A question that some home sellers ask themselves before they sell their home is whether or not hiring a Realtor® is worth it. There are some sellers who decide that it is not and they attempt a for sale by owner, also known as a FSBO. Statistics show that more than 90% of FSBOs fail to sell their home.
As one of the top Webster NY real estate agents, I'm frequently asked why hiring a Realtor® is worth it. Many sellers ask, "What do you do that justifies the brokerage fee?" There are several reasons why hiring a Realtor® is a smart move and worth every penny spent in real estate brokerage fees.
Read on to find out what three of the top reasons why hiring a Realtor® when selling a home is worth it. Find out what a top Realtor® can provide that the majority of sellers cannot.
Top Realtors® Know How To Price A Home
One of the most important factors that determines whether a home will sell or not is the price it is being sold for. Overpricing a home is a surefire way to make sure your home does not sell. Since there are several methods that can be used to determine the market value of a home, a Top Realtor® knows what methods are good and which ones are bad.
Some of the best ways to determine the market value of a home include a home appraisal and having a comparative market analysis completed on a home. Some of the worst methods that can be used to determine the market value of a home include using online home valuation estimators and using the price per square foot method of pricing.
So if you're asking yourself, should I hire a real estate agent to sell my home, the answer is yes. A top Realtor® knows the importance of pricing a home properly and for this fact alone, it's worth hiring a top Realtor® when selling your home! Overpricing and underpricing a home are actually more common than some sellers believe.
A well priced home should sell in the first couple weeks it is for sale. If a seller doesn't hire a top Realtor® or falls for one of the common real estate pricing myths, there is a good chance they will not have a successful home sale experience. The longer a home sits on the market, in most cases, the less a homeowner will sell their home for.
Top Realtors® Know How To Market A Home
Another extremely important factor that determines whether a home sells or not is the marketing and exposure a home receives when it's being sold. Arguably the two biggest factors that determine whether a home sells is price and marketing. Another reason why hiring a Realtor® is worth every penny is a top Realtor® knows how to market a home.
Since the internet has completely revolutionized the real estate industry and the fact that about 95% of home buyers are starting their home search online, it's critical when selling a home that it is exposed everywhere. Top Realtors® know what online real estate marketing strategies to use when marketing their homes for sale as well as their website.
Five of the top online real estate marketing strategies that top Realtors® utilize include;
1.) Active Real Estate Blog
2.) High Ranking Website
3.) Strong Social Media Presence
4.) Creative Print Advertising
5.) Detailed Community Information & Pages
Why is something like a high ranking website important for a home seller? Since the majority of buyers are hitting the search engines to shop for homes and information about buying a home, it's critical that a sellers home is in front of these prospective buyers. A high ranking website puts a sellers home in front of these prospective buyers which can ultimately lead to the sale of their home!
Check out this article from RESAAS that provides some insight into why having community pages is important for Realtors®. As you can see it's not only important for Realtors® to generate leads but it's also important to show prospective home buyers that they are an expert in the local community.
Top Realtors® Know How To Ensure A Home Actually Closes
One of the top reasons why the majority of FSBOs fail is because they don't actually know what it takes to ensure a home closes. There are many things that happen between an accepted offer and the day of closing that can derail a real estate transaction.
Hiring a Realtor® is worth it since they will be able to help a seller through the process to ensure the transaction actually happens. Some of the most important steps in the process that top Realtor® will help a seller with include;
1.) Inspection negotiations
2.) Coordinating and ensuring the bank appraisal is satisfactory
3.) Making sure contract dates are met a buyers mortgage commitment
4.) Staying on top of real estate attorneys or title companies to ensure they are preparing the required documents for closing, such as, instrument survey and abstract
As you can see there are many steps throughout the home selling process. A top Realtor® does not just put a sign in the ground and wait to collect their paycheck. There are many things that can occur throughout a real estate transaction that a top Realtor® can assist with and make them worth every penny their earn from a transaction.
The above are only three reasons why hiring a Realtor® is worth it! Not hiring a top Realtor® is one of the most common home selling blunders that'll blow your mind!
Think about it, would you attempt to perform a surgery on someone or would you consult an experienced professional? I certainly hope the answer is that you would consult an experienced professional! Selling a home isn't rocket science, however, having a top Realtor® is worth it!