There is a reason the overwhelming majority of home and condo sellers hire a realtor to list their home: selling a home takes time, neighbourhood and market knowledge, number-smarts and negotiating skills. So, while eliminating the agent’s commission – usually 5% of the sale price sounds mighty tempting, try to resist.
The number one task of a listing agent is to set the right price, and then get the right buyers through your doors. Agents have access to the most up-to-date information about recent sales of comparable homes in your neighbourhood, and even down to sales on your street or in your condo building. The market seems to shift on a monthly basis, and it’s the agent’s job to know exactly where things are at, during the time you wish to sell.
A good agent also will market your home aggressively. That means recommending staging techniques to make the place look great, maximizing the listing with professional-quality photographs, and showing the house to prospective buyers. Most important, the agent will vet potential buyers so you can deal only with serious prospects.
Advantages of Hiring a Realtor
Education and Experience
You don’t need to know everything about buying and selling real estate if you hire a real estate professional who does. The trick is to find the right person. For the most part, they all cost roughly the same, so why not hire a person with more education and experience than you? We’re all looking for more precious time in our lives, and hiring pros gives us that time, and will result in more money for your home.
Buffering Help
Time is money. It’s your agent’s job to filter all questions, showings and vetting of potential buyers to ensure only those who are serious get a chance to see your house or condo.
Neighbourhood Knowledge
Hiring a realtor who possesses intimate knowledge about your neighbourhood is a major advantage, and something that should be looked for in any listing agent. They can identify comparable sales and hand these facts to you, in addition to pointing you in the direction where you can find more data on schools, crime or demographics.
Price Guidance
Contrary to what some people believe, agents do not select prices for sellers. However, an agent will help to guide clients to make the right choices for themselves. Then based on market supply, demand and the conditions, the agent will devise a negotiation strategy.
Market Conditions Information
Real estate agents can disclose market conditions, which will govern your selling. Many factors determine how you will proceed. Data such as the average per square foot cost of similar homes or condos, median and average sales prices, average days on market and ratios of list-to-sold prices, among other criteria, will have a huge bearing on what you ultimately decide to do.
Negotiation Skills
Hiring a realtor who negotiates well is a huge advantage. Unlike most sellers, they can remove themselves from the emotional aspects of the transaction and because they are skilled. Good agents are not messengers, delivering buyer’s offers to sellers and vice versa. They are professionals who are trained to present their client’s case in the best light and agree to hold client information confidential from competing interests.
Answer Questions After Closing
Even the smoothest transactions that close without complications can have follow up questions from either side. Good agents stand by ready to assist. Worthy and honest agents don’t leave you in the dust to fend for yourself.
By aligning yourself with a professional, trusted realtor, you’ll not only save yourself the headache of learning every detail of the home or condo selling process, you’ll have an expert on your side who is looking out for your best interests. It’s their career on the line, and a good realtor will deliver more value for your home than you can get on your own.
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