There’s a good reason why most buyers and sellers hire real estate agents when they’re looking to make a real estate transaction. This post is the first in a two-part series that looks at the finer details of the realtor’s function in the home-buying or home-selling process.
Here are 5 things your real estate agent does for you:
A real estate agent provides an expert appraisal. If you price your home too high, it may sit on the market for a long time and won’t attract buyers. An expert real estate agent has access to years’ worth of MLS data and will be able to use neighbourhood comparables and current trends to arrive at the right price for your home – and a marketing strategy to go with it.
A real estate agent markets your property to the right potential buyers. One of the most important aspects of the selling process is marketing – but not just to anyone. A knowledgeable real estate agent will know how to target their marketing efforts to the right potential buyers. They’ll understand how to use demographic and psychographic segmentation to build a buyer profile, and know how to reach those buyers via a variety of tools including flyers, print advertising and social media. They might even have one of their own buyers waiting in the wings to purchase your home!
A real estate agent project-manages the process. Selling a home is a process that involves a lot of moving parts and deadlines. It’s not just about taking photos and putting them up on the MLS. Here are some of the pieces your agent can project-manage for you: appraisal and pricing, pre-listing repairs on your home, staging, infrared floor plans, writing a compelling description of your home, professional photos, virtual tour, social media marketing, feature sheets, flyer delivery… the list goes on and on!
A real estate agent negotiates for you. Selling your own home is a bit like representing yourself in court: it’s possible, but most people don’t do it because they know there’s a good reason to have an expert on your side. Your real estate agent knows all the details of the law and government policy and is a trained negotiator. Even if you did decide to sell your home in a private sale, the buyer most likely has his or her own agent (it’s free to work with an agent as a buyer, after all), which puts you at a disadvantage.
A real estate agent manages the paperwork. From listing to offer to closing, any real estate agent knows that the process is paperwork-intensive. Your real estate agent will spend offer night negotiating the best price and terms for you, and ensuring that all paperwork is accurate, legal and binding. It’s a labour-intensive process that requires incredible knowledge and precision.
Has your real estate agent ever gone above and beyond for you? Let us know in the comments.