One and Done: The Single Step Needed to Sell Your Home:
Many home sellers and buyers are not aware of the true value that a Realtor provides. Many people are not conscious of the expertise, professional knowledge and hard work that goes into bringing about a smooth, successful real estate transaction. There are many important services and steps which are required and carried out by a Realtor. However, most of these steps, while vitally important, are taken for granted by the public or they are simply unaware that the realtor is the facilitator that gets them done. Otherwise the transaction could be placed in jeopardy or not occur.
Selling a home takes time, knowledge of neighborhood trends, negotiating skills and a myriad of other abilities besides amicable rapport with all the other professionals and participants involved.
Initially, it is important to note that Realtors have taken an oath to subscribe to a stringent, enforceable Code of Ethics with Standards of Practice that promote the ethical and honest treatment of all parties involved in each transaction.
Keep in mind that Real Estate Licensees, (those who have a state issued license but are NOT members of a Real estate Association) are not bound to the ethical practices and principles set forth in the Realtor Code. In addition, mandatory Continuing Education for Realtors offers a wealth of training to members which help assure Realtors serve their clients with the level of skill, knowledge and attention to detail required in today’s ever changing real estate market. This continuing education underscores the importance of having help and guidance from someone who fully understands the process, a Realtor.
If eliminating the agent’s standard commission, (5% - 6% of the sale price on average) sounds tempting, try to sell without one! There is a reason or should I say reasons, why it just makes sense to at least interview one to see what they can provide.
The agent’s chief tasks are to help set the right price so your home does not sit on the market and become an afterthought then get buyers in the door to make offers.
They have access to the most up-to-date information about recent sales and comparable homes (comps) and competing listings in your neighborhood which allows them to help you arrive at the right price.
The market shifts every day so it’s the agent’s job to keep abreast of those changes.
A good agent will market your home aggressively. This includes:
- Recommending staging techniques to make the home look great;
- Maximizing the listing with quality photographs;
- Holding open houses for maximum exposure;
- Showing the home to prospective buyers.
Perhaps most importantly, the agent will evaluate potential buyers so you only deal with serious prospects.
Once a qualified buyer is found, the agent will negotiate offers and counter offers, track and/or complete paperwork and generally oversee the transaction through the most nerve-racking part of the process.
If you’re determined to “go it alone”, consider this, almost 90% of sellers use a real-estate agent. Think hard about the time and effort you want to spend, particularly if the process drags on. The average home takes about four months to sell according to the National Association of Realtors, (NAR) or longer in slower markets.
To go one step further or should I say 200 steps further, when thinking about selling your “house”, (and we use the term “house” intentionally because if you’ve decided to sell your “home” you must now think of it as a commodity which you intend to market) bear in mind that there could be as many as 200 typical actions, research steps, processes and review stages necessary for a successful residential real estate transaction that are provided by a full-service real estate brokerage in exchange for a commission. Depending on the transaction, some of these steps may take minutes, hours or even days to complete, while some, of course, may not be needed.
By the way, that number does not include the many phone calls, facsimile and/or text messages or emails necessary to communicate the wants and needs of all parties involved and to keep everyone abreast and up to date.
The bottom line is, if you’re thinking of selling your house, it benefits you to contact a Realtor. Contact us to get more information about these and the many other reasons why it’s a smart move to maximize the value of your investment.
We’d like to know: Give us your top three reasons as to why you would NOT want to use a Realtor in what is, perhaps, the first or second most important investment you will ever make?
Also, in a recent study, ClosingCorp of San Diego showed that the chief source of financial information comes from realtors as there is a distrust of the lending industry because of the recession. For instance, if a millennial does not know anything about closing costs, which in this particular instance is the rule rather than the exception, they prefer talking to a real estate agent rather than a lender. As a result, the public is more reliant than ever on the knowledge and experience of realtors.
We can help with all you real estate needs, so don’t hesitate to contact us. Rather than being considered obsolete, realtors are realizing new found appeal primarily from Millennials, (those Americans between the ages of 20 and 34). Raised with smartphones and the internet, millennials are a different breed of consumer. They are tech-savy but needi
Here are some interesting statistics relative to the use of today’s technology in conjunction with the need for a realtor to help you sell or buy a home:
94% use websites to search for real estate;
90% of millennials use agents;
50% found their agent through friends or relatives, (a much higher proportion than other generations);
70% would use agents again or recommend them to others;
75% rely on agents to help them understand the process of buying or selling a home