5.51 million existing homes were sold in 2017. 89 percent relied on the professional help of a real estate agent.
As a prospective home seller, what does this tell you? Selling a home through a real estate agent is a smart thing do. What these numbers don’t say, though, is how exactly an agent will help you sell.
In this article, we’re going into the details.
Make Your Home Ready for Sale
Although there are people who sell a house as is, it’s typically not the best way to get a decent return on investment. In fact, most such properties sell well below their market value.
If you’re like most home sellers, you want your property to turn out a tidy profit. To achieve that, you must make it appealing to potential buyers.
An experienced real estate agent will inspect your house and advise you on the repairs and upgrades you can make to increase the value of the property before it hits the market. If the home needs a thorough inspection, an agent will hook you up with a qualified home inspector.
This is important because some buyers won’t mind employing their own inspectors to give the property a close-up look. Do you want them finding faults you didn’t know about?
Price It Right
Did you know overpricing is the most common reason a home won’t sell?
Yet, this is a mistake committed by a good number of home sellers. And the reason for the mistake is they use their “homeownership expertise” to slap a price on their property. Or a neighbor’s home recently sold for a certain price, so you see no problem pricing yours similarly.
Well, do that and your home will sit on the market for a long time.
To price your home right, work with a real estate agent. These professionals have a strong handle on real estate trends in your neighborhood, they know what sales at what price, and will use that knowledge to determine a price that isn’t too steep to scare away buyers, and not too low to make you rethink selling.
Market Your Property
Back in 1981, newspapers ads were the most effective way to market a home for sale. In 2106, no less than 44 percent of buyers began their search online. In 2018, who doesn’t use the web?
If you don’t market your property online, finding a buyer will be a challenge.
Perhaps you are thinking, “well then, why can’t I just post it on my personal social media pages?” Nice move, but only your friends and a few of their friends will see the post.
Working with a real estate agent remains the best way to give your property a wide online exposure. A good agent has access to top real estate listings, and they know what it takes to optimize the ad for search.
Your agent will probably bring in photo and videographers to capture the home and edit the visuals for digital consumption. In the digital age, real estate visuals are a gold standard. So much that a listing with a video gets four times the inquiries of a listing without a video.
Can You Negotiate Like A Pro?
If you’re a newbie, the answer is no. If you have sold a couple of homes, you could be harboring some belief in your negotiating skills, but the answer still remains a resounding no. To negotiate like a pro, negotiating has to be something you do day in day out.
Negotiating is a strong suit of any experienced real estate agent. After spending years on the negotiating table, you can count on an agent to take on any potential buyer and strike a good deal.
Keep in mind that pricing your home right doesn’t necessarily mean it will sell at that price. But with a competent negotiator on your team, you stand a good chance of offloading it at 99 percent of the listing price.
If you go the for sale by owner route, be prepared to keep adjusting the listing price – downwards.
Stay Compliant with Selling Laws and Procedures
Selling a residential property is mostly a straightforward process, but you can easily find yourself breaking the law.
For instance, if you refuse a buyer offer because you don’t like the color of their skin, family status, national origin or sex, you’ll be in violation of the Fair Housing Act. The buyer can sue you, and what started as a simple quest to offload a home will turn into an ugly court case.
Even though they don’t practice law, realtors know real estate law. As such, a realtor will help you sell your home in accordance with all the relevant federal, state and local housing laws.
Get the Paperwork Straight
Here is a list of some of the documents you’ll typically need to sell your home:
- Title report
- Property tax information
- Mortgage loan information
- Homeowners’ insurance information
- Final sale agreement.
Now, do you have the time to gather these documents and fill them out properly? Even if time isn’t a problem, you probably don’t have the know-how. These are legal documents, failure to get the information right will not only delay the sale, but also potentially land you in legal trouble.
Hire a real estate agent and avoid the paperwork guesswork. These pros have connections with real estate attorneys to handle any complex documents.
Now You Know How a Real Estate Agent Will Help You Sell Your Home
The benefits of letting a real estate agent help you sell your home should be enough to excite you. From inspecting the property to setting a price, marketing it, negotiating with buyers and handling the legal bits, there is no doubt hiring one is a wise thing to do.
Yes, they attract a commission and other fees, but would you rather your home stays on the market for weeks or months? Would you rather sell way below the listing price?
If you are in Sarasota, FL, and are looking to sell your luxury home, get in touch and enjoy the benefits of working with a top real estate agent.