Top 12 Reasons For Hiring A Realtor When Selling a Home
Do you know that 80% of home sellers work with a realtor while selling a home? Marketing your property, finding the right buyer, and negotiating the final deal is overwhelming. A real estate professional can help you through the process. When you work with an expert realtor like Labrosse, you can leverage his skill and expertise to choose the right buyer and secure the best possible price and favourable terms.
This article will list 12 reasons why you need to work with a realtor while selling your home.
Who Is A Realtor?
First thing first, let us discuss who is a realtor. A realtor is a licensed professional who can represent a buyer or a seller in the housing market. He guides the people through the confusing real estate landscape. A realtor can help a seller market her property and find an appropriate buyer.
In Canada, a Realtor has to be licensed to practice real estate. He also needs to be a member of the Canadian Real Estate Association (CREA)
On the other hand, real estate agent is licensed through the province, but they are not a member of CREA. It is also to be noted that a realtor can provide services only in the province where they are licensed to practice.
Things To Keep In Mind When You Hire A Realtor
When you hire a realtor to sell a home, you should keep the following things in your mind:
- You must sign a selling/listing representation agreement with your realtor. It permits them to market your home.
- The listing representation agreement can list the proceeds your realtor is entitled to get. It will also include how your realtor will get paid. Most realtors are not paid directly by the sellers. Instead, the brokerages for both the buyer and seller agents get a portion of the sale price. In Ontario, it is 5% of the final price plus tax.
- The listing representation agreement can also list any additional fees.
Why Do You Need A Realtor?
1. Prepare Your Home For Selling
An experienced realtor knows which renovations can result in the greatest ROI. He can advise you on renovations to maximize the value of your property. He can decide which repairs are necessary from the list of repairs and which things are unimportant.
After this initial consultation, your realtor can help you hire an inspector for complete pest inspections. He might want to inspect the roof, sewer, drainage and other key features. He can also help you in staging your home to create a great first impression.
2. Price for your Home
Each seller might have his own expectations about the worth of his/her property. A realtor looks at things realistically. After considering the location, size, and other comparables, he can advise you on how to price your home to achieve your goal. An overpriced listing results in making your house stay on the market for a long period of time. An appropriate price is the first step to attracting the right buyer and closing the deal.
3. List Your Property At The Right Time
The timing of the listing plays a critical role in attracting the right buyer and closing the deal. A realtor can ensure that your listing gets life at the right time. An older listing is less desirable for potential customers. Your realtor can judge the best time to list your home and sell it faster and for a higher price.
When is the right time to list a new home, and how do the realtors know about it? A CNBC report gives us some insight into it. Referring to a Redfin survey, the report claims that Thursday is the most popular day for the agents to debut the listings. The homes listed on that day sell faster. Their findings are based on the sample analysis of 100,000 homes sold in 2017. According to the survey, Sunday is the worst day to list a home, whereas the homes listed on Thursday sold five days faster on average than the homes listed on Sunday.
Using insights like the above, a realtor can list your property to sell it faster.
Nick Labrosse
🏠 Get a Free Home Evaluation!
4. Multiple Listing Services
A realtor can put your house on the Multiple Listing Services(MLS). It is one the most efficient systems to find the right buyer. It is only accessible to licensed real estate agents and realtors.
Most of the potential buyers look at the MLS while searching for a home. In the home buying and selling market, MLS is the most appropriate and effective communication tool.
MLS is unlike the typical home searching tools available online. It is a very comprehensive tool that constantly notifies all the agents about new listings and open houses.
5. Professionally Market Your Home
Marketing your property on your own becomes a very long and tiresome process. You don’t always have access to professional marketing tools. It is always advisable to hire a realtor to sell your house. Realtors have an excellent marketing strategy, and they advertise your house in a large professional network.
Marketing the house doesn’t always solely depend on the listings. Realtors have their own marketing platforms, which include real estate websites, social media, videos, and pamphlets. Open houses and realtor meetups and lunches are excellent platforms for professional marketing.
The constant interaction among the realtors can benefit by selling the home faster. The professional real estate association also helps in marketing your property.
6. Right Advice
Some buyers request repairs in the house before the deal is closed. Can spending on renovation result in a greater ROI and higher price? A real estate agent always gives you the right advice. As a client, you have the comfort of knowing that your real estate agent is looking for your best interests and ensures confidentiality.
7. Take Care of the Paperwork
A real estate agent can go over all the paperwork a seller has to sign. This includes disclosure forms, listing agreements, purchase contracts, and various legal and financial documents. A realtor possesses an in-depth understanding of these documents and is adept at ensuring that they are properly completed, signed and submitted. His expertise reduces the chances of errors which could delay or jeopardize the sale. This means a smoother transaction and peace of mind for the seller.
8. Make Sure That The Buyer is Qualified
There might be many people who would like your house, but not everyone can buy it. A realtor can help you look for those buyers who are pre-approved for a mortgage. To get pre-approval, a buyer might have to go through the whole process of getting a mortgage.
Your realtor ensures that you deal with pre-approved buyers instead of wasting your time with people who cannot buy the home. This way, realtors protect the seller’s interest by minimizing the risk of a transaction falling through.
9. Present For Home Inspection
The home inspection provides all the facts about your property and the state of your home. If your realtor is present during the home inspection, he can protect your interests. He can follow along throughout the inspection and be ready to deal with any potential issues that the buyer might bring up during negotiations.
10. Attend The Home Appraisal And Close The Deal
The real estate appraisal is another event that can impact the sale of your home. Your realtor can answer the questions about your home and facilitate the evaluation. For example, he can provide information about the significant updates in your home to convince him of a higher appraised price.
Nick Labrosse
🏠 Get a Free Home Evaluation!
11. Legally Bound To Protect Your Interests
A realtor is bound to protect your interest by the Code Of Ethics. CREA (Canadian Real Estate Association is responsible for enforcing this code of ethics. All the realtors who are members of CREA are bound to follow the code of ethics and abide by its laws.
According to this ethical code, it is the moral duty of the realtor to put the client’s interests ahead of his own. This means more security and peace of mind for the seller.
12. Insight and Knowledge
The biggest advantage of hiring a realtor to sell your home is that he has in-depth knowledge about the place and the city he is working in. The Real Estate Market is always fluctuating. It is difficult for a layman to stay updated with these changes, whereas a realtor can keep up with these changes and protect the interest of his client. He can translate these market changes into actionable advice for his clients and help them make informed decisions.
Conclusion
Hiring the right realtor means selling your house faster. A professional realtor can expedite the process of selling. He has extensive knowledge of the local real estate market and can easily access a wider network of potential buyers. He can also price your property and attract the right kind of home buyer.
Leverage the expertise, market insights, and network of a realtor like Labrosse to sell your house faster and minimize the time it stays on the market.
FAQS
Home buyers need a real estate agent because it saves both time and money. A realtor helps you to find listings. He is always ready to inspect houses with you. He can give you access to more( for sale listings) by the owners.
Honesty and integrity are the most important qualities of a good real estate agent.
- You don’t have a representative in the real estate market.
- You lack the understanding and knowledge of the local real estate market.
- You are unable to access the MLS.
- You have no help in the negotiation during the entire transaction.
Real estate agents work for a brokerage, and all commissions are received by the brokerage. The broker then pays the agent.
Who is a listing agent?
A listing agent is a real estate agent who represents a home seller in a real estate transaction. He is responsible for connecting with a potential buyer and closing the deal. A listing agent assists the client throughout the home-selling process, which includes pricing the home, staging for an open house, marketing, and closing the deal. He ensures that the real estate transaction goes on smoothly.
