Initially, many sellers are skeptical about whether they actually need the help of a professional real estate listing agent to sell their home. This is especially true after finding out that they are responsible for paying the listing agent’s fee and the buyer’s agent commission. Despite the costs, the role of an experienced real estate agent can’t be overstated. This is especially true if you hire an experienced listing agent who specializes in your market.
Below, we will discuss the top ten reasons sellers must hire a real estate agent to sell their home.
1. Set a Competitive Listing Price
One of the most critical roles of the listing agent is to set the appropriate listing price for your home. Many sellers erroneously believe that they have a lot of wiggle room when it comes to setting their listing price. Specifically, most sellers think that they can always lower the price if appropriate. However, this strategy can backfire because lowering your home price can change buyers and their agents’ perception of the property. For example, a home that has had to lower the parties two or three times may be viewed as a problem home. Therefore, an experienced listing agent will thoughtfully set the listing price to be competitive in your local market.
2. Prepare Your Home to Sell
An experienced real estate agent understands how to maximize property values to track the best offers for your home. They can advise sellers which improvements, if any, would likely increase the value and listing price of their home. The truth is, sellers, tend to overlook or ignore their home’s flaws. An agent can give you an honest assessment of your home and how competitive it is you’re your current market. They’ll likewise be able to recommend professionals to help with this process. These professionals may include painters, handyman, stagers. In general, your agent can help you determine the return on investment (ROI) for every dollar you spend relative to the increased listing price. Overall, setting the appropriate listing price is an art form.
3. Advertise Your Property
Advertising your property for a fast sale requires more than just putting up a yard sign and entering the listing into the Multiple Listing Service (MLS) database. An experienced local real estate agent will have a tested system to advertise your property in your market. In addition to preparing your property for sale, an experienced real estate agent will ensure that your property has professional listing photos, an attractive listing copy, and advertising your property to multiple channels, including social media and other brokers within their network to gain maximum exposure for your property.
4. Vet Prospective Buyers
An experienced real estate agent understands how to weed out unqualified buyers who are trying to view your home. Specifically, realtors are trained to ask potential buyers qualifying questions to determine whether they are serious, qualified, and motivated to find a home. Additionally, your agent may be able to determine that your home is not a good fit for a potential buyer simply by talking with them for five minutes. For example, a homeowner may require a finished basement. If your home does not have one, your agent can let the buyer know so that they are not wasting their time viewing your property. Your real estate agent can also find out if the potential buyer has been prequalified or if they are looking for an all-cash deal. Overall having an agent to vet prospective buyers can save you a lot of time during the home selling process.
5. Communicate With You Throughout the Process
A professional real estate agent will communicate with you throughout the entire process. They will act as the middleman between you and potential buyers. A top-notch agent will have a system in place to keep you updated about your sale. Some agents may send you weekly summaries regarding the state of your sale. If you have hired a real estate agent when you trust, then you don’t have to worry about your home staying stagnant on the market.
6. Negotiate For You
Real estate agents are skilled in negotiating deals. After all, this is what they do for a living. Additionally, because this is not their property, they take all the emotions out of the deal and think logically. When you have a skilled real estate agent advocating on your behalf, they will ensure that you get the most favorable terms at the highest possible price.
7. Get You the Best Offer For Your Home
Using a combination of their skill sets and experience, a qualified agent will work hard to get you the best offer for your home in your market. Their expertise is especially helpful in the event you receive multiple offers. An experienced agent can give you a good idea of what offers may fall through and which offers are worth pursuing.
8. Attend the Home Inspection
Almost every homebuyer will request and home inspection. In many instances, your sales contract will include a contingency for any deficiencies found during a home inspection. This contingency will allow the homebuyer to walk away from the deal should the home inspection turn out unfavorably. An experienced and professional listing agent will be present at your home inspection. This way, they can walk with the inspector and understand the potential issues that the buyer will want to discuss after receiving the final home inspection report. With this information, you can come to the bargaining table prepared.
9. Be Present for the Home Appraisal
The home appraisal is typically required when the buyer is obtaining financing for the property. Your listing agent must be there to answer questions from the appraiser to make their assessment easier. For instance, suppose the appraiser has a question about the age of the roof. It’s helpful if someone can answer this question immediately. This information can make a big difference in the final appraisal number. Prior to the home appraisal, your real estate agent should be able to give you advice on preparing for the appraisal.
10. Close the Deal
If there are some remaining issues are outstanding that can hold up your closing, your real estate agent will be able to help with that. Sometimes these are little issues such as ordering the final water or sewer reading. Other times there may be bigger issues such as the repairs required by the sales contract being incomplete. In any event, no matter what the issue is, your agent will be there to make sure every fine detail is taken care of so that you can get to the closing table.