6 Reasons For Hiring a Realtor When Selling Your Home

We are in a real estate market where homes are selling in a day and sometimes minutes by way of a virtual tour! COVID-19 has changed how we buy and sell everything, and real estate is no exception. All across the country, most markets are experiencing record low inventory in the number of houses for sale. The limited supply cannot keep up with homebuyer demand which is fueling panic buying, quick sales and surging home prices.

You may be watching this exact scenario in your own community and asking yourself if a realtor is truly needed to sell a home. In fact, you may be thinking of taking advantage of this high demand and increased home prices by selling your own home BUT without a real estate agent. Of course it’s a tempting thought when you run the numbers and see how much money you can save by avoiding the realtor’s 6% commission. If your home falls in a higher price point, the amount of money saved can make you dizzy with excitement. With that thought in mind, what does a realtor provide that you can’t do on your own??? Well, as it turns out, A LOT.

IF THE PRICE IS RIGHT, THEY WILL COME

Realtors have their finger on the pulse of the market. Using comparable homes in your area and factoring in your upgrades and improvements, an experienced realtor will establish the best listing price to attract the highest offer. It is imperative that this price be exactly right – go too high and you lose buyer interest and if too low then you, the seller, loses money. If a home languishes on the market, then homebuyers wonder what is wrong with it. Pricing is tricky and a knowledgeable realtor will not allow you to leave money on the table. Ethically and legally your realtor is there to protect your interests and that includes realistic pricing!

The latest data from the National Association of Realtors:

FSBOs accounted for 8% of home sales in 2018. The typical FSBO home sold for $217,900 compared to $295,000 for agent-assisted home sales.

HOME PREP THE RIGHT WAY

Realtors sell hundreds of houses through the years, and they, better than anyone, know what buyers want. First impressions matter and your realtor has seen this first-hand. He/she will guide you on necessary repairs and improvements and how they impact the listing price.

Prepping your home begins outside with curb appeal. That drive-up moment sets the stage for the buyer’s total experience of seeing your home! Our Team will offer tips and even a professional home-stager to get your home in its best-selling shape. We’ve seen homeowners spend $50k for a new kitchen when in actuality painting the cabinets, de-cluttering, and installing an on-trend backsplash would have been enough. From the beginning, we will advise you on the projects that will bring you the greatest return on your investment. We don’t want you to overspend!

For homes needing more TLC, such as new flooring, an exterior paint job, etc., Sherry & Co. has access to Compass Concierge. This loan program funds up to $75K for home improvements with no up-front cost to the homeseller and with zero interest. Repayment is made at the closing table.  We’ve had several clients take advantage of this program with excellent results. Call for more details on Compass Concierge and how it can help you sell faster and for more money at no risk to you, 678.744.8206.

MARKETING MATTERS

Getting your home in front of as many eyes as possible is crucial but knowing what features to highlight is just as important. Our professional photographer knows how to capture your home at its best. Homebuyers primarily shop for homes online and having beautiful photos is a must.

Besides listing your home in the MLS databases, we show your home to our 20,000 plus social media followers. You are showcased on platforms such as Instagram, YouTube, Facebook, LinkedIn, our website, Zillow, Trulia, Realtor.com, Pinterest and others! We encourage our followers to share our posts and our paid ads with their friends and family, too.

Sending emails to our realtor network with your listing details and pictures opens up another specific audience by reaching realtors who specialize in homebuyer relocations. Once your home is listed, we immediately send a new listing email to local realtors!

Another strategy is the scheduling of open houses and offering incentives such as lunch, giveaways, etc., to encourage homebuyers to stop by for a tour.

With COVID concerns, we’ve also made technology a priority by hosting virtual home tours to homebuyers, especially to those who live outside the state.  At this time, with homes selling in a day, Zoom and Facetime have been awesome tools to do live tours and to answer potential homebuyer questions in real time.

NEGOTIATIONS & MULTIPLE OFFERS

A realtor wears many hats and serves many functions while representing you. The most important role he/she plays is that of negotiator. Selling a home is an emotional experience. The inability to emotionally detach from a home and/or the selling process can quickly derail a sale. Every homeseller wants to sell quickly and for the most money possible, and every realtor wants the same. When working with us, your realtor will provide an unbiased perspective and not let the emotions get in the way of sound decision making.

With the current housing demand, we’ve successfully negotiated through a number of multiple-offer situations. Recently, we received 24 offers on one listing. Offers above the list price are very common as well. If you were listing your house as For Sale by Owner, could you handle the deluge of phone calls and paperwork?

Realtors bring their skills and their time to draw up legally binding contracts and assist with negotiating offers, counteroffers and multiple offers. Getting to the point of a finalized binding contract requires hours of time, patient persistence, and focus. Having a realtor working on your behalf facilitates a professional and ethical process that will get you from contract to the closing table more quickly and smoothly.

A NETWORK OF PROFESSIONALS

A community-connected realtor has an extensive network of professionals who offer a range of services.  The inspection and appraisal phases cause anxiety for most homesellers. Certain repairs are inevitable and since realtors have been selling homes for a long time, they know who to call. Whether it is a necessary remodeling project, a building code violation, a roof repair and more, they can recommend trustworthy professionals to get the job done.

There are times when an appraisal comes in a little lower than expected, but there’s no need for panic. Our Team at Sherry & Co. has been trained in the appraisal process and will work to get you an accurate appraisal.

Working closely with the appraiser, we give the appraiser information to support the value of your home to include:

• A compiled list of upgrades and renovations
• A CMA (Comparative Market Analysis) showing how the realtor came up with the list price and resulting negotiated purchase price
• Contract activity – all the contract interest (multiple offers) submitted
• Property features
• Sales contract showing loan interest rate, down payment, seller contributions

PAPERWORK AND DEADLINES

There are piles of paperwork and deadlines when selling a home. Granted, in this tech age it is largely digital, but it can be overwhelming. Realtors are aware of what is needed and when it is needed. Not having proper documentation done in a timely manner can delay the closing or even worse, terminate the deal. Having a realtor efficiently navigate you from the point of listing to the point of closing without delays or headaches is a valuable resource.

Selling a home is a huge financial undertaking, and nothing can beat experience. While these are only a handful of reasons explaining the importance of a realtor, hiring a profession realtor will save you money and time but most of all it will protect you and your interests. It just makes sense!

If we can help you, we would love to talk in a no-pressure setting. We are not interested in strong-arming or pushy tactics. While we are seeing tremendous demand from homebuyers, it may not be the right time personally or financially for you to sell your home. We understand that. The team at Sherry & Co. Real Estate believes in putting people first!

Check back again for our next blog post.