THE TOP 5 REASONS SELLERS HIRE A REALTOR
A lot of factors go into selling a property. Things can quickly become complicated, messy, and may even have legal ramifications. And even though that may not always be the case, I’ve known too many times where it was. I’ve also seen “For Sale By Owner” (FSBO) sellers undercut their own sales price without realizing how much money they could’ve pocketed. Or they overestimate the value and price it too high, causing the property to languish on the market and leave buyers speculating why the property hasn’t sold.
This is why working with a professional real estate agent can make all the difference in helping a seller successfully reach their desired result. Below are 5 ways a good agent benefits a seller:
1. Maximizing their Property’s Competitive Value.
Do you know your property’s highest potential? Remember, this is not based on the current asking prices of homes or land already on the market, but the actual sold price. Knowing what buyers paid for in a closed sale on similar properties like yours ensures that you are pricing your property at the best possible price. As a seller, you do not want to leave money on the table. A professional real estate agent can develop a comparative market analysis of similar SOLD properties in your area that will assist in helping you determine an accurate and current estimated value. Again, if you overprice your property, it will sit idle without interest and without the desired outcome. If you underprice, it could result in a quick sale but how much money did you short yourself? A good agent will get successful results, offer advice, and expertly guide you in reaching the maximum potential for a final sales price.
2. Marketing to a Larger Pool of Qualified Buyers.
A real estate professional networks with a larger range of real estate agents and qualified buyers through diverse marketing strategies. And the key word is qualified. A FSBO may receive lots of attention and calls and even showings. But how many of those are just tire-kickers or casual lookers? Professional and licensed agents market through multiple online sources and work with offices throughout North East Texas and nationwide. This allows promotion of your property to be seen by as many buyers as possible, increasing the opportunity for a premium price and possibly shortening the time on market. Plus a good selling agent will screen potential buyers as pre-qualified ones. This is a huge benefit for you, the seller.
3. Minimizing Legal Risk, Liability, & Theft.
Since a professional real estate agent can eliminate unqualified buyers, this can also minimize people who just want to walk through your house. Allowing an unvetted person to access your home, without an escorted professional on site, puts you and your property at risk of theft or physical harm. A professional selling agent also assists with the regular legal requirements such as property disclosures and establish contracts that protect your financial interests. As well as managing unforeseen complications, communicating with the title company, and resolve any issues with the buyer or buyer’s agent to ensure the smoothest transaction possible. Problems such as water leaks, damage to property, lack of adequate disclosures, negligence, or breaches of contract can also arise. These are potential for lawsuits. Although not a lawyer, a real estate agent provides experience in navigating difficult sales transactions and problematic issues that reduce the risk of things escalating.
4. Avoiding Emotional Transactions.
Selling your home can be stressful. People you know may try to help or even offer to buy your place with a good chance of things getting messy. Hiring a professional real estate agent provides a third party negotiator who will guide you in major decisions. This is someone who will be your sounding board when emotional feelings or conflicts arise during the selling process. It also keeps sellers from showing too much eagerness that can negatively influence the sale. Not to mention, buyers can feel the pressure as well and act out of character by being pushy, demanding, and short-tempered. Adding to that, a lowball offer can be offensive to a seller whose home has lots of sentimental value. Any number of things can increase emotional conflict or elevate the stressors of both parties. However, a good real estate agent provides a cushion and brings calm to the situation and to the seller. An agent worth their salt, works through and negotiates a successful transaction to the very end without emotional roadblocks.
- Freeing Up the Seller’s Time.
Selling property is a full time job, when done properly. Screening buyers and taking phone calls from other agents (or buyers) takes hours of conversations. Not to mention all the questions about taxes, surveys, utilities, flood plains, topography of land, etcetera. A good real estate professional fields these questions and long conversations, so that you do not have to. It allows you to continue your normal everyday activities like work, vacation, friend or family events, without being chained to your phone or house for revolving showing appointments.
Key Takeaway:
If you choose to hire a professional, I recommend you interview more than one agent. Get references or ask friends about their experience with that agent. Ask what their marketing strategies are and why they are the best ones to handle your property. Personality matters too. You’ll be working closely with this person in possibly high stress situations so you need someone you can trust and who will stand up for your interests. You can create a list of interview questions to ask the agent that will help you determine the best agent for you. Your real estate agent may be working with you for several months so be picky and choose carefully.
