The Value Of Working With An Experienced Real Estate Agent (To Sell)
The 21st century is what I would call the Do-It-Yourself era. Everyone has access to amazing technology that can provide them with the information they need to do just about anything on their own. That’s why it isn’t surprising that many people who are thinking about selling a home wonder if they need a real estate agent.
The answer is yes. Despite the ability to do some of what an agent can do for you, having a real estate agent on your side is essential. Here’s why.
1. Understands the Market
The real estate market can be tricky and includes things like the number of houses versus the number of buyers, days on the market before being sold, economic factors, and even seasonal factors. An experienced agent knows how to look at these numbers to help you determine the best plan of action for selling your home. Although you can get this information online, understanding what the numbers mean and how they affect the sale of your home is part of an agent’s responsibility.
2. Determines the Asking Price
With technology, sellers feel that they can easily determine the market value of their home. The truth is that although information abounds online, it is impossible to know which information is correct. In fact, using information on different sites can easily produce different results.
This means that it will be far more difficult for you to create true comps to determine the correct asking price. However, an agent has data that a homeowner does not have.
3. Identifies Key Selling Points
You love your house and know why you love it. Nonetheless, you may not be aware that buyers in your area are looking for things like tiled showers or a working fireplace, for example. An agent, however, because they work with buyers and sellers all day long, knows exactly what they are searching for and can help you list points about your house that will create a buzz among buyers.
Most buyers begin their search online. That is why marketing a home has become even more important in today’s world. An experienced agent knows how to aggressively market your home. They will:
Suggest home staging techniques to make your home stand out from the crowd
Use professional photography for all listings
- List your home on the MLS and all major online listings
- Use technology such as video tours
Not only do they have access to the latest technology, but they also have access to a database of potential buyers for your home. If you were to try to do-it-yourself, you would have to start from scratch.
The list of paperwork needed to sell a home is quite long. Much of this paperwork is legal paperwork that, if done incorrectly, can stop the sale of your house. It could even cost you money in fees and penalties.
An experienced agent understands:
Comparative Market Analysis (CMA): To help you know what other similar homes in your area are listing for
Preliminary Title Report: Report that lets you know if anything negative has been reported on your property before the sale begins
Mandatory Disclosures: This is information that is of interest to a buyer. Each state has different rules determining what must be disclosed.
Contract: Once the written bid from the buyer is accepted, a contract is created stating the terms of the contract. Specific items must be listed in order for the contract to be valid
Closing Paperwork: All the legal paperwork needed to close the house successfully
Although there are sites online that offer paperwork for those selling without an agent, these sites simply contain templates that do not have the intricacies needed for your specific property.
It is possible to read about selling a home. However, having an expert that has been there and done that makes things easier for you when it is time to negotiate a contract on your home. An experienced agent will guide you through the negotiation process, making sure you the deal on the table is a good deal for you.
During negotiations, you’ll want to get the highest price for your home possible. However, the buyer will be looking for the best deal. In order to find the right middle ground, you’ll need to negotiate. From the moment an offer is received, everything is negotiable. These can include such things as:
Items to convey
Without great negotiation skills, a seller can be left with no deal…Or worse yet, a bad one.
Selling a home takes a lot of time, time that you would rather spend working, being with your family, or relaxing. On average, your agent will field 40 calls from potential buyers, show the home ten or more times, prepare hours of paperwork, spend time in negotiations, respond to agents wanting to show your property, and much more.
Not only that, but experienced agents are available during the day and evening when you might not be. This allows them to show your home and respond to potential buyers even if you happen to be busy.
8. Success Rate
Finally, real estate agents are far more successful selling a home than someone trying to sell on their own. The problem is that 88% of homes that go on the market this way never make it to closing. Those are terrible odds. The likelihood of selling your home faster and for more money is much better when using an experienced agent.
Experienced real estate agents are there to help you be successful in your home sale. Despite the DIY era, their expertise is valuable and should not be ignored.