Contrary to what you may think, hiring a professional real estate agent to sell your property is not a thing of the past. While many sellers are choosing to fly solo in puting their homes on the market, selling a property is a major undertaking. In efforts to eliminate realtor commission fees (charged by the broker), this process could wind up being more expensive than the realtor's actual commission in the long run. Don't discount the value of hiring a professional, seasoned realtor.
1. - Real estate is a full-time job. Are you prepared to work some major overtime? Realtors are 24/7 liasions to buyers and sellers. Agents also have quick, easy access to all properties on the market as well as past histories of properties that were on the market years ago.
For buyers, a good agent will work tirelessly to hunt down homes meeting specific criteria, contact sellers' agents, and schedule appointments for home viewings. Buyers without an agent can expect to play phone tag, sometimes waiting for a return phone call for days, resulting in homes being sold before it is possible to view them.
Sellers without agents can expect to spend all of their free time hunting down qualified buyers, answering questions and numerous phone calls, making appointments, and the list goes on. This can result in unecessary delays in the sale of a home as buyers are likely to move on when they do not get quick responses. Rushing home from work to meet a buyer for a scheduled showing can be particlary frustrating and a major waste of time when the interested party is a no-show.
2. Negotians can be tricky. Many peope believe that direct negotiation between buyers and sellers is more effective and better suits the interests of each party. However, not every party is a reasonable or honest party and this philosophy is born of the assumption that both the buyer and the seller are people who are able to form an amicable business relationship. Unfortunately, this is rarely the case in today's world.
As a buyer, you may find that you like a particular home despite the 1970's laminate flooring in the kitchen and the orange shag carpet in the family room. The advantage of working with a realtor is that you have someone to whom you may express distaste, thus preventing from insulting the decorating skills of the current owner. Your realtor would then work to gently convey such concerns to the seller's agent. The agent would be in a better position to negotiate on your behalf without upsetting the homeowner.
Realtors are fabulous at keeping deals going. Sometimes tensions between buyers and sellers can kill a deal. Remember that a seller can reject a buyer's offer for any reason. Agents are great at speaking up for their clients through difficult transactions, thus resulting in a smoother business deal process. Realtors pride themselves in putting their clients in the best possible position to get the homes they want.
Sellers need the benefit of a hard-working realtor who will best respresent interests without repelling prospective buyers who attempt to whittle away at the sale price.
3. Understanding contracts is a must. Regardless of which end of the real estate business deal you may find yourself, the purchase offer contract acts as a means of protection in ensuring that you may void the deal at any time if conditions are not met.
Realtors deal with contracts and conditions every day. They are familiar with which standards should be implemented and which conditions may be safley removed and how to use the contract as a means of protection for both the buyer and the seller.
4. Contrary to popular belief, it is illegal for real estate agents to lie. There are many repercussions such as fines and revocation of license. Private buyers and sellers have no one to whom they must account for their actions. If you are under an agency agreement with a licensed realtor, your agent is bound by common law to a fiduciary relationship. They must act in the best interests of their clients. Most realtors heavily rely upon referrals and repeat business of past clients in order to build their business. Acting in the best interest of clients is of utmost importance to them.
Remeber: when buyers and sellers work directly together, legal counsel should be sought. Legal retainers cost a great deal more than a realtor's commission.
For more information, contact Stephanie Lang with Lang Premier Properties using the Lang Premier Properties contact form or call 855.526.4466. Stephanie is an agent with Lang Premier Properties. See what past clients have to say about Stephanie Lang. Lang Premier Properties looks out for your best interests when you purchase a new custom luxury home.