So many sellers cringe at the thought of paying a real estate broker thousands of dollars for what they feel they can accomplish on their own. Many homeowners believe that placing an ad in the newspapers or sticking a sign in the front lawn with get the buyers flocking to their door. The reality is, this was certainly the way a seller could go in the early 2000’s but now the tides have turned and the market is not close to what it used to be.
Several years ago the market was hot and buyers were flocking to seller’s doorsteps, practically before they even listed the home for sale. There were bidding wars and escalation clauses. That frenzy has sorely fizzled out with the current housing market. Home prices have dropped below what they were just a couple short years ago and many sellers have been left to allow the banks to handle their real estate.
Being a seller in this current market is a tough decision. One you may not want to undertake unless you must. If there is considerable equity in the home and it’s a good time to sell for you, then the choice may be the right one. If you can hold off for a while, you may find yourself in a better position financially. Either way, there are some serious reasons for choose to let a broker handle your real estate rather than tackling it alone.
1. An agent will price it properly. Homeowners tend to price too high or too low. Sellers often price by what is for sale around them. Agents look at this plus what has sold in the last 6 months. They also determine where the home started and what it finally sold for. You don’t want to be chasing the market down so choosing the right price from the beginning can save you thousands in the long run.
2. An agent will help stage and market it correctly. If you don’t know what’s on the market, it’s hard to compete with it. Agents see hundreds of homes each month and know what buyers are looking at and what they want. Setting a homes up for this from the beginning is getting in the door before many home sellers. A good agent will help you layout and stage you particular home to compete with model homes and others in the area. They may even provide items and furniture for the right look.
3. An agent will provide all the correct documents and make sure they are drawn up for your protection. If you handle a real estate transaction by yourself, unless you have done it many times, it’s hard to keep current with the changing laws and rules. How will you know if you are protected? Is the buyer even acting in a legal fashion? What happens if you don’t understand something? A good agent will walk you through all the details and make sure you have a clear understanding of your rights.
4. An agent will market better than you ever could. You might think agents make a lot of money for simply listing a home but this includes far more behind the scenes work than you might realize. Agents have a circle of influence that expands the longer they are in the business. Not only are you marketing to every buyer on the MLS but also to every buyers agent with buyers that your agent knows. The network of agents and brokers that get together can be endless. This alone is a gold mine not to be taken lightly. If for no other reason, having this large pool of buyers to view your home, is enough to use an agent to sell your real estate.