For as long as anyone can remember people have been looking for a way to sell their homes without engaging the services of a real estate agent. They are driven of course by an impulse to keep more of the proceeds from the sale. But while this desire is certainly understandable the facts don’t support the notion that you’ll wind up with more in your bank account if you handle the sale yourself. In fact, the opposite is usually the case. Why is that? Well there are a lot of reasons for it and in this article we’re going to look at 17 of them.
Table Of Contents
- Why Do I Need a Real Estate Agent?
- 1. Experience
- 2. Expert House Prep Advice
- 3. Local Knowledge
- 4. Price Guidance
- 5. Information About Current Market Conditions
- 6. The Multiple Listing Service
- 7. The Right Personality
- 8. Professional Networking
- 9. Negotiation Skills
- 10. Access to Home Inspectors
- 11. Grace Under Pressure
- 12.Experience with the Paperwork
- 13. Strength in Numbers
- 14. Address Post-Closing Questions
- 15. Like Having a Lawyer in Your Corner
- 16. Referrals Make the World Go Around
- 17. Bottom Line Motivation
- FAQ for your Real estate agent Davenport
- How much experience do you have?
- Are you a full time agent?
- How many homes have you sold in the past year?
- How many homes have you sold in the neighbourhood?
- How do you plan to market my home?
- What do you see as the weakest aspect of my home?
- How many clients do you currently have?
- Do you have references?
Why Do I Need a Real Estate Agent?
The notion that someone might be better off handling the sale of their home themselves has been kicking around for decades and it’s no more accurate today than it was in your grandparent’s day.
Below are 17 reasons why it’s better to work with an agent.
Let’s start right off with what is probably the most important reason for hiring a real estate agent. They have valuable experience you do not. Would you trust a realtor to take your place at the office and do as good a job as you do? Of course not. And why not? Because they don’t have the experience you do. They would be coming in cold and trying to learn as they go. Maybe in a year or two or five they may approach your level of expertise. Then again maybe they never would. It’s the same with real estate. You are probably a really smart, savvy person but if you don’t have the experience in the field chances are your efforts are going to come up short compared to what a seasoned pro could do.
2. Expert House Prep Advice
Experienced real estate agents know the value of preparing your Seaton Village or Christie Pits house to accept potential buyers. They know the value of home staging and can explain this important aspect of the sale process to you and either recommend a stager for you or guide you through the process themselves. Home staging has been proven to increase sale prices and no one who is serious about optimizing return on their real estate investment will consider entertaining potential buyers until their home is properly stage.
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3. Local Knowledge
If you have lived in the same house for many years you may have a certain level of local knowledge that you feel will aid you in your efforts to sell the house yourself. However, there is a difference between being on a first name basis with everyone on your block and knowing which houses in the neighbourhood have sold in the past few years for how much and why they achieved or didn’t achieve the sale price they were looking for. Agents are plugged into the local real estate market and make it their business to keep track of things like asking prices, time the home took to sell, selling price, mitigating circumstances and more.
4. Price Guidance
Many people believe that the agent selects the asking price and so they are reluctant to cede this part of the process to a stranger. But the fact is it’s not the agent who selects the selling price, it’s the seller. The agent will typically suggest a number of different potential prices – or a price range – based on the market. It will then be up to the seller to decide how much they want to ask. A responsible agent will tell a client if they believe their asking price is unrealistic. They will also offer advice on any upgrades the homeowner may want to engage in in order to raise the price they are ultimately able to ask for the house. Read more about CMHC Insurance Calculator
5. Information About Current Market Conditions
In addition to knowing the history of recent sales in Davenport or any other area the agent will also be up to date on all the latest market news that might have say in governing the asking price for your house. They’ll know which houses in your area are currently on the market, how much the sellers are asking, how long they’ve been on the market unsold and what might be holding things up. All this information will help you determine if now is the right time to sell and how much you should be asking. The maxim “knowledge is power” was never more applicable than when it comes to real estate.
6. The Multiple Listing Service
A professional real estate agent will have access to the Multiple Listing Service or MLS. The MLS represents a nationwide database of homes for sale that agents use to help determine a property’s value. It can also be used as a platform for connecting with a vast network of potential buyers, not just those in your neighbourhood or city.
7. The Right Personality
Not everyone was born to sell things. In fact most people are no better at the fine art of selling than they are at high jumping or furniture making. If you were careful in your selection of an agent however, you found one that possesses an easy going sophistication and personality that dovetails with yours. Working with them is then a breeze rather than a struggle. Being able to put potential buyers at ease is crucial if you are to realize your asking price. And the ability to do that is something the best agents possess.
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8. Professional Networking
Real estate agents network to a degree most others only dream about. They are constantly in touch with other agents, appraisers, home stagers, contractors, inspectors and more and they put in long hours at open house events and on the phone. Basically they eat, sleep and breathe real estate and you wind up the beneficiary of their dedication. They can point you in the right direction should you need work done on your home before you put it on the market or you need an appraisal or a home stager or a hundred other things.
9. Negotiation Skills
When it comes to finding solutions to vexing issues it always pays to bring in a negotiator who is not personally involved in the situation. And that’s true whether the subject is politics or home sales. The real estate agent is not emotionally involved with the transaction the way the seller (who has developed a connection to the house) or the buyer (who wants to be able to establish a connection with the house) is. Therefore he or she is able to simply focus on the transaction itself. The best agents are the best negotiators who possess the above mentioned personality as well as the comprehensive market knowledge that allows them to act as a tugboat guiding the sale to a pleasing conclusion for everyone. Read more Guide to Choosing a Real Estate Agent by Etobicoke Real Estate agent Leslie Brlec
10. Access to Home Inspectors
Your real estate agent will likely be able to provide a referral to a qualified home inspector or two who can let you know what issues you may have to deal with before putting your home on the market. If you discover you’ll need some repair work they may also be able to suggest various contractors they know to be both reliable and affordable. Because of the state of liability law they may not be able to give you a direct recommendation but they should be able to at least point you in the right direction.
