Do I Need a Real Estate Broker or Agent to Buy or Sell a Home in Maine?
Should I Use a Real Estate Agent or Broker to Buy or Sell My Home in Maine?
When buying or selling a home in Maine, it can be tempting to try to save money by not hiring a broker. Buyers often approach us with the goal of saving on commissions by not using a buyer’s broker, or they pay a flat fee to list their property on the MLS. However, this decision often leads to unforeseen challenges and costs. Here’s why working with a professional can make a significant difference.
Purchase Price & Terms
Do you truly understand the current market value of your home or the home you wish to buy? Knowing how to achieve the best price and terms is crucial. Our clients have saved substantial amounts by making or accepting the right offers. Maine’s real estate market is diverse, and home values vary significantly between towns. Contract terms, including inspections, financing, and contingencies, can be as important as price in closing a transaction.
Example: A homeowner in Portland tried selling without an agent and priced their home too high, resulting in months on the market and eventually selling below market value. In contrast, our strategies help clients avoid overpricing and achieve optimal terms, saving them thousands of dollars.
Qualified Buyer Verification
Do you know how to verify that a buyer is truly qualified to purchase your home? Understanding what constitutes a genuine cash offer and verifying financing options is essential to moving forward with a qualified Buyer and not having to put the home back on the market later.
Example: We've encountered buyers presenting "cash" offers that were contingent on unreliable sources like online offers for their current home, sale of home contingencies, family investments, or HELOCs. We rigorously verify proof of funds and pre-approve financing to protect our clients from unreliable offers.
Skilled Negotiation
Do you possess the negotiating skills to handle one of your largest financial transactions? Our brokers are adept at negotiations, serving as a buffer and providing objective, fact-based, minute to minute advice.
Example: Buyers without agents often lack the negotiation skills necessary for favorable terms, leading to suboptimal deals. Our clients benefit from our expertise, ensuring their interests are protected and transactions proceed smoothly.
Contract Expertise
Do you fully understand all aspects of the Purchase & Sale agreement and have the experience to avoid legal pitfalls? Real estate transactions involve numerous legal and regulatory requirements that can be overwhelming.
Example: Unrepresented buyers and sellers often make costly mistakes in Purchase & Sale contracts or try to be their own lawyers. Our expertise ensures compliance with Maine’s specific laws, including disclosures, zoning rules, and contract terms, protecting clients from legal entanglements. We do not give legal advice but operate from a wealth of experience in what can go wrong or right within the process of a property sale.
Time Management
Do you have the time to manage every aspect of selling or buying a home? The process is time-consuming, involving property preparation, marketing, showings, inspections, appraisals, and closing.
Example: Our full-time commitment to your transaction ensures that every detail is handled efficiently. We dedicate hundreds of hours per sale, allowing clients to focus on their daily responsibilities while we manage the transaction. We are the only ones there from the first step of the transaction to close and beyond.
Comprehensive Marketing
Do you know how to effectively market your home? Our brokers have the resources and skills to create compelling listings and stage homes to attract buyers.
Example: A flat fee agent can list your property on the MLS but won’t offer strategic marketing advice. We have certified stagers on our team, help make repairs and improvements when needed, pay for professional photography & videography, and targeted marketing to ensure maximum exposure and attract the right buyers.
Inspection Handling
Do you know how to handle inspections and negotiate repairs? Our brokers have the connections and resources to address issues promptly, keeping transactions on track.
Example: We identify potential inspection issues early, resolve them ahead of the sale if possible and negotiate favorable terms for our Sellers and our Buyers. We have several strategies to approach inspections, starting with before an offer is accepted. Our professional contacts often prevent transactions from falling apart, saving clients tens of thousands of dollars.
Appraisals and Lending
Do you know how to handle low appraisals or communicate with lenders? Our brokers manage appraisal challenges, escrow requests, and title issues efficiently.
Example: We have experience dealing with various lending and appraisal scenarios, ensuring that transactions proceed smoothly and addressing issues before they become major problems. We have a strategy for appraisals, both before and after an offer is accepted.
Can’t I Save Money by Not Hiring a Real Estate Broker?
While avoiding agent commissions might seem like a way to save money, it can ultimately cost more in the long run. Real estate brokers bring significant expertise, often resulting in higher sale prices or better purchase deals. We have saved our clients over $100,000 in 2023 alone.
Example: Most listing contracts allow the listing agent to earn more if the buyer is unrepresented due to the extra work involved. Dual disclosure representation can also limit your rights. We have saved our clients more than our compensation by fully representing their interests, saving them from making costly mistakes and making the process less stressful and more likely to close successfully.
By working with us, you gain access to professional expertise, comprehensive services, and dedicated support throughout the buying or selling process. Our commitment to your success ensures that you achieve the best possible outcome in Maine’s unique real estate market. If you're considering buying or selling a home, reach out to us for the guidance and support you need.
