6 Ways A Real Estate Agency Helps Sell A Property
Selling your home or property has never been easy. Not as easy as putting a “For Sale” tag outside your property, and people will start coming to check the house and buy it.
Both seller and buyer will benefit from getting real estate expert help. One wants top dollar while on the other side, they want to steal property. However, they ultimately come to one goal, and that is “sale.”
There are countless reasons for how real estate agents and agency helps sell and buy property, and indeed it’ll be beneficial to both parties. You might be thinking that you’ll need to give the real estate agents a 5% or 6% commission, which is a standard percentage they should be receiving. Before you even decide to sell your home all by yourself. Here are six ways a real estate agency helps sell a property.
1. SUPERIOR NEGOTIATING SKILLS
Yes, you read it right. Most real estate agents are negotiation sharks, like how skilled union representative, mediator, or attorney when it comes to negotiating. They’ll make sure that you’ll get the best possible deal and price for your property. They are well-trained to negotiate well, so they know what works and what doesn’t. It’s part of their job as a real estate agent.
Real estate agents won’t get their thinking clouded because they don’t have an emotional stake in the outcome.
2. AVOID EMOTIONAL SALES
It’s one reason why having a real estate agent’s help will guarantee the best possible outcome for the seller or buyer. They know that selling property is an emotional process for most sellers. Having them on your side saves you from less likely mistakes such as giving in too quickly when you couldn’t sell it before the deadline, underpricing your property. Maybe even because you got offended, you refuse to counter a low offer from a buyer.
“Most often, hearing the comments of agents and homebuyers can be quite stressful for some homeowners” – David Kean, a realtor with Beverly & Co. in Beverly Hills, Calif. Emotion is always at stake for the most seller. On the other hand, Realtors can communicate without a sense of desperation and eagerness, which makes them the best choice to have on your selling the property journey.
3. FIDUCIARY DUTY
You might not know this, but high standard confidentiality and privacy are crucial to them; it’s part of what we call Fiduciary Duty, which makes them legally required to put the best interest first of their clients. Whether you’re a seller or buyer, your real estate agent will always have your back.
Your agent can inform you if the information requested by another agent is equitable. It’ll also put the buyer at ease since most homebuyers wouldn’t want to share confidential financial details without someone who’s legally obliged to keep the information confidential, like real estate agents.
4. UNQUALIFIED BUYERS
Asking qualifying questions to the buyers is part of the realtor’s job. Ailion noted, “They are very well-trained to interview homebuyers and determine their motivation of a prospect, qualification, eagerness, and seriousness to buy the property.” Closing questions to ask homebuyers such as, What schools they’re looking for if they are pre-qualified or paying by cash, how long have the buyer’s been looking for a house that fits what they need and want.
Real estate agents can determine people who are checking out your property, whether they are just curious neighbors, dreamers, and qualified buyers. It’s a lot of hassle every time you need to put your life on hold to make your property or house perfect and show it to homebuyers. You might want to filter out those homebuyers, and showing to most likely end up resulting in a sale.
5. EXPOSURE TO LEGAL RISKS
The seller’s disclosures are one of the essential items when you’re selling your property. Founder and CEO of LegalAdvice.com, attorney Matthew Ryan Reischer said, “It is an affirmative duty of a seller to disclose any fact about the property that can affect its desirability and value”. If these facts weren’t appropriately disclosed, the seller could be responsible for breach of contract, fraud, and negligence.
Once the buyer moved in and found problems that weren’t disclosed to them, then they can sue you. Failing to disclose a defect, hazard, or nuisance can be a big problem. Your realtor probably knows more about disclosure laws than you do, not unless you’re a real estate attorney. Sure, they make mistakes, too, but they do have omissions and errors insurance that could protect themselves. They can also give the buyer an alternative so that the seller won’t get sued for damages.
6. ACCESS LARGE NETWORKS
I’m sure you know that most seller can post their properties on multiple listing services and even on big real estate brokerage websites like Redfin, Craiglist, and Zillow. But do you have connections to real estate agencies, relationships with clients, and other real estate agents, which could bring you tons and tons of potential homebuyers? Remember, a Smaller pond of potential buyers means a longer waiting time to sell your property, possibly not getting as much money as your house worth, and of course, less demand for your property.