Selling a home can be a stressful process, especially if you’ve never sold a home before. Not only will you have to deal with high-level decisions like pricing the home accurately and marketing the home the right way, but you’ll also be dealing with the anxiety of a pending home sale—which might or might not turn out in your favor.
Fortunately, homeowners have the option of working with a real estate agent, who can simplify the bulk of the process and make sure the homeowner gets the best possible deal. But what exactly should a new homeowner expect from their real estate agent when selling a home?
Home Pricing and Strategy
First and foremost, your real estate agent will help you devise a strategy for selling your home. They’ll work with you to determine what your main goals are, are help you determine the best way to achieve them. For example, the price of your home will play a crucial role in the final deal you get; pricing your home higher will help you earn a higher profit on the deal, but may make it so it takes longer for your home to sell. Conversely, a low price will result in a faster close, but may not yield a strong profit.
It’s hard to price your home accurately or strategically unless you’re already immersed in the real estate industry. That’s where your real estate agent comes in; they’re likely already familiar with your neighborhood, and understand how sales of properties like yours work. They should be able to work with you to come up with a strategy that you both think accomplishes your goals.
Recommendations for Fixes and Staging
To help the home sell faster, or make sure you pass the upcoming home inspection, it’s good to do a run-through of the house. Your real estate agent may make recommendations for key things to fix, add, or change; sometimes small touches like fixing the holes in your wall can make a massive difference in the appeal to potential buyers. You may also get recommendations for staging the home for photographs, including how to clean and decorate the home.
Marketing and Advertising
Real estate agents will also take charge of your entire marketing and advertising strategy. They’ll harness the power of online platforms, platforms for real estate agents only, and their vast network of personal contacts to try and get your home sold as quickly as possible (and for the highest possible price).
Most real estate agents are marketing experts, and will be able to choose the right photographs, add the right descriptions, and advertise in the right areas to generate the highest amount of interest. There are some platforms that homeowners can access on their own, but they may not have the expertise or industry insights necessary to maximize their potential value. In many situations, this is the best perk real estate agents can offer their clients.
Real estate agents owe it to their clients to be in near-constant communication. They’ll alert you when your home gets an offer, or when someone has expressed interest in a walk-through, and will let you know when new developments arise. For example, if the home hasn’t gotten any bites in the first few weeks, they may advise you to lower the asking price, or try an alternative marketing method. If you do get any offers, they’ll help you decide whether to accept the offer or hold out for something even better.
Your real estate agent will also be proactive in making sure your prospective buyers are serious about buying your property—and are willing to follow through with the purchase. You don’t want to give up one offer for a more lucrative one, only to find out the highest bidder isn’t able to get the financing required to close the deal. With a real estate agent, you won’t have to worry about this possibility.
Negotiation and Agreement Drafting
As you likely already know, real estate agents typically handle the negotiation process, and drafting the paperwork necessary to finalize the deal. This is advantageous for most homeowners, since they won’t have much experience negotiating a real estate deal, and may miss out on some serious ground for requesting more money. In general, real estate agents are able to negotiate deals much higher than typical homeowners, so it makes up for their commission fee.
Home Inspection and/or Appraisal Attendance
Though not true of all real estate agents, some agents make it a point to attend your home inspection, your home appraisal, and other important meetings and evaluations for your property. They can use the information gathered in these events to learn more about your property and position it wisely on the market. They may also be able to answer more of your questions, or guide the process to make sure it works out in your favor.
Finalizing a home sale can be a complicated process. Handling the paperwork, like the title transfer, and managing the buyer’s actions can be daunting to a homeowner unfamiliar with the process. There may also be unresolved points of the sale agreement, such as repairs that need to be made, acknowledged, and documented. Your real estate agent can help you tie up all these loose ends.
A Reasonable Fee
In exchange for all their work, you can expect to pay your real estate agent a fee, usually in the form of a commission. They may split this fee with the buyer’s agent, where applicable. Some real estate agents charge a flat fee, instead of a commission based on the percentage of your final home sale.
If you’re interested in learning more about the home sale services that Green Residential provides, contact us today! We charge a flat fee to keep things simple, often less than the standard commission for a real estate agent, and we can make sure to keep your life as simple as possible—all while ensuring your home is sold for what it’s truly worth.