backlash I would get when I would tell someone I was from Brooklyn; at that time it wasn’t very chic to say that’s where you were from; it’s still sounds crazy to me when I think about that.

For newcomers, what would you recommend are the “must see and do” things?

You must tour the “Gold Coast”; start in Greenpoint and follow the coast all the way to Coney Island. The diversity, architecture, cultures, and sites will blow your mind!

When you’re not on the hunt for the next great property/location, what do you enjoy doing?

I truly enjoy spending time with my family. I am blessed with a beautiful wife and two beautiful children. My kids allow me to tune out the world and shut down my engines. I get to unwind and jump onto their level which is not all that difficult for me considering I’m a child at heart!

Your greatest passions?

My family and my work.

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Keeping it Real in Real Estate

Finding an honest real estate agent doesn’t have to feel like climbing Mount Everest – if you do your homework. From reality-defying resumes to half-hearted guarantees, these are our top tips to catching the real estate Pinocchio.

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The liar’s language

If you’re a buyer, make sure the facts aren’t for sale as well. Commonplace listings jargon includes “BATVAI,” meaning “buyer’s agent to verify all information,” and “IDRBNG,” which means “information deemed reliable but not guaranteed.” In these cases, the onus is on you or your agent to confirm the accuracy of the listing information. Agents may also pad their sentences with qualifiers such as “To tell you the truth”, “To be honest” and “I swear to God.” If your agent is naturally a trustworthy person, do they really need the linguistic buffers?

Inflation situation

For real estate agents, property sales put dinner on the table so it’s easy to see why they can be optimistic when it comes to sale price estimates. Whether you’re looking to buy or sell, check out other homes in the same neighborhood or get an appraisal by a third party to verify the selling agent’s prediction. But not all high prices are tall tales. If you feel like an agent is giving you an inflated price, put them on the spot to explain how and why they are so confident (there may be legitimate reasons!).

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Spot the difference

Speaking of putting agents on the spot, take note of any hesitation and changes in body language when you probe for more details, especially when they proclaim to know a list of potential buyers for your property. Who are they? What are they looking for? How long have they been looking to buy? Put on your NYPD hat and if you’ve spent sufficient time with the agent beforehand, you should notice changes in speaking pace, mannerisms and fidgeting as well as exaggerated smiles or laughing if they’re stressed. Following these anxious exchanges, keep an eye out for a sigh of relief which can be seen in sudden relaxed body language and posture as well as a change in facial expression. This may suggest they just faked their way through their testimony on the stand.
You can handle the truth!

Ask for a copy of your agent’s production record. Request your agent print a copy from the MLS or you can ask another real estate agent to do it. You can find out about your agent’s number of sales, the price of sales and the properties’ locations. Within the industry it’s typical for ‘top sellers’ to sell one property each month or 12 a year. How does your agent stack up?

‘Testimoanials’

Is your agent relaxed about sharing more information about their previous clients or do they begrudge it as an inconvenience? Agencies scream and shout when it comes to testimonials on fliers and websites so double check they’re real. Check for full names and whether the agent is happy for you to call their clients as a reference – just like any other job interview.

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Keep them honest and on it

Have the confidence to know the customer comes first. You have the power and their reputation is in your hands. Find ways to make it obvious that you could potentially spread the word to your network of either a very pleasant or damaging real estate experience. You could also name-drop people you know or even the names of their co-workers or supervisors that you’ve been in touch with to keep them on their toes.