Top 4 Reasons of Hiring A Real Estate Agent
Are you planning to sell your home? Hiring a real estate agent can help you sell your home faster at the most competitive price.
Before the internet age, homebuyers always relied on real estate agents to buy houses and other properties. But with social media and property apps like Ziba Property, finding and buying a home is much easier. And so, should property owners still hire agents when selling their houses or units?
The short answer is: YES.
Some owners may sell their properties by themselves to save on commissions. This is known as “for sale by owner” (FSBO). It could be very tempting, especially if you want the total sale price.
However, having no real estate agent could also be very risky. These risks include making emotional decisions, not knowing how to negotiate correctly, setting the wrong price, and attracting very few potential buyers. Another great risk of not hiring a real estate agent is encountering legal and regulatory issues with selling a home.
Hiring a realtor to sell your house will help you avoid these risks. If you’re still wondering how a real estate agent can benefit you, we have rounded up four reasons to convince you.
1. Provide extensive local market expertise
Real estate is a full-time job. If you work in a different industry, you might find selling a house totally out of your element. An experienced real estate agent knows the ins and outs of the local real estate market. They also understand the needs of local homebuyers. Hiring a realtor saves precious time in learning about your local market and promoting your properties on different marketing channels.
An experienced property agent also understands all aspects of the housing market, such as how mortgage interest rates and unemployment affect the demand for homes. Real estate agents also know the median and average sales prices, ratios of list-to-sold prices, and average price per square foot of similar properties. They can identify and provide valuable information on comparable properties, so you can make informed decisions as you sell your house.
If reading this overwhelms you, maybe it’s time to hire a real estate agent now.
2. Share professional networks
When you sell a property, you must work with lawyers, inspectors, appraisers, staging companies, title companies, contractors, home repair professionals, plumbers, etc. This will help you align with legal and local regulations, as well as your buyers’ requirements when selling your property. Hiring a real estate agent means you no longer need to search and meet with these people regularly — which can be time-consuming. Your real estate agent will do that for you!
Since agents are constantly exposed to your local real estate market, they have connections to relevant professional networks. They will liaise with different professionals to attract the largest pool of potential buyers and get the best sale price for your property.
3. Have excellent negotiating skills
You might find selling a property very exhausting if you’re not an experienced sales professional. Real estate agents are skilled and experienced in negotiating a home sale. Since they are familiar with market conditions, they know which terms are worth negotiating for and which aren’t. They also understand local customs better, so they know whether the buyer or seller typically pays fees like closing costs and transfer taxes. This means less effort on your part.
Furthermore, agents have in-depth knowledge of the street-by-street and house-by-house market, which is very helpful in providing valuable price guidance when selling your property.
4. Know the legal process of selling a home
Selling a property requires a lot of legal paperwork. If you’re unfamiliar with the legal requirements in your locality, you may need to spend more time learning these processes —- or worse, you might run into serious legal issues. An experienced real estate agent knows your locality’s legal requirements, such as disclosure laws. By hiring a realtor to sell your home, you reduce your exposure to legal risks. Your agent will ensure that the sales process is as smooth as possible, thereby saving you precious time and giving you peace of mind.
Selling a house is a huge undertaking that could take months or years. Hiring a skilled and experienced real estate agent can decrease this window time significantly, maximize your earning potential, and focus on other business opportunities.
Here’s a recap of the benefits of hiring a real estate agent:
- Provide extensive local market expertise
- Share professional networks
- Have excellent negotiating skills
- Know the legal process of selling a home
About Ziba Property
If you’re selling your home and are looking for a real estate agent near you, Ziba