You may now have a basic knowledge of setting a listing price, online marketing, staging, and negotiation. Isn’t this enough to do the job yourself? Homeowners wonder if they could sell a home through online or traditional marketing and advertising channels, without a real estate agent.
The question: Do you have the expertise necessary, and can you handle the emotional roller- coaster of seeing thousands of dollars of your money come and go?
The truth is, without a professional on your side, there’s a good chance you won’t sell. Even if you do, individual sellers often sell for less than those who hire a Realtor.
In today’s realty market, the selling and purchasing of a residential property involves many people with different skills and expertise, who participate in the transaction from start to finish. It takes many steps to finalize the sale of your home.
For sellers, it can seem overwhelming to know how to anticipate and coordinate every step necessary to prepare your home to show, list, market, and sell. An experienced real estate professional who is knowledgeable in all phases of real estate can make the process much easier. You do not need real estate expertise if you engage a professional who has it.
No matter how long you have lived in your home, a real estate professional in the local area will know considerably more about the sale price history and market trends than you do. Since real estate agents are paid a percentage of your selling price, it’s in their best interest to price it perfectly. They want to earn the highest commission possible, but they also want to earn a commission within a reasonable amount of selling time. Real estate agents network with various contractors and professionals. They can advise on service providers’ reputation and provide references who have previously worked with providers.
A real estate agent will also have market conditions data, which will affect your selling process. Many factors determine how you will proceed. Data such as the average per-square-foot cost of similar homes, median and average sales prices, average number of days on market, and comparisons of list-to-sold prices will have a huge bearing on what you ultimately decide to do.
Attempting to sell your home without an agent requires a major effort, resources, and countless hours understanding and organizing all the work.
Professional agents’ careers depend on their ethics and ability to build relationships with clients and the community they serve. Agents looking to make easy money rarely go to the effort of establishing a solid marketing plan or work at strategic pricing.
Here are some traits to look for when hiring an agent. Is he or she…
- Current? Is the agent up-to-date with the latest housing trends so he/she can serve you effectively?
- Connected? Does the agent have the necessary contacts who can assist in every phase of selling your home? A network of connections includes home inspectors, quality service people, other brokers, and county officials.
- Knowledgeable? Is the agent familiar with the current market and able to price your home strategically? Does he/she know what is unique about your neighbourhood to distinguish your home from the competition? Does he/she know what to highlight in your area to attract buyers?
- Organized? An agent must pay close attention to your specific needs, communicate well, and be quick to follow leads.
- Personable? Agents who are sincerely interested in helping you will “go the extra mile with a smile.” They must be able to sell themselves to you as well as sell your home to a buyer.
- Passionate? Some agents treat their job like a hobby or just a way to earn extra income. Find an agent who is passionate about real estate and loves the job.
- Tenacious? Successful agents possess a strong work ethic. They are efficient and take advantage of time-saving tools that help sell your home.
- Honest? Professional real estate agents build their reputation on high standards of business practices.
- Self-motivated? Real estate agents are commission-only business people. Successful agents work hard because if it benefits their clients, it benefits them.
- Creative? Sometimes, it takes creativity to properly showcase a home, develop engaging content, and negotiate a sale. An agent who can quickly address any marketing need is an asset to you.
- Tech-savvy? Agents well-versed in the latest technology for marketing homes should have a website, social media setup, user-friendly home search options, and quality presentations online, with high-resolution images of homes, videos, and slideshows. Some real estate agencies have smartphone applications.
A professional real estate agent wears many hats. He or she must be proficient in marketing, negotiating, consultation, legalities, property taxes, and, most of all, gaining the trust of clients. An agent who will meet your specific needs is certainly worth the commission he/she will earn.
Having an agent represent you in your home sale benefits you. Agents negotiate from a different vantage. Unlike most buyers and sellers, they can distance themselves from the emotional side of the transaction. Agents are more proficient in negotiating because conducting negotiations is a regular part of their professional work and because they are skilled by frequent practice.
Good agents are not simply go-between messengers who are delivering buyers’ offers to sellers and carrying counteroffers back and forth. They are professionals who are trained to advise their clients on options and consequences, then present their clients’ case in the best light. They agree to hold client information confidential from competing interests.
The real estate agent can be a buffer between seller and buyer, keeping the transaction professional and “at arm’s length.” This is important in the negotiations phase, when emotions are liable to be at their highest. The real estate agent can further filter all those phone calls that lead to nowhere, including bargain hunters and real estate shoppers.
Having a real estate agent available when the home is being shown is a distinct advantage for a few reasons. The agent will field the scheduling calls, arranging them for the seller’s convenience. The agent will show the home, saving that seller time, and also field the follow-up questions. In short, having an agent will lessen the seller’s investment of time and bother, while inciting serious buyers to immediately write an offer.
