There are many benefits to working with a quality, experienced Real Estate professional when selling a home. We are living in such challenging times right now - all the more reason to partner with an expert guide to assist through every step of the process.
The following are key considerations, especially for those who are thinking of For Sale by Owner (FSBO).
Safety is Priority One. The safety of a seller and their family must come first, especially now. An experienced agent has the proper protocols in place to protect the family’s belongings and also their health and well-being.
From regulating the number of people in the home at once to ensuring proper sanitization during and after a showing (and even facilitating virtual tours for buyers), an real estate professionals are equipped to follow the latest industry standards recommended by the National Association of Realtors (NAR) to protect everyone involved in home showings.
A Powerful Online Strategy is Essential. Before COVID, it was reported that 44% of all buyers began their home search online. Throughout the quarantine period especially, it jumped to 93%, and by now those numbers have grown exponentially. Most real agent agents have used technology and innovation to create a solid online presence and social media strategy, which is now more important than ever for attracting buyers to a home for sale.
So Many Negotiations. The number of people with whom to negotiate throughout the home selling process can be overwhelming at least to someone who opts to go it alone.
To name just a few, there is:
· The buyer, who wants the best deal possible.
· The buyer’s agent, who solely represents the best interest of the buyer.
· The inspection companies, which work for the buyer and whom will almost always find challenges with the house.
· The appraiser, if there is a question of value.
Experienced agents know these tricks of the trade as they’ve been trained well to both negotiate every aspect of the transaction and, mediate the emotions felt by buyers and sellers who are making some of the most important decisions of their lives.
Knowing if a Buyer is Qualified. Finding a buyer is one step and, determining if a buyer is qualified for a mortgage is yet another. A real estate professional knows exactly how to go about this process and is able to track the progress of a buyer’s mortgage commitment.
At this hour, the mortgage industry has its own unusual evolution going on, with unemployment and forbearance situations. An agent is working with lenders round the clock, understands current loan programs and business, and can ensure that your buyer makes it to the closing table.
For Sale By Owner has Legal Challenges. The number of Owner Sales over the last 20 years has dropped from 19% to 8%, largely because of legal implications. Society has become increasingly litigious while documentation for transactions has increased dramatically. As a third-party, the real estate professional can help the seller avoid legal jeopardy.
Higher Profit. It has been proven that for a myriad of reasons, FSBOs do not save money by forgoing the help of an agent, in fact they may net less money from the sale.
The main reason for this is effective exposure. Agents are members of MLS (Multiple Listings Service), and have professional access to many broker sites, all of which allows them to market to an expansive buyer pool.
The ultimate result is - the more buyers that view a home, the greater the chance of a bidding war taking place.
In general, it makes very good sense to hire an agent. The seller will very likely net more money than anticipated, while leaving all of the heavy lifting to an expert.