Are you doubtful and in question of how a real estate broker can facilitate the transaction and sell or purchase of your next home? You are not alone. Signing a contract, agreeing to a percentage of your gains and entrusting a broker with your home are all intimidating notions.
What are my advantages in working with a Real Estate professional?
Access to the Multiple Listing Services, or as referenced by professionals as the MLS, is an advantageous facet that a seller obtains when listing a home with a real estate professional. The MLS is a large real estate database that will allow thousands of potential buyers access to your property's images, listing price, and other selling features. The MLS will publish the listing in the local market, as well as international and domestic websites that are linked to real estate marketing.
The "for sale by owner (FSBO)" will save you commissions for both the buyer and seller's agent(s), but what many sources do not cite is the advocacy gained by hiring a real estate professional.
What is real estate advocacy and why is this important for selling my home?
In 2016, I sold my home and was the seller's agent; thus, listing, negotiating, marketing and selling my own property. I procured $4500.00 more at the closing table because I was working for myself alongside the buyer's agent.
This is my profession-- this is my agency; however, it was an unfavorable experience because of the negotiations and selling process. It is a customary mindset that a seller holds his or her own agenda, specifically regarding profits and this mindset can have an adverse effect when working for yourself through a FSBO property.
Inspections: What is a "Response to Inspection" and how does a real estate professional facilitate the inspection's process?
The inspection's process can be grueling and can cost you thousands of dollars in repairs and replacements. Inspectors are a third party individual or company hired by a buyer to perform a thorough inspection of the home. When negotiating the response to inspection, sellers must make an effort to create a safe environment for the new buyers; therefore, your agent's experience and training in working with other real estate professionals will ensure that you, as the seller, are not losing thousands of dollars of your profits over trivial matters. Your agent will work with the buyer's agent to reach an ultimate agreement and this advocacy will afford you and your buyer with a non-biased approach to the inspection's procedure.
What is my next step in the hiring and listing process?
There is no uniform or common approach with real estate procedures regarding marketing and listing homes. If you are confident that hiring an agent is the best method to sell your home, here are a few tips when hiring an agent:
- Interview four to five agents. Agents will offer diverse marketing methods, and may suggest a lower or higher listing price. When interviewing real estate professionals, keep in mind that communications between yourself and the agent will have a great influence with your selling experience. Here are a few questions to ask the potential seller's agent:
- What is your marketing plan when selling my property?
- What type of photography do you plan to use when listing my home on the MLS?
- What are the terms of my listing contract and how long will the contract be in effect?
- What is your commission and what is the buyer's agent's split?
- What are a few characteristics about your listing and selling approach that differs from other agents?
- Research the history of sales, website strategies, and the agency's marketing. Real estate marketing, specifically, easy-to-obtain online links and access to the listings will allow you to see how the professional will market your home and if access to future buyers will encourage a quicker sale for you!