The Critical Role A Realtor Plays
The Growth of the Internet
Some individuals believe the growth of the internet makes it easy to find the best time to buy or sell a luxury property online or conduct effective advertising and marketing campaigns without the assistance of a Realtor. In the majority of cases, this will not be nearly as effective or successful as relying on the experience, skills and market knowledge a Realtor brings to the equation. There are numerous excellent reasons to hire a professional real estate agent.
The Experience and Education
A Realtor has the experience and education required to buy or sell a luxury home for the best possible price, match potential homeowners with the right home, knows the current pricing for the area and saves time. A professional Realtor can effectively show your home to enough potential buyers to make the sale. They can spot the lookie-loos as well as the serious buyers and will sell the home in the shortest amount of time possible.
The Neighborhood Buzz
Top Realtors always know where to find the buzz regarding a neighborhood. They look for comparable luxury property sales to correctly price the home. They provide potential buyers with data regarding the local schools, demographics and crime rate. They know which homes are worth more due to upgrades and can effectively sell homes in need of repair. Understanding the ins and outs of the neighborhood is a critical tool when purchasing or selling a home.
The Power of the Price
An experienced Realtor will never set the price for selling a property. They provide all the necessary information to ensure the homeowners are able to make the right choice. The buyers then review all the data and select the selling price. The negotiation strategy is based on market demand, supply and conditions. This data is critical for selling the home at the right price.
The Market Conditions
Realtors can provide and discuss market conditions, which can impact the purchasing and selling process. There are numerous important factors including the cost per square foot in similar homes, the average and median sales prices and market ratios and the listings of the prices the houses in the area have sold for. The Realtor ensures they have all this information.
The Importance of Networking
A Realtor has networking connections with other professionals. These services are often needed to make a purchase or a sale. The Realtor also knows the reputations of the vendors for competitive pricing, competency, and efficiency. They will provide a reference list of companies they have done business with along with background information to ensure the right selection.
Never underestimate the importance of negotiations. A Realtor is effective because they are skilled and not emotionally involved in the transaction. They are the messengers who deliver the offers made by the buyers and sellers. Their training means they can present the case of their client in the best possible manner while keeping client details confidential.
The Massive Paperwork
The modern purchase agreement is approximately ten pages long. There are also state and federally mandated disclosures to consider. The average file is one to three inches thick. One omission or error can result in paying the courts thousands of dollars. In certain states, the disclosures are taken care of by attorneys. In other states, the help and experience of a Realtor is of incredible importance.
The Closing Questions
Most transactions have at least one or two complications. This includes the property tax assessments collected by the taxing authorities and the invoice mix-ups resulting in delays for doc stamps or property tax assessments. A Realtor can straighten out all of these issues. This means the client is not on their own when they need help the most.
The Bottom Line
Purchasing or selling a home requires knowledge, skill, experience, and training. Without assistance, the buyer can easily pay far too much and the seller can accept too low of a price. The best way to proceed is by hiring a good Realtor for all real estate transactions.