If Price Sells, Why Hire A Realtor? 10 Reasons
Is your Realtor a real pro?
Good question. Being one of St Petersburg FL Realtors, sometimes I have people ask me about it. It’s no secret that 75% of a successful home sale is pricing it right. So why not save on commissions and sell it on your own?
Well, let’s look at what it takes to sell a home. First of all, if you list a house for sale and expect to get showings by other agents, you’ll need to offer a commission to the buyer’s agent, traditionally around 3%. So, ideally, by listing a home on your own you’d save 3% that your listing agent would charge you. So then, why is it worthwhile to hire an agent?
A good listing agent will offer the following marketing services:
1) In depth local market AND your neighborhood pricing analysis, which will tell you in what price range your competing homes are currently listed for sale, what buyers are paying for homes similar to yours (solds), and what price would be too high for your home (expired listings). Based on the features of your property and market conditions, a real estate agent should provide you with an average price per sq.ft. for each of these categories.
2) A Realtor is not just a salesperson. He/she is your trusted advisor. An honest agent will advise you on needed improvements and décor to make your home appealing and welcoming so as to make it attractive to a wide range of buyers.
3) Pictures sell. If you hire an agent and he/she shows up with a cell phone camera to take pictures of your home, fire him on the spot! Professional photographer services can cost from $100 to $500 depending on the scope of work. You are allowed up to 25 pictures on Realtor.com and should have just that many. Quality and quantity of pictures draw more viewers and result in quicker sale.
4) One cool feature is a video tour. A good 2-3 minute video and loaded onto your online listing will increase the number of views of your home. In today’s market, agents absolutely must offer this service.
5) You will definitely need to put your home on MLS. This is the place where 96% of agents search for homes for their buyers. MLS automatically feeds your listing into Realtor.com and multiple other sites, like Zillow and Trulia. A good agent will pay extra to have your listing enhanced and look professional online. There are several flat-fee listing brokers that will load your listing onto MLS for around $400 with no additional service. But a commission agent won’t charge you anything upfront. You only pay commission at closing.
6) Of course, a professionally installed sign is necessary to attract drive-by buyers. It should have a name, phone number, and a website. Buyers should be able to contact the agent and get immediate assistance via phone, text or web; otherwise, they are off to the next home.
7) Only an electronic lockbox should be used for your keys. This allows your agent to track every viewing of your property with complete info on all realtors who pass through as well as the number of times they previewed your home.
Social media. How active is your agent in social media? Does he/she utilize Facebook, LinkedIn, Twitter, YouTube and other outlets online to promote your home, as well as drive buyer’s leads and traffic to your listing? Does the agent blog on real estate topics? Is the website just a static URL lost in web space with a picture of an agent holding a cell phone and a dog? Or is there an active media machine driving the business and using latest technology? Are there things in place like Search Engine Optimization, embedded key words and syndication of posted information to other online outlets? It’s the 21st century, you know.
9) Showings. Do you have a job? Potential buyers need to see your home at 10 am and you are at work. What to do? Do you think they will wait? Maybe or maybe not. A good agent should be able to meet and show your home to buyers at a convenient time for the buyer. An aggressive realtor will always take the potential buyer’s name and number and follow up.
10) Contract and closing. This is a decisive stage of the process. A buyer’s agent will only look out for his client, not you. The listing agent must negotiate the contract in the seller’s best interest as well as supervise inspections, review the HUD, and make sure all details are covered during closing.
I could probably list a dozen more things a good listing agent should do for you. Paying a sales commission to your realtor is worth the money, especially in today’s buyer’s market. One thing you should do is pick your agent carefully and interview a few of them before you hire someone. Only hire a full-time professional. Ask about his/her standing in the community and sales track record. Make your realtor work for you and demand accountability with at least weekly updates.
Important! If you know you are a short sale candidate, you should definitely use a realtor with a proven history of dealing with short sales. Negotiating a short sale with lenders and buyers is a hard and time-consuming process and no homeowner should undertake it without proper training and experience.
Contact us if you have any questions or need assistance with selling your home.
Tampa Bay Real Estate Blog, St Pete Real Estate Blog by The HOME Team
Related posts:
