It was around 1940 that homeownership rates skyrocketed!
The booming housing market created an opportunity for the real estate profession to take off. By the 1950s rolled around, over half of all Americans owned their own home. If you’re a homeowner and you’re looking to list your house, then you’re probably aware that this is a golden time. As home prices surge today, more and more people are turning to the help of licensed realtors. If you’re thinking about selling but aren’t sure if hiring a real estate-agent is the right move, then this article’s for you. Why is it worth your time to hire a real estate agent? Read on to find out.
Why Hire a Real Estate Agent to Sell Your Home?
Have Less Responsibility
Having a real estate agent means having less responsibility. Without an agent, it’ll be up to you to list your home, market it, arrange showings and open houses, and complete all necessary paperwork.
Instead of putting all that stress on yourself, you can hire a professional real estate agent who can take care of it for you. A licensed real estate agent will be able to organize all of your transactions and give you the best opportunity to profit from your home sale.
Trying to understand real estate paperwork can feel like a full-time job. Most Americans working full time put in over 8 hours a day. If you want to come home and relax, instead of handling house selling duties, you’ll want a real estate agent in your corner.
A real estate agent will also be able to handle communicating with potential buyers and any other parties involved. Instead of getting pesky calls to interrupt your workday, you’ll have a real estate agent who can handle all of that.
You can expect your agent to be with you from the very start of selling your home all the way through the closing process. They’ll provide continued support throughout the closing process to make sure that you understand precisely what’s going on. Then you can focus on maximizing your real estate investing opportunities too.
Sell Your Home Fast
Even though it’s a seller’s market, there’s still a lot of pitfalls you have to avoid when listing your home. Thankfully, A licensed real estate agent will be able to help you sell your home quickly, without sacrificing a profit. Your listing agent will have a fiduciary responsibility to keep your best interest at heart.
A lot of homeowners make the mistake of overpricing their homes. Overpricing is an easy mistake to make since your home has sentimental value. When you introduce a third party to the scene, they’ll be able to price your home using analytics rather than emotions.
For instance, your listing agent will be able to use a comparative market analysis to find out what other comparable houses are selling for. Then you can competitively list your home’s price so that your house doesn’t wind up sitting on the market instead of selling.
Along with coming up with the right listing price, your agent will also be able to help you when it comes to marketing your home. Your house has special selling points, and you’ll want to highlight them for potential buyers. When you post your listing online, your real estate agent will be able to make sure that the photographs show the best side of your property.
Another aspect of selling your home fast is showing your home to potential buyers. If you let a real estate agent use a lockbox, they’ll be able to accommodate last-minute appointments.
Many buyers are going to want to see your home after work or during the weekend. The more accessible your home is for viewings, the faster it’ll sell.
Hire a Real Estate Agent With Great Negotiating Skills
What type of business are you in? If your job doesn’t require daily negotiations, you need a real estate agent to help you get the most money for your home.
Real estate agents are well versed in the best negotiation tactics. A licensed real estate agent will know what to say and what not to say to push potential buyers into offering the most money. Since many potential buyers aren’t master negotiators themselves, you’ll be putting yourself in a prime position to profit.
For instance, your agent will know how to connect to potential buyers personally. Sometimes it’s the personal connections that go the longest during a negotiation.
For the best results, you’ll want to research the real estate agency you’re considering hiring from. Find out their negotiation tactics and what type of situations they’re willing to compromise.
Then read a few online customer reviews to get a feeling of what it’s like working with that real estate agent. Make sure that the reviews are recent. Any reviews written within the last 3 years will do the job.
Not Letting Emotions Ruin the Sale
Emotions are the biggest downfall when negotiating during the home selling process. Emotions can also cause you to make impulsive choices that prolong the entire home selling process.
As long as you have an experienced real estate agent working with you, you’ll find it’s easier to keep your emotions in check. For one, you’re not going to have as many responsibilities on your plate. Since you won’t be juggling all of the to-do’s that come with selling a home, it’ll be easier to have a clear mind when it comes time to make decisions.
Handling Rude Buyers
Your real estate agent will also be able to directly deal with rude buyers. Just because somebody is rude doesn’t mean that their money won’t spend. If potential buyer insults you’re home as a negotiating tactic, you might be tempted to reject their offer.
However, your real estate agent will be able to see through this ploy. They’ll understand that the insult is simply a way to lower the price and not actually a dissatisfaction with your home. Since the agent won’t have any emotional ties to the house itself, it’ll be easier for them to respond professionally, yet effectively.
