It might be tempting to think of selling your house by yourself, particularly given how hot the housing market has been over the last two years. Working with a real estate professional is now more important than ever since the market is at a turning point.
A reliable real estate adviser will not only keep you informed and assist you in making the best choices possible based on current market trends, but they are also skilled in handling the numerous details involved in selling your house.
Here are five key reasons why working with a real estate professional makes sense today.
1. A Professional Follows the Latest Market Trends
With higher mortgage rates, rising home prices, and a growing number of homes for sale, today’s housing market is showing signs of a shift back toward more pre-pandemic levels. When conditions change, following the trends and staying on top of new information is crucial when you sell.
That makes working with an expert real estate advisor critical today. They are familiar with your local area and keep up with current events on a larger scale. More significantly, they'll be able to assist you navigate the market as it changes and make the greatest choice for you since they'll understand what this data means for you.
2. A Professional Helps Maximize Your Pool of Buyers
Your agent’s role in bringing in buyers is important. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house is viewed by the most buyers. Investopedia explains why it’s risky to sell on your own without the network an agent provides:
“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home. A smaller pool of potential buyers means less demand for your property, which can translate into waiting longer to sell your home and possibly not getting as much money as your house is worth.”
3. A Professional Understands the Fine Print
Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors (NAR) explains it best, saying:
“Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”
A real estate professional knows exactly what needs to happen, what all the paperwork means, and how to work through it efficiently. They'll guide you through the paperwork and assist you prevent any costly errors that could happen if you try to manage it on your own.
4. A Professional Is a Trained Negotiator
If you sell without a professional, you’ll also be solely responsible for all the negotiations. That means you’ll have to coordinate with:
- The buyer, who wants the best deal possible
- The buyer’s agent, who will use their expertise to advocate for the buyer
- The inspection company, which works for the buyer and will almost always find concerns with the house
- The appraiser, who assesses the property’s value to protect the lender
Lean on a professional rather than battling all of these parties by yourself. They'll be aware of how to handle everyone's worries, what levers to pull, and when you might want to seek out a second opinion.
5. A Professional Knows How To Set the Right Price for Your House
If you sell your house on your own, you may over or undershoot your asking price. That could mean you’ll leave money on the table because you priced it too low or your house will sit on the market because you priced it too high. Pricing a house requires expertise. NAR explains it like this:
“A great real estate agent will look at your home with an unbiased eye, providing you with the information you need to enhance marketability and maximize price.”
Real estate experts are knowledgeable on how to effectively and competitively price your house. To achieve this, they take into account the present state of your home and compare it to previously sold properties in the neighborhood. These steps are key to making sure it’s set to move quickly while still getting you the highest possible final sale price.
A real estate agent offers critical insights you'll want to depend on throughout the transaction, whether it's monitoring regional and national trends, assisting you through a changing market, or pricing your home appropriately. Avoid going it alone. If you intend to sell, get in touch with a local real estate agent so you have a professional on your side.
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