Should I get a realtor or do it myself?

Should I get a Realtor or do it myself? (27 May 2019)


If you are planning to buy or sell or rent real-estate, I am sure the matter crosses your mind: should I get a real-estate agent/negotiator or can I do it all myself? (They go by different names: real-estate agent, real-estate negotiator and realtor. For the purpose of this article, we will use these three terms interchangeably.)

If you ask a real-estate agent such a question, they would of course, without a doubt, say that you must engage their services. The short answer is, you don't have to. But you probably should.

Anybody planning to DIY in property transactions would have done all the work that a real-estate agent does, and is half-way to becoming one. If that is not your cup of tea, and knowing that making mistakes will cost you aplenty, then it is well worth getting a professional to handle your property transaction.

One thing to bear in mind is, you do not pay a real-estate agent unless a transaction materializes. If you are a buyer, engaging an agent means it is up to him to source for properties that meet your every whim and fancy, and you don't have to pay him anything unless you proceed with a purchase.

If you are a seller, the agent has to bear the cost of advertising and promoting your property on various channels and platforms, with no assurance of making a sale. If he fails to make a sale, he doesn't get paid anything. You can therefore engage several agents at any one time (but not too may please, because disdain sellers that do not provide them a degree of exclusivity) and only pay the one that achieves a sale.

The above is one of the most attractive reasons for engaging a real-estate agent. Trying to promote a property for sale is both time-consuming and expensive. Moreover, you are unlikely to be as well connected as the real-estate agent, with is better able to network with fellow agents in seeking a prospective buyer for you.

A person who represent a buyer or seller in a property transaction is known as a Real Estate Negotiator (or REN) for a purpose. He is trained to negotiate on your behalf. If you are the seller, it is up to him to try to get the highest price for you. If you're the buyer, he need to employ all skills to get you the lowest price.

Once the deal is sealed, having a real-estate agent helps you navigate the paperwork. He will most likely have lawyers and bankers on hand, and are familiar with which ones to recommend. He will be able to explain to you the steps involved and the various costs which otherwise might give you rude awakenings.

It goes without saying that you should only engage registered Real Estate Negotiators, so that if you are not satisfied with the services rendered, you can always report him.

If you are planning to buy for investment purposes, an experienced realtor will be able to provide you valuable advise, historical transaction data and indicative future value, helping you make informed decisions.

Having said all that, if you are diligent to do your own homework, and are confident that you can do things on your own, then by all means, DIY. But if you appreciate the role and contribution of an experienced, professional real-estate agent, then by all means, get one.

Engage an All Malaysia Property Realtor

If you need a professional to help you buy, sell or rent property, in Penang and Kuala Lumpur, please contact us today.

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Dear visitor, thank you so much for reading this page. My name is Timothy Tye and my hobby is to find out about places, write about them and share the information with you on this website. I have been writing this site since 5 January 2003. Originally (from 2003 until 2009, the site was called AsiaExplorers. I changed the name to Penang Travel Tips in 2009, even though I describe more than just Penang but everywhere I go (I often need to tell people that "Penang Travel Tips" is not just information about Penang, but information written in Penang), especially places in Malaysia and Singapore, and in all the years since 2003, I have described over 20,000 places.

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