The house was absolutely beautiful.
The owners had created the blueprints themselves and supervised much of the construction, and determinedly and lovingly put together a house for their future family within these four walls. Spacious bedrooms, ample kitchen with lots of counter space, screened-in back porch right next to a vast backyard with room for the kids to run around in. Yet life had intervened and now they were selling their dream home that they had built together. But how do you decide on the right price for something you invested so much time, energy, and love into? Is it worth more because you built it? Should you update some of the property features? Would that increase the value? Where would you advertise your house for sale? Who would even want to buy it?
Sounds like you need a Realtor!
Welcome back to A Taste of Real Estate!
These are some of the roadblocks that most homeowners hit when trying to sell their home on their own without realizing that they are making some of the key mistakes which hiring a real estate professional could easily help them to avoid. Some homeowners may price their home based on the sentimental value which can often lead them to a higher evaluation than most buyers are willing to pay or what their house is actually worth, another situation can be that most homeowners who are trying to sell are also often trying to buy, a situation can be tricky in itself to navigate. Recently, Florida has seen a rush of new residents moving in from other states, throwing the housing market into a frenzy, with residents who now need to vacate the property by a certain date while buyers need to move in by a particular deadline.
But since the approach for buying and selling are on the opposite ends of the spectrum, let’s tackle the seller side of things while discussing why having a realtor or real estate agent in your corner gives you, as the homeowner, an edge when selling your home in this extremely competitive market.
Realtors and real estate agents are similar in that both are able to buy or sell properties with the key difference being that Realtors are agents or brokers belonging to the National Association of Realtors (NAR) or if you live here in Lakeland, the Lakeland Association of Realtors (LAR). Both provide valuable knowledge about the home buying and selling process while giving their clients access to a specific network of professionals and resources dedicated to helping their clients sell or purchase properties as effectively as possible.
They are typically compensated by a commission which is a percentage of a property’s total purchase price.
One of the most important of these resources available to a real estate professional would be
MLS -Multiple Listing Services.
This is a private database that was created by real estate professionals to help their clients buy and sell properties while at the same time exchanging important information about clients, homes and the demographics in which these homes reside.
At the same time this service allows real estate professionals to shine a spotlight on their clients’ properties, ensuring that it grabs the attention of potential buyers. A homeowner who decides to keep his/her property “in their pocket” is not included on this platform and often buyer agents will steer their clients away to other options due to the fact that most sellers do not realize that they still have to pay the buyers’ agent commission fee as part of the standard closing costs when selling a home. This may cause their properties to sit even longer on real estate sites without being sold.
Listings that do not sell within the span of a couple of months often get overlooked or buyers tend to assume that something is wrong with the property. The longer the property sits there, the more sinister it looks. While waiting for a potential buyer, homeowners still have the responsibility of paying property fees, mortgages, HOA, etc. Bills that still funnel money out of their pocket. Real estate professionals work hard to maintain a relationship with their clients to ensure that the property is being displayed and priced at its most advantageous to ensure a quick sale.
Another important feature called
CMA- Comprehensive Market Analysis
This is an essential, detailed assessment to help determine how much your house is worth and what buyers may be willing to pay for it. Every house on the market has to have one whether being sold by the owner or by a real estate professional. Priced too high, your home will likely be rejected or passed over by most buyers, but priced too low and you are potentially losing out on thousands of dollars. Your realtor/agent will help you put together a CMA that’s compares similar houses that might have sold in your area, any active listings, pending or expired sales, as well as gather any information about what sells and what doesn’t sell in your market.
In addition to these invaluable resources, real estate professionals have direct access to a network of approved lenders, title agents, appraisers, contractors, photographers etc that are essential for presenting your home in the best light possible. They have the added advantage of being able to conduct open houses, sometimes as early as 24 hours after a listing goes up and are taught how to properly stage a home to highlight its best features so that they can attract the maximum number of buyers. At the same time,they can receive or negotiate any offers that may be presented and follow up with interested clients appropriately to ensure that they are qualified to purchase your property. Real estate professionals can also submit and file legal documents, verifying that contracts and agreements are filled out correctly and can negotiate closing costs and fees that can often save or get you more money.
These are just a few of the benefits of using a real estate professional to sell your home. While not impossible, choosing to sell your home on your own can be a frustrating and time consuming process that can often add to the anxiety of life. Realtors and real estate agents provide invaluable support, resources and connections so that you may be assured that your home will be sold as quickly as possible without that added stress of trying to make it happen yourself. If you or someone you know is thinking of selling their current home and needs more information or advice on how to begin this process,please feel free to contact me at my email below. It would be my absolute pleasure to help you achieve your goal of selling your home today.
Email @[email protected] -Realtor at KELLER WILLIAMS SMART.
As always, thank you for joining me here for A Taste of Real Estate.
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