There are two ways people sell their homes; some hire a realtor to handle it for them while others choose the FSBO (For Sale By Owner) route. One of the questions that ring in the minds of those who choose the FSBO route is, are the services of a realtor really worth the 6-7% commission he’s charging? Can the realtor help me sell the house faster than I would on my own? Well, the answer is a resounding yes and here’s how they do it:
Education and Experience:
Selling a home is a long and complicated process that is governed by many laws that you must be familiar with if you are working alone. Most reputable realtors have gone to school to study real estate and have learned some special skills that will put them in a better position to sell your home quickly. Some of the tricks Realtors use to sell homes take years of practice to perfect. The experience they have also helps them make informed decisions in order to choose the right course of action that will help them sell your home quickly.
Price Guidance:
A real estate agent can help you set a reasonable price for your home that is neither too high nor too low. A lot of homeowners set a high price because they think their home is more valuable than it really is while others set a price that is too low in an effort to attract more buyers. A realtor will use his knowledge of the market and hard facts to advise you on the right price for your home.
Market Knowledge:
An experienced real estate agent should be aware of the different forces that control your local real estate market. They can advise you on the current market conditions so that you know how to proceed. Data like the average sales prices, the average size of similar homes, average days on market, among others can help you know how to proceed. For instance, if your home is in a buyer’s market, your realtor can advise you on how to gain a competitive edge over the many sellers you will be competing with.
Professional Networking:
Real estate agents are highly connected with other agents, contractors, designers, conveyancing lawyers, among other professionals in the industry who you will need when selling. A realtor can use his network to find a buyer for your home after just a few phone calls.
Negotiation Skills:
Negotiation is an art and in real estate transactions, how good you are at it can determine how fast you sell and for how much. Poor negotiating skills can cost you thousands of dollars if you sell too low or even make you lose out on a deal. Unlike buyers or sellers, real estate agents can negotiate without letting emotions get the better of them. A good negotiator knows how to get and keep potential buyers at the table and how to get results quickly.
Resources:
When you hire a realtor, you get more than just the person. The realtor will need help from his assistant, the advertising department of their firm, multiple listing service access, among other resources that will expedite the home selling process.
Final Word:
You might do just fine selling your home on your own but the chances of that happening are slim. Either you will end up selling your home for a lower price than you should or it will take too long to find a willing buyer. A realtor will use their knowledge, experience, and resources to not only sell your home quickly but also to get you the best price possible.