Selling your home can be quite an obstacle. See how a real estate agent can help you overcome the obstacles of selling a home and much more!
There are countless decisions to be made when selling a home and many of them will significantly affect whether or not you make a profit and how much time it takes to sell your home. A real estate agent can offer specialized knowledge in research, marketing and negotiations to help you meet or exceed your goals. According to the National Association of REALTORS®, 82 percent of home sales are the result of agent connections.
A real estate agent will:
- Serve as your advocate and representative when dealing with buyers, buyers’ agents and service providers.
- Help you establish a fair asking price that also meets your goals.
- Advise you on how to present your home aesthetically to maximize its appeal to buyers.
- Design a customized marketing plan that will promote your home 24 hours a day, seven days a week. Tactics can include the MLS, direct mail campaigns, flyers, yard signs, advertising, Internet listings and open houses.
- Schedule and host open houses and home tours.
- Screen all written offers and discuss their advantages and disadvantages.
- Assist you in making counteroffers.
- Prepare your closing documents.
- Represent you at closing and mediate any last–minute obstacles to ensure a smooth, successful transaction.
- Provide referrals to proven service providers, including title companies, inspectors, appraisers, pest control, moving companies and more.
IMPORTANT TO NOTE: Real estate professionals can represent the seller, the buyer or both. When agents represent both parties, it is called dual agency. In some states, dual agency affects the real estate professional’s fiduciary responsibilities to the seller. Keep in mind that real estate laws differ from state to state and even from locale to locale. For more in–depth answers, talk with a knowledgeable real estate professional and ask about local practices.
Price to sell and still make a profit!
The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent’s knowledge of the overall market and what’s selling — or not selling — will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won’t leave money on the table.
Here are some points to consider:
- Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).
- Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It’s important that you not confuse value with cost — in other words, how much you value your home versus what buyers are willing to pay for it. Don’t place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.
- Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move–in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.