Many people question the value of a Realtor often wondering if the commissions they receive is worth the time and effort they put in. The simple response is Yes! There are several reasons why Realtors should be used to sell a property.
Local Real Estate Knowledge
A great Realtor has a lot of knowledge about the local real estate market. They have an understanding of and can provide you with a realistic parameter of what you can expect to sell your home for. They have access to the Multiple Listing Service (MLS) which holds data that can provide you with the sales of comparable homes in the area. It is imperative that your Realtor knows what is going on in your area so that they are able to better determine the best plan of action to sell your home.
Real Estate Experience
Realtors have experience selling homes and have an idea of what sells and what does not. While you may think that your sunflower border in the kitchen is adorable, your Realtor is likely going to tell you that borders are dated and you need to paint the kitchen. These little details can make a huge difference when you sell your home. A good Realtor has an eye for details and can pick out different elements of your house that will stand out to potential buyers.
Ability to Price Home Correctly
Trying to sell your home without the use of a Realtor can actually cost you money. Because of the data that Realtors have access to, they are better equipped to make a list price recommendation. By listing too low, you run the risk of losing money but priced too high and you run the risk of delaying the sale and later having to reduce the price. A Realtor has the knowledge and expertise to help you price the home where it will sell quickly and for the most amount of money. In fact, the National Association of Realtors has statistics that show homes sold with a Realtor actually sell for money.
Real Estate Marketing Skills
Marketing is a huge part of real estate. Skilled Realtors know how to market homes with pictures, videos, and great descriptors as well as which online sites to post your home to that will drive buyers to your listing. They are also responsible for marketing, arranging and managing open houses and showings. Everyone is busy so it would be difficult for a homeowner to manage six showings on a day they have to be at work. This is why you have a Realtor.
Professional Real Estate Connections
Realtors that have been in the business a long time have a long list of professional connections and contacts. If you come across a need during the sale of your home (inspections, septic repair, etc.), a good Realtor can recommend several professionals to meet these needs. These kinds of things frequently come up during the process of selling a home. Having a Realtor with a pocket full of resources is extremely helpful.
Real Estate Negotiation Skills
A Realtor is very knowledgeable about the entire selling and buying process including the negotiations. Negotiations can be tricky. You do not want to immediately accept your first offer nor do you want to counter an offer at too high of a price that will cause the buyer to walk away from the table. Your Realtor will have experience in negotiations and can give advice and recommendations throughout this process. This can ease some of your anxiety as well as get you more money on the sale.
Facilitate Real Estate Closings
There is a lot of paperwork involved in both buying and selling real estate. It is not uncommon to feel like you are signing your life away. You may encounter state contracts, title documents as well as lender contracts. Fortunately, your Realtor can help explain the documents you are required to sign so that you can feel comfortable throughout the process.
Using a Realtor is the most effective method to sell your home. An agent can help you choose the best list price, market your home, get potential buyers in for showings, negotiate the best deal on your behalf and assist with the closing process. All of these services make a Realtor commission worth it. You have a better chance of selling your home quickly and for more money with a real estate agent!