Feb. 3, 2020
It may be your first house, your dream home, or an income property but when you decide to break up with your home it can be an emotional and challenging experience.
Chances are your house is not merely a place that you've lived in; it's your home. It's the place where you’ve spent your time day in and day out, created countless memories in, and perhaps even the place where you raised or started your family! All of these issues cause for added stress during the selling process.
In this article, we'll explore how a Realtor® can make this life transition a much less stressful experience and produce the most optimal results for you! Their industry expertise will allow you to focus on the bigger picture of getting your home sold for
1)The Highest Price
2) In the Shortest Period of Time
3) With Limited to No Stress
That means a higher net profit in a much shorter period of time, maximizing your return.
1) Sell Your Home for More With a Real Estate Agent
A 2019 study indicated that agent listed homes sold for 23% more than "for sale by owner" properties in the same market. For the Brevard County market, the Median sale price of properties sold using a Realtor® was $235,000, and the average sale price of "for sale by owner" or FSBO properties was $180,950. That’s 23% increase in median sale price for properties listed with a Realtor®!
Tap Into the Home Pricing Expertise of Your Agent.
Most homeowners have a good idea of how much their house is worth, but their emotions, blind spots, and inaccurate data 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.
Realtors® such as our amazing team at CENTURY 21 Ocean, know the Brevard County neighborhoods, the current Brevard County market conditions, and they know all the comparable housing data you’ll need to sell your home at the highest cost possible.
All of these things factor into pricing your home accurately. A Realtor® is an expert in home prices for your area and can provide you with access to accurate sales data and professional advice to arrive at a fair market value for your listing price.
When you work with an agent they will help walk you through the amount you would like to sell the home for and compare that to what other homes are selling for right now, and together, you can come up with the best initial listing price for your home. Your Realtor® wants you to get the highest possible price for your home, but they will have a realistic perspective that an emotionally attached seller may not have. Using a professional Realtor® gives you someone emotionally removed from the situation that's still on your side. Realtors® are an invaluable resource to have when trying to price your home accurately.
Online home pricing estimates are precisely that, estimates based on location, and square footage guesstimates. This method of pricing is not nearly as accurate as an actual market analysis conducted by professionals such as our Century21 OCEAN team - that will give you an honest, precise price opinion based on their market assessment, and years of experience. They will base their assessment on a very detailed comparative market analysis and a visual inspection of your home and then compare that data to the current market inventory to help accurately formulate the optimum initial listing price.
Realtors® also, actively track local and national real estate market conditions, and have knowledge of potential market conditions that could affect your home's value and salability, ensuring that your home is listed for the most accurate listing price to draw buyer interest and help you sell for the best possible price.
2) Time on the Market
On average, for sale by owner or FSBO homes take 19 days longer to sell than homes listed with an agent.
Multiple Listing Service (MLS)
Realtors® have access to their Multiple Listing Service (MLS). The MLS is the industry database of current homes for sale. Having your home on the MLS greatly increases your listings market exposure leading to more showings and more offers. By hiring a Realtor®, information about your home will be instantly available to all the real estate agents in your area, and buyers' agents will bring your home to their clients' attention. Access to list your home in the MLS is one of the top benefits of using a professional Realtor®.
Realtors® Know What to Look For
Your Realtor® will be alert for issues that you may not have considered, such as furnace or HVAC issues, plumbing leaks, roofing problems, potential mold, and insect issues. A Realtor® will recognize the telltale signs of these problems and know how best to approach each situation and protect yourself through legal disclosure. Your Realtor® will be able to provide referrals of qualified home inspectors and contractors should your home need additional inspections or repairs.
Some sellers are intimidated by the complexity of modern real estate transactions; after all, there are a lot of moving parts, legally binding contracts, timelines that have to be met, and legal disclosures. When an expert Realtor® is involved, a transaction has a seemingly effortless flow to it. They will manage negotiations, transaction complexities, marketing, and client expectations. Having a professional real estate agent moves the whole selling process along smoothly within the transaction timelines.
An experienced Realtor® can help you get your home ready to sell, address any housing-code or zoning violations, and suggest improvements to help your home sell for the highest price possible.
Your Realtors® experience and knowledge can end up saving you thousands of dollars in the selling process.
3) Avoid Seller Stress.
Don’t Sweat the Paperwork
Selling a home comes with a lot of paperwork, there's no avoiding it, but your Realtor® can organize, prepare, and execute all of the documents you'll need to complete your transaction. Your Realtor® will draft the sales documents for you and work with a title company or attorney to prepare the closing documents to finalize the transaction.
In this day and age, the process of purchasing a home can include ten or more page purchase agreements, federal and state-mandated disclosures, or local disclosures. One mistake or unsigned document can lead to complications that may hinder, or even derail the sale process. When you hire a Realtor®, they are responsible for helping you complete the necessary paperwork and meet all of the transaction deadlines.
Attention to Detail
You may be out of your area of expertise when it comes to reviewing and understanding the stacks of contracts and legal documents involved in a real estate transaction. You should have a thorough understanding of all of the required documents that you agree to. Purchase agreements alone can easily top 10 pages, not to mention all of the federal, state, and local document requirements.
Luckily, your agent will be familiar with the required paperwork and will be able to explain it to you in detail. Mistakes or omissions in these legally binding documents can cost you thousands of dollars or the loss of a sale.
Connections are Key
When planning to sell your home, you may need the assistance of other housing professionals, including; inspectors, contractors, and moving companies. With the help of a trusted Realtor®, you will have an easier time finding professionals that are licensed, qualified, and well respected.
Follow Laws, Legal Guidelines, and Regulations.
You likely aren't versed in all of the current laws and legalities of selling a home in today's ever-changing real estate market. There are strict guidelines to follow and legal disclosures to abide by to navigate the selling process effectively. Required disclosures vary based on location, and you have two choices: learn these rules yourself or simply hire someone who already knows them and navigates them daily.
Issues After Closing.
Many issues can pop up after a closing that might have been overlooked during the selling process. A Realtor® will remain as a point of contact for these questions even after you have sold and closed on your home.
Privacy, Confidentiality, and Fiduciary Duty
Your Realtor® always has your best interest in mind. Realtors® have a "fiduciary" responsibility to their clients and are legally obligated to put their clients' best interests first and foremost. This duty imparts a very high standard for confidentiality and expert professionalism.
You Don't Have to be a Real Estate or Legal Expert. That's another of the many benefits of using a Realtor®. An experienced Realtor® can save countless hours and thousands of dollars for sellers who don't fully understand the nuanced process of executing contracts and legally transferring the rights to a home.
The Bottom Line
When preparing to sell your home, a Realtor® will have the industry knowledge and experience you may lack. Hiring a professional Realtor® will relieve that burden and make the process of selling your home a much simpler and more profitable experience.
There’s a lot that goes into selling a house that most people may not have considered. Realtors® do much more than just property showings for potential buyers and running legal documents around to get signed. They know all the ins and outs of selling a home specific to your market and the current market conditions. Having a professional Realtor® on your side to assist you in the sale of your home is an invaluable advantage.
The research is conclusive, hiring a Realtor® to sell your home will lessen the stress of selling while getting your home sold for a higher net price.
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