Selling a home and achieving the best possible return demands extensive market knowledge. It also requires the ability to market your home to the broadest range of buyers, with savvy and unemotional negotiating skills. In addition, selling a home necessitates understanding all legalities and a high degree of objectivity.
An experienced, proven real estate professional manages every challenge with current market and support resources and can eliminate the stresses and uncertainties of trying to sell a home on your own.
The Realtor works only in their client’s best interests throughout the process. In fact, many frustrated FSBO (for sale by owner) sellers ultimately turn to a professional real estate agent to help sell their homes. On average, FSBO homes sell for 26% less than agent-listed homes according to one survey.
Advantages of Working with an Experienced Real Estate Agent
Current Market Knowledge
During an initial meeting, home sellers quickly recognize the advantages an experienced Realtor can bring to the home selling experience. With an understanding of local market conditions, recent comparable sales analytics, and an objective assessment of the strengths and weaknesses of the seller’s property, the Realtor can create a clear and credible strategy to position the property in its best light for maximum return.
The real estate professional may also recommend ways to enhance a prospective buyer’s impression of the home during showings. These suggestions may involve reducing clutter, touching up paint, general cleaning, improving curb appeal, and more.
Generate Greater Exposure
Licensed Realtors list their properties on the Multiple Listing Service (MLS), a comprehensive database that features all current real estate listings. With this critical tool, real estate agents representing local or out-of-town prospective buyers can sort and cross-reference homes by location, price range, size, number of rooms, and other features.
Realtors also know where and how to advertise their client’s property and open house showings through local media and targeted mailings.
Professional Negotiation Skills
Whether the market is extremely hot or somewhat cool, an experienced Realtor knows how to negotiate calmly, professionally, and objectively yet firmly on the seller’s behalf. Likewise, a real estate agent knows how to negotiate for repairs, closing costs, contingencies, and even the offered price.
When more than one prospective buyer makes an offer, the seller’s agent acts as the intermediary to create a competition that may drive the final sale price up. In fact, in a relatively high-demand housing market, a real estate agent may suggest setting a comparatively moderate asking price to create more interest from several prospective buyers and then let them bid the price higher.
Eliminating Unqualified Buyers
Experienced Realtors know how to weed out unqualified prospective buyers who request a showing.
Because showings interrupt the seller’s home life, they prefer showings only for seriously interested and financially capable buyers. Real estate agents know which qualifying questions to ask prospective buyers before scheduling a showing.
Many Realtors representing buyers require written financing preapproval or other proof of viability even before representing them for a home search.
Legal Issues
Anyone who bought or sold a home knows the numerous documents involved. Some of these documents protect the seller should the deal fall through. An accomplished real estate agent can successfully guide the home seller through the documentation leading up to and including the closing.
Working with a Qualified Realtor for Home Sale
Reasons to work with a proven Realtor when selling your home include peace of mind, less stress, access to more resources, and professionalism. The perceived benefit of an FSBO is offset by added stress, inconvenience, controversy, and often a lower sales price.