Overcome False Expectations
It’s also possible that the buyer who’s interested in your home the most won’t fit your mold of what you thought they’d be like. Perhaps you imagined a family moving into your home, but instead, a group of college roommates is looking to buy.
Instead of letting your vision of who you think should buy your home get in the way of a sale, let your real estate agent handle it. They’ll be able to deal with all of the different buyer’s requests without any judgments clouding the sale.
Weeding Out Unqualified Buyers
There will always be people who can waste your time in every sales opportunity. They’re either uninterested or unqualified to make a worthy offer.
Car dealerships call these individuals to tire kickers. They come on to the sales lot and kick a few tires, pretending to consider the car. However, tire kickers never actually intend on spending any money, and they always leave without making a purchase.
Thankfully, a licensed real estate agent will have experience identifying tire kickers before they waste your time. Different red flags let a real estate agent know that someone’s an unqualified buyer.
Future Sales Leads
Sometimes unable buyers are well-meaning individuals who simply don’t have the credit to make over the offer. These individuals might have a troubling credit history or not have enough credit to get the mortgage they need. Over time, unqualified buyers can be a gold mine for real estate agents.
However, they’re not going to help you with your purpose; selling your home fast and for the most amount of money. Your real estate agent will be happy to weed out the unqualified buyers so that they don’t waste your time.
They’ll also benefit as they stock up on potential future leads. It’s a win-win situation.
Choosing a Real Estate Agent Is Easy
Another reason to hire a real estate agent is that the vetting process is easy. Hiring real estate agents is straightforward, unlike other industries where it can be difficult to tell if the individual is a good fit.
For one, you can use the power of social media to see what the real estate agent’s personality is like. Notice what past clients are saying about them, and look to see how successful they’ve been over the last year. You can also quickly vet real estate agents by asking them the correct type of questions.
What kind of questions should you ask potential real estate agents? You can start by asking them how many homes they’ve sold for the original listing price.
Your goal should be to hire a licensed agent with a price-to-sales price ratio that’s 70% or better. Then you want to find out how the agent intends on marketing your home.
Are they going to be using the latest digital marketing strategies? If not, you’ll need to take your business elsewhere. Every good real estate agent understands the internet is the cornerstone of marketing.
Finally, find out if the agent has errors and omissions insurance. An agent interested in exceeding their client’s expectations will definitely carry errors and omissions insurance. It’s a type of liability protection in the event that negligence causes a financial loss.
Avoid Legal Risks
If you decide to sell your home on your own, you’re opening yourself up to a world of legal implications. For instance, are you aware of the state disclosure laws where you live?
As a seller, it’s your responsibility to let potential buyers know about your house’s hidden flaws, weak spots, and sometimes its history. There’s specific information that you have to provide about the home’s structural condition and the different features that your house has.
Disclosure laws are tricky and inconsistent. You don’t have to reveal certain hidden conditions. But there are other home conditions that you could be sued for concealing. If you don’t want to become a professional in your state’s disclosure laws, hire a real estate agent who can take care of the legal risks for you.
Your real estate agent will be able to complete the affirmative duties. They’ll know how to disclose facts that affect the value of your property. Instead of having to worry about being liable for negligence or fraud, or a breach of contract, you’ll have an experienced agent to handle everything for you.
Your real estate agent will know what nuisances, hazards, and defects they have to reveal to the buyer. They’ll also learn the features of your property that you can keep private without incurring any legal repercussions.
Another aspect to consider is the legal paperwork during a home sale. If the paperwork isn’t completed perfectly, you could wind up slowing down the closing process.
In the worst-case scenario, you might wind up forfeiting some of your money. Instead of stressing out about the paperwork, let a licensed real estate agent handle it for you.
Make More Money
One of the biggest reasons for hiring a real estate-agent is to make more money. At the end of the day, you want to get as much money as possible for your home. But if you don’t know the ins and outs of the real estate market, you’re going to wind up losing money one way or another.
While real estate agents will require a commission rate, that rate will be far less than the money you’ll lose trying to do things on your own. For instance, let’s say that your home will sell free $280,000.
If your real estate agent has a commission of 6%, they’re only going to be taken away $16,800. Imagine all the time you’ll save, and the security you’ll have for that cost!
Find a Hiring a Real Estate-Agent You Trust
Now you know the top benefits that hiring a real estate-agent brings to the table. Since finding the right real estate agent can take a little time, go ahead and start the hiring process now.
Prepare a list of questions that you’ll ask potential agents. Then check their social media page to see how they present themselves online.
Since you’re already in the process of setting yourself up for success, why not go one step further? Look around our website to see what other tips can make your life better.