As people get ready to buy or sell a home, some wonder why they need to hire a Realtor®. What do Realtors® do other than showing you homes and arranging paperwork? We’ll explore how an agent can make your transaction easier and give you the market access necessary to get the job done.
Consumer sentiment about the value of an agent is clear – the overwhelming majority of the public believe that agents are overpaid and do not deliver the sort of added value that the costs suggest. One thing to consider though, is just because your Realtor® isn’t sitting directly in front of you, working, doesn’t mean they’re not taking steps to get you the best deal possible.
Check out these eight benefits of using a Realtor® instead of trying to sell your place or buy a house on your own.
#1) You Tap Into the Pricing Expertise of Your Agent
Your Realtor® is an expert in home prices for your area. They obsessively track the market and make note of any ups or downs that could affect your home’s value. As a result, they can make sure that your home is listed for an accurate amount that draws interest but still helps you sell for a strong price.
Many homeowners think they know how much their house is worth, but their emotions may cloud their perspective. Some fascinating work by behavioral economists coined this phenomenon, the Endowment Effect. By working with a Realtor®, you can develop an accurate, unbiased and realistic listing price.
On the flip side of this – sometimes homeowners err on the wrong side of the value equation and drastically undervalue their homes. A competent and ethical Realtor® can really help owners maximize their sale price in these scenarios.
#2) You Don’t Have to Vet Contractors On Your Own
As you go to sell your house, you will likely work with all types of contractors, home repair professionals, staging companies, title companies, appraisers, and inspectors. Instead of researching these people individually and reaching out to them on your own, tap into the network of your real estate agent.
One of the main benefits of using a Realtor® is their vast network of vetted contractors.
#3) You Learn What Sells in Your Area
Have you researched this year’s top home trends? Are you thinking about building a fire pit, painting everything grey or investing in solar panels to increase your home value? Something that’s a national trend might not be right for your area – or even your home.
For example, while going solar is a popular trend, the investment might not be right if you have an older roof that will need to be replaced in a few years.
Your Realtor® will walk through the process and give advice on what will help your home sell and what will be a waste of time and money.
#4) You Can Use the Multiple Listing Service
Let’s face it…”exchanges” where goods/homes/stocks are bought and sold tend to become natural monopolies. Ebay has no real competition because it makes sense that markets are more efficient when exposure is greatest. The MLS is an efficient exchange, where the greatest number of sellers and buyers can conduct business together. The multiple listing service (MLS) is a tool used to list homes and find others on the market. Having your home on the MLS increases its exposure, increasing the chances that someone will see it and want to buy it. You can also use the MLS to find potential homes that you want to buy. Access to this tool alone is one of the top benefits of using a Realtor®.
#5) You Approach Buyers With a Level of Authority
Understandably, some sellers are intimidated by the complexity of the transaction, after all, there are a lot of moving parts…timelines, legal disclosures, etc. When a skilled Realtor® is involved, a transaction just has an effortless flow to it – they manage buyer/seller emotions, transaction complexities, marketing and expectations. This moves the whole buying and selling process along smoothly, which everyone wants when they’re making a major life change.
#6) You Work With a Professional Negotiator
Some people avoid working with a real estate agent because they think their fees are too high. They want to save money by not paying a commission. However, this overlooks one of the main benefits of using a Realtor®. Your Realtor® is a professional negotiator and they will simultaneously fight for your interests and keep the deal from falling apart due to hurt feelings. Negotiating directly with a buyer or seller is difficult and last year EffectiveAgents.com’s top buyer’s agents managed to negotiate an average purchase price $12,000 under their average selling price! Having an experienced agent as a buyer is a no-brainer, typically the seller even pays the agent’s commission.
#7) You Can Follow Legal Rules and Regulations
Unless you went to school for real estate, you likely aren’t versed in the legalities of buying or selling a home. There are strict guidelines to follow and disclosures to make if you want to effectively navigate the process. This means you have two choices: learn these rules yourself or hire someone who already knows them. Required disclosures vary from state to state.
You don’t have to be a real estate expert. That’s one of the benefits of using a Realtor®.
#8) You Don’t Have to Worry About the Paperwork
Buying and selling a home comes with paperwork, there’s no avoiding it, but working with a Realtor® can reduce and organize the documents you’ll need to generate and execute. Your Realtor® will likely draft the sales agreement for you and work with a title company or attorney to prepare the closing documents when the transaction concludes.
An experienced Realtor® can save hours of time for sellers or buyers who don’t fully understand the nuanced process of exchanging the rights to a home.
Reap The Benefits of Using a Realtor® to Buy or Sell Your House
Some people balk at the idea of hiring a Realtor® because they’ve had negative experiences in the past. This doesn’t reflect the industry as a whole, but rather emphasizes the importance of having a good fit with whoever you work with.
Effective Agents is working to solve that.
Our tool uses a data-driven algorithm to pair home buyers or sellers with a top real estate agent based on their actual performance. We use multiple criteria to find an expert that works for you so you can finally work with a Realtor® who knows what you want and can help you get it.
Find a Realtor® who can make the buying or selling process easier for you.