Benefits Of Hiring A Professional Listing Agent
Why should anyone bother about hiring a professional real estate agent when planning to sell a home? Considering the tons of information online and property listing websites, it seems pretty easy to list your home all by yourself and sell it. Some homeowners have actually listed and sold their homes all by themselves, while many others who made similar attempt failed. So if you’re planning to sell your home, should you hire a professional listing agent or not?
Why you should hire a professional listing agent to sell your home
1. Market conditions information
Professional real estate agents understand the property market condition and they follow real estate trends. Whether you like it or not, the market condition will affect the sale of your property. Information such as the average per square foot cost of similar properties, median and average sales prices, and average days on the market, and ratios of list-to-sold prices, among several other things will affect the how you list and sell your property. Without a listing agent, you may lack the current knowledge of the market and end up making decisions that will do more harm than good to your property listing.
2. Best pricing
When homeowners list their homes themselves, they either overprice the property or underprice it. Overpricing the property means it will stay longer on the market, underpricing it means the homeowner will be at the losing end. A professional real estate agent will guide you on the right price for your property. There are several factors that come into play when pricing a home for sale including location, market data, condition, neighborhood and age. A professional real estate agent knows exactly how these factors affects property pricing.
3. Handling negotiations
Professional real estate agents negotiate brilliantly because they have the skills and experience. Unlike the homeowner, they aren’t emotionally attached to the property. This makes it easier for them to negotiate appropriately. Besides, listing agents are trained to present their client’s case in the best light and they’ll do all they can to ensure you sell your property at the right time and price.
4. Neighborhood knowledge
Professional real estate agents always have very good knowledge about your neighborhood or they know where to find the right data. They know exactly how to find comparable sales and transfer this data to you after analysis so you can make an informed decision. Real estate agents can find relevant data such related to schools, crime or demographics. For instance, you may be aware that a home down the street was listed for $450, 000 but a real estate agent will know it had upgrades and was eventually sold at $385,000 after 60 days on the market and after falling out of escrow three times.
5. Handling all the paperwork
Without a real estate agent, odds are you may run into trouble with all the paperwork involved in selling a property. Today’s purchase agreements run ten pages or more. That does not include the federal- and state-mandated disclosures nor disclosures dictated by local custom. Most real estate files average thicknesses from one to three inches of paper. One tiny mistake or omission could land you in court or cost you thousands. In some states, lawyers handle the disclosures.
6. After sales services
Many real estate transactions that end without any complication often come back to haunt. For instance, taxing authorities that collect property tax assessments, doc stamps or transfer tax can fall months behind and mix up invoices, but one call to your agent can straighten out the confusion. Sometimes, the new buyer or their agent may start asking questions after the sales, if you hire a real estate agent, he or she will defend you all the way and prevent anyone from taking advantage of you.
Bottom line
Before you make up your mind to list your property all by yourself weigh your options carefully. So you won’t end up doing yourself more harm than good. Many homeowners who list their properties themselves often end up hiring a real estate agent after going through a lot of trouble. So make up your mind early so you can sell your home faster and at the right price.