Just like the final episode of your favorite television series, putting up your home for sale can be bittersweet. Nonetheless, there is no time for melancholy since you’ve got lots of things to think about: attracting prospective buyers, nailing down the best deal, and (sigh) relocating. It’s at this point where a few people may ask themselves, “Why Use a Realtor?”
Since selling your home will be just as hard as it’s emotional, you need an unbiased guide – a realtor – to keep you on course. So, before you put up a large “For Sale by Owner” sign on the front yard, take a look at the following reasons why using a realtor might be the smartest move:
1. Price Guidance
Deciding how much a home is going to sell for is one of the major dilemmas that many homeowners face during the home selling process. How you price your home not only determines whether you’re getting the right amount for what your home is worth, but it also determines how long your home sits on the market.
According to a Trulia Research Report, the list price of an FSBOs is about 2 percent more than a realtor-listed home and tend to sit on the market longer. With the help of a realtor, you will not have to undervalue or overvalue your home. A realtor will offer price guidance and help you determine a reasonable asking price for your home.
Besides having up-to-date information regarding the local marketplace, a realtor will also be conversant with the financing, terms and conditions of competing properties in the area. Furthermore, the realtor can recommend repairs and cosmetic works that can help to boost the value of your home.
There’s a lot that goes into marketing a house for sale, from buying newspaper and magazine ads to adding the house to listing sites to laying out business cards and flyers around town, etc. Whichever marketing strategy you adopt, the goal here is to stand out, get attention, and most importantly, close a deal as quickly as possible. But truth be told: marketing a home is an enormous task for a homeowner. Not for a realtor, though.
There are two reasons why marketing a home through a realtor is as simple as 1-2-3: Marketing know-how and professional networking. Firstly, a realtor is a marketing guru who knows how, where and when to advertise. This means that they know which format, medium, and frequency will work best for your home and market.
Secondly, a realtor networks with many other people who can tell other people about your listing. A study by the National Association of Realtors reveals that about 82 percent of real estate sales are as a result of agent contacts from other realtors, former clients, referrals, family, and friends. The more people get to know that you are selling, the faster your home will find a buyer.
3. Negotiation Skills
Most of the buyers you will come across will undoubtedly want to get the most while spending the least. Closing a deal with a frugal buyer will be tricky business. Moreover, many of the prospective buyers you will encounter will have realtors in their corner to negotiate a favorable price for them. Such a situation makes it imperative for you to have an equally aggressive realtor on your back.
Two things put realtors in the best position to negotiate a good deal for home sellers. Firstly, realtors are capable of removing themselves from the emotional aspects of the transaction. Secondly, realtors are skilled negotiators. It is part of their job description. A good realtor will not only present your case in the best light, but they will also keep your information confidential.
Unlike in the past when 1-page deposit receipts were enough to seal a deal, today’s sale agreements run ten pages or more. There is a lot of paperwork to handle, which can make selling your Minnesota home a challenging and lengthy process.
Like in many states, home sellers in Minnesota are obligated to disclose various issues that could affect their property’s desirability or value. One small omission or error could cost you thousands or even land you in jail.
The good thing about hiring a realtor is that they can guide you on the legal obligations you are required to fulfill, thus prevent you from getting on the wrong side of the law. Besides helping you handle volumes of paperwork, your realtor can straighten up issues regarding property tax assessments, transfer tax, and doc stamps, etc.
Conclusion: Why Use A Realtor?
The benefits of hiring someone who has more skills and experience than you are obvious. Utilizing a realtor to handle the intricate sale process enables you to close the chapter on your old home without stress. Be sure to contact a Minnesota realtor today and watch your home sell fast and at the right price.
About Transition Realty
Transition Realty owner Steve Lehmeyer specializes in helping people manage real estate transactions in the Minneapolis/St. Paul area. His experience in the Minnesota real estate market spans 20 years. Steve and his team work with clients to buy & sell single family homes, townhouses, condos, lake homes, and investment property. Download a free home search app for your smartphone or search the MLS at TransitionRealty.com.