If you've ever worked with a real estate agent in the past, you would know…
The average consumer spends a great deal of time on the internet, which is also used to conduct a good proportion of business. In today’s modern high-tech era, there are now portals which can be used to buy and sell property entirely online. As a result, you may be wondering whether it’s truly necessary to hire a real estate agent, or if this is now becoming obsolete.
There is certainly no shortage of online websites which offer a great deal of knowledge about selling your home without the need for a traditional real estate agent. Self-sellers have access to many of the same tools that agents use, after all, including advertising media, listings websites, and marketing tools. However, there are numerous reasons why it makes more sense to use a professional estate agent to sell a property. Unfortunately, many self-sellers only gain this wisdom after it’s too late and they have discovered that the task of selling property is far more involved than they initially imagined. It may be a good idea to find a professional agent in your area using the comparison tools provided at LocalAgentFinder. You can register now and start comparing agent proposals to find the right fit.
For further explanation, it’s worth taking a look at the following list of incentives for why it makes more sense to employ the services of a licensed, experienced real estate agent.
1. Real estate agents are experienced and fully trained in their field.
There are many aspects of life in which you would defer responsibility to a professional in that specific field, such as medical care or legal issues. Although some people choose to change their oil or take on other DIY projects, selling property is a complex process. It involves numerous variables that you wouldn’t expect unless you have come across them.
Real estate agents have years of experience and know all of the ins and outs of their industry, just as you are likely an expert in your own field. There’s no shame in asking for the support that a professional can provide. The first challenge is finding the right real estate agent for your own property selling situation. Selling a house can involve a great deal of time and stress, so it’s better to relax and leave it in the hands of professionals.
2. Estate agents are ideal “middle men.”
Naturally real estate agents can be either men or women, but nonetheless, they can serve as “middle men” when the time comes to sell your home. Once you put an ad online or in the newspaper, this can generate numerous sales leads. It can take a massive amount of time and effort to sort through these various phone calls and emails to find out who is genuinely interested and who is simply doing some market research. Estate agents are experts at deciphering these enquiries, and they can also help show your property during open for inspections. They are skilled negotiators who will be able to get buyers to make an offer, which is difficult to do with the emotional attachment you most likely have for your home.
3. Agents have extensive knowledge about your neighbourhood or suburb.
It’s ideal if you can find a real estate agent who lives in your local area, but even those who are located a bit further afield will be able to source relevant data and information about your area. Real estate professionals have access to the full history of houses on the market. For example, while you may be aware that a similar home in your neighbourhood was on the market for $750,000, a real estate agent would be able to find out that it was passed over twice in auction and had to have maintenance done before it sold at the final price of $650,000.
It’s the estate agent’s duty to collate data on similar homes and other recent sales in your neighbourhood, to help you price your own home. They have access to helpful data covering demographics, crime statistics, hospitals, schools, and public transport to help you sell your home. Although agents can find this information through their professional networks and databases, it’s also helpful to find an agent who knows your neighbourhood first hand. You can search for a local agent using the free online dashboard at LocalAgentFinder.
4. They can help you find a good real estate price.
Good real estate agents will not tell you to sell your home at a certain sale price. Their talent lies in helping you determine what a reasonable price for your home would be by providing you with accurate market information. This should help guide you in your own decision, rather than spoon feeding you a number. Some of the factors to consider could include the current market conditions and supply and demand in your area. With this data, a real estate agent can help guide you to a sale price that will lead you to an early sale at a maximum profit.
Naturally, a real estate agent does work on commission and will stand to earn a percentage of the total sale. However, they know that you are the one with the most to gain or lose. With a realistic price, you can then work together to determine an effective negotiation and marketing strategy.
5. Agents have access to current market condition data.
One of the primary facets to consider when you are choosing a time to put your home on the market is how the current market is functioning. Estate agents make it their business to stay on top of these market trends, and have current knowledge about all the different variables that can affect the market. They can help you determine whether now is a good time to go forward by looking at the median and average sale prices of houses similar to yours, the average time spent on the market, the average square metre value, and the listing-to-sale price ratios. Without this important information, it would take longer to sell your home and could cause you to lose money if you price your home inaccurately.
6. Gain access to a network of professional industry contacts.
When you hire a real estate agent, you’re not just hiring that individual. You will also gain access to their full professional network of contacts. One of the integral aspects of any agent’s career is to build up this network of professionals who work in related services. Good real estate agents will weed out bad seeds and create long-term connections with service providers who offer high-quality and affordable services. Your real estate agent should be able to provide you with references for each company or individual that they have worked with in the past, so that you can then make n informed decision.
7. Real estate agents are good at negotiations yet manage to keep your information confidential.
Another important role that a real estate agent takes on is negotiating deals under a great deal of pressure. Because they take care of this, you don’t have to worry about this stressful part of the sale process. Hiring a real estate agent gives you access to an impartial third party without any sort of emotional attachment or prior interest in your home. They will be better suited to show off your home in the best possible way as a result.
When it comes to negotiations and showcasing your home, the agent serves a role beyond that of a middle man. The real estate agent will know how to make your home’s most positive attributes stand out, and will be able to garner you the top potential sale price as a result. They also can do this while keeping your information private and confidential, to safeguard you from competitors.
8. Professionals handle the red tape and bureaucratic paperwork.
There’s more to selling a house than placing an advertisement and opening up your doors to prospective buyers. You also must deal with the extensive paperwork that this process entails. If you’ve been anywhere near a house sale recently you already know that contracts of sale can be as large as a telephone directory. Estate agents know the ins and outs of all of this paperwork, because they deal with it on a daily basis. If you have no prior experience with selling property, deciphering the jargon can be consuming to say the least. Any small errors can lead to large consequences, causing you to lose funds or even end up in court. It’s worth using the services of an estate agent and conveyancers or solicitors to make sure that all of the legal red tape is followed to the letter.
9. Estate agents provide all relevant information even after your settlement date.
Although your listing agreement has been finalised and you have already reached settlement, you may still face issues in the future. It can be infuriating to find out that your house sale is not complete due to problems with administrative or legal services. This is an example of a time when you really want an estate agent on your side to help smooth over these issues.
A real estate agent can also help answer any queries after the sale has ended, in case you have any follow-up issues to discuss. The most competent, trustworthy agents will be happy to help you even after they have made their commission, because they know that a satisfied client will bring them good references and more business down the road.
10. A relationship is created for business in the future.
As mentioned above, the most successful estate agents will be the ones who leave their clients satisfied. They know that referrals are important for a long and fruitful career, because it can be next to impossible to continually find new business on their own. This means that your agent will do everything in their power to help ensure your satisfaction. They will be around the next time you need them, and will follow up with you to let you know this.
As you can see, there are many incentives to hiring a traditional real estate agent. Working with a professional can help maximise your profits and save you a great deal of time and trouble. The next step is to find the right agent to work with. With thousands of agents currently registered, LocalAgentFinder is a useful resource for sellers and investors. You can register your details and start receiving proposals from licensed, experienced agents in your area today.
The following articles may also be of use as you get started:
LocalAgentFinder View all articles by LocalAgentFinder
The only place to compare agent fees online.