Getting ready to sell your property is an exciting time in your life, despite the reason you’re selling. Emotions are running high and there are countless decisions to be made, all of which may affect the price you ultimately achieve for your property. So, what value can a real estate agent bring when it comes to selling your property? And is it worth it?
It’s understandable that some sellers want to be more “hands-on” when it comes to selling their property. After all, for most of us, it’s one of the (if not the) biggest sales we’ll ever make! But not all sellers have an in-depth knowledge of the current property market. And even when they do, the emotional attachment sellers can have when it comes to their property can cloud their judgement, making it that much harder to make difficult decisions when it comes to facilitating a sale.
So what does a real estate agent actually do in the process of selling a property? Keep reading to find out!
What Value Can a Real Estate Agent Provide Sellers?
A real estate agent’s job is extensive. They handle everything to do with selling your property, from marketing to presentation, including helping the property stand out from the crowd. Once the property is ready and up on the market, it’s down to the real estate agent to sell it to prospective buyers, sometimes using their existing networks. They need to negotiate with buyers and ultimately, execute a strategy that will generate the best possible sale price.
Most sellers don’t have an in-depth understanding of sales in the local area, don’t understand the property features buyers are looking for in that area and, most importantly, they don’t know the winning strategies to drive a high price.
Preparing the Property
So, first things first: preparing the property. A good real estate agent will understand the local market and be able to make some suggestions as to small improvements that could be made to a property to achieve the best sale price. For some properties, this could mean painting the walls. For others it could just mean de-cluttering and removing personal items. In some areas, this might mean staging a room as a home office or gym to show how versatile the space can be.
Next is pricing. Setting a price for a property is no mean feat. Pricing a property too high could scare off potential buyers, while pricing it too low might mean too many low-ball offers. That’s why it’s crucial to find a real estate agent that understands your local area specifically.
Marketing the Property
If you’re lucky enough to be selling in 2021, you’re probably not going to struggle to sell your home, as there are still so many buyers in the market. But will the price be right? No matter what the market is like, effective marketing is crucial to secure the best price possible.
Good real estate agents will already have an extensive network of potential buyers to reach out to. A comprehensive marketing campaign will not only reach a large number of buyers, but, importantly, it will reach the right buyers. A smart agent will know exactly which property features to emphasise to appeal to buyers in the area.
Negotiating with Buyers
Next up, a real estate agent will organise property inspections, both public and private. Attempting to do this yourself can be extremely stressful.
Once the real estate agent has established interest and received offers, they’ll start negotiating (often with multiple potential buyers) to get you the best price possible. Throughout this time, of course, they’ll be communicating with you, the seller, to help maximise the sale price for your property. It’s their job to also negotiate the terms of the sale.
Finalising the Sale
Once the sale has been locked in and initial contracts signed, an experienced real estate agent will also help you tie up any loose ends.
There are endless technical and administrative requirements involved in this part of the process. Having someone to do it all means significantly less stress for the seller. Most sellers ultimately find that selling a property is stressful enough without getting lumped with a mountain of paperwork!
Having a real estate agent is critical if you want to secure the best sale price you can. And, while real estate agent fees can be steep, when you think about all the aspects of the process they have to deal with and the value they can add, it’s definitely worth it.
Real estate agents, especially those that specialise in the local area, live and breathe real estate. That means they’re often privy to information that sellers might not have access to.
Considering selling your property? We can help. Get the Ultimate Home Seller’s Checklist here.
We have an in-depth knowledge of the Sydney property market and have networks of potential buyers and investors rooted firmly within the city. To find out more or to start the process of selling your property, contact us today. Remember, the process can take longer than you think, so it pays to start early and be armed with the right information.