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Why Hire a Realtor?

You want to list your home for sale. The market is challenging. Interest rates are rising, there is higher than normal unemployment in the city and the lending rules are very strict, reducing your pool of potential buyers. Let’s not forget all of the competition with the many other listings on the market and the reduced selling prices. The market is soft and it is a buyer’s market. You still need to sell, but could you benefit more financially by not hiring a real estate professional and not parting with commissions which could further reduce your profit? It’s a tempting proposition.   Let’s consider why you would want to hire a real estate professional to sell your home. I don’t know about you, but if I want to build an addition to my home, I will hire a professional, somebody familiar with building additions. Could I do it for less money? Sure, but there’s a reason for that and it will be reflected in the final product. It’s the same reason why I don’t do my own photography for my listings. I’m not a photographer and I know where my skill set lies. Your home is likely your largest asset. Why when selling would you put it in amateur hands, even your own?   How many homes have you sold on your own? Is it none, one, or two? Great! Is it fifty, one-hundred, one-thousand? I’m going to venture that is a hard no. Real estate professionals sell a great many number of homes. We strive for things to go smoothly, but that is not always the case. Do you know what to do when a deal is threatening to go sideways? An experienced real estate professional has had that experience and has the knowledge to keep you out of legal trouble. When you are dealing in real estate, you are dealing in legal contracts, so the threat of a legal issue coming up is always close at hand. Can you keep your contract moving forward legally without the threat of a law suit?   I’ll be the first to admit that not all real estate professionals are created equal. Just like there are good police officers and bad police officers, good doctors and not so good doctors, there are good real estate professionals and not so good real estate professionals. We can all get homes listed on the MLS and so can an independent seller. You want to consider the other avenues a real estate professional uses to market your home for sale. Also, do you have the time to devote to such pursuits such as that of a full time real estate associate?   Setting the sale price of your home is crucial to the success of it selling. You need to know how to create a comprehensive Comparative Market Analysis (CMA). This means you understand the pros and cons of your home and those that have sold and you know what values to assign to such pros and cons. In a challenging market, you cannot afford to speculate on price because you will not have anybody wanting to see your product. Also, are you discounting the selling commission from the sale price of your home? A prudent buyer will not understand why your home is valued the same as those represented by real estate associates, yet you are not paying commissions. The buyer will want their discount. This is a huge consideration as to why selling on your home will not net you more dollars.   The biggest reason for not selling on your own has to do with negotiating the offer. All of the pieces of information shared above are valid and important, but to me, negotiating a deal is where I truly show value. Again, not all real estate professionals are created equal. I always recommend you seek out referrals from friends and contacts for good representation. If I am merely letting my clients make decisions without any input from me or understanding of the market or empathy towards the other side, is that value? No. That’s being an order taker and you can receive such service at any fast food restaurant. Is it okay to “meet in the middle”? Is a bad deal better than no deal? These are all things that good negotiators understand. In my practice, negotiation is a fascinating art that I study in my spare time. It is also an art that experienced real estate associates hone with experience. I need to know how to get my clients the best results possible that represent their best interests. If you do not have a true understanding of negotiation, then you will surely concede money to the buyer during negotiations. And, if you are too close the deal, you are too emotionally involved to get the results you require.   Can you sell your home on your own? It is possible, but can you afford to do it? If you have questions, please feel free to contact me. I’m always here to help!