11. Grace Under Pressure
The Nobel Prize winning writer Ernest Hemingway defined courage as “grace under pressure”. While courage may be too strong a word to use when discussing real estate transactions the need for grace under pressure – when the buyer is pressing you to accept an offer or other extenuating circumstances threaten to complicate matters – is extremely important. This will be where you agent’s experience is an invaluable asset.
12.Experience with the Paperwork
If there is one thing a real estate sale will generate, it’s paperwork. The amount can be daunting for someone with little experience in such matters and each piece must be carefully considered, thoroughly examined and fully understood before you affix your signature. Your agent has made a career of handling the mountains of paperwork that accompany a home sale and they’ll be able to guide you every step of the way to ensure a happy outcome.
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13. Strength in Numbers
Real estate agents will sometimes arrange a special showing of your home to which only other real estate agents are invited. The idea is to put your home solidly on the radar of these other agents and by extension, on the radar of their home-buying clients. This is the kind of networking event a private seller simply can’t arrange and one that can open doors to a slew of potential buyers.
14. Address Post-Closing Questions
It is unwise to think that simply because the papers have been signed and the handshakes shared that that’s it as far as a home sale is concerned. Even the easiest, most agreeable transactions can rear an angry head after the fact because of something that may have been overlooked. Your experienced real estate agent has seen it all and is the person you want in your corner should after sale issues arise.
15. Like Having a Lawyer in Your Corner
A veteran realtor has had a lot of experience working with real estate lawyers. While that doesn’t mean they are qualified to give you legal advice they can alert you if something comes up during the sale that they think is legally questionable or they believe may put you in a legally compromised position. If circumstances call for it you can then enlist the services of a real estate lawyer before things get out of hand.
16. Referrals Make the World Go Around
Real estate agents live and die to a certain extent on referrals. If every real estate agent had to survive based only on their ability to consistently drum up new business the job would be much more difficult than it already is. A happy client then is one who will refer the agent to their family member, friend or neighbour. So it is in the best interest of the realtor to do a great job and produce smiles all around.
17. Bottom Line Motivation
The best agents love what they do but they’re also motivated by the same instinct you are; the desire to make as much as possible off the sale. Far from being a negative that sort of drive in the hands of an experienced negotiator with wide ranging market experience is going to yield a higher selling price than if you tried to move the house by yourself. Typically the difference will be such that even after the commission is taken into account you’ll wind up with more than you would have if you had sold the house yourself.
While working with an agent is almost always the right thing to do that isn’t to say that you should pick one by searching for real estate agents near you and then selecting whomever shows up at the top of the search results. They may be there because they are incredibly talented and do right by their clients time and time again. Or they may be at the top of the search results because they have a talented SEO professional working for them. It’s impossible to tell from a distance.
So just to make sure you wind up working with the right real estate agent here are some questions you’ll want to ask a prospective agent before you agree to take them on.
FAQ for your Real estate agent Davenport
How much experience do you have?
Sure, everyone has to start somewhere but you don’t want a novice handling your home sale. Although new agents are typically eager to make an impression you’ll want someone with experience in all facets of the process working with you.
Are you a full time agent?
There are quite a few people for whom real estate sales are a part time job. Some sell real estate as a second job while others do it just to have something to keep them busy. If at all possible you’ll want someone for whom real estate is their primary career.
How many homes have you sold in the past year?
While the number itself usually isn’t enough to base a decision on (unless of course the number is 0) it will give you some indication of whether the agent is a) able to give you the time and attention you deserve and b) whether they have the ability to get the job done.
How many homes have you sold in the neighbourhood?
If an agent has done a good job for one of your neighbours in Christie Pits or Davenport the word will typically spread and they’ll secure other sales in the neighbourhood. So if the agent can state that they have sold a number of homes near you it’s likely a sign people are happy and referring him or her.
How do you plan to market my home?
There are a lot of things an agent can do to market your home. The MLS will come into play as will the Internet to name two. How many real estate sites will your home be listed on? Marketing can make the difference between achieving your target price and missing it.
What do you see as the weakest aspect of my home?
A good real estate agent will see the entire picture. While they’ll focus on the strong points when talking to potential buyers they should know what the weak points are as well so they can advise you whether you need to deal with them or not.
How many clients do you currently have?
This is another question that speaks to the agent’s ability to give your sale the time and attention it needs. Good agents are busy people. The best never take on more than they can handle well.
Do you have references?
You’ll want to speak to at least 3 homeowners the real estate agent has represented in the past year. Did he or she do a good job? Were they easy to reach? Did they have answers to your questions? Did they provide you sound advice?
When it comes to selling your home choosing to go it alone is one of the riskiest decisions you can make. That is not to imply that you wouldn’t be able to do a good job if you had proper training and experience but chances are you don’t. Which means you’d be learning on the job. In some cases that’s fine except we’re not talking penny stocks here. We’re talking about the largest single investment you will ever make. There are too many things that could go wrong with a home sale to risk it all. Instead, engage the services of a qualified real estate agent like Rito Salvador and sleep well at night knowing your Seaton Village, Davenport or Christie Pits home is in good hands.
Contact Rito Today @ 416-727-0094
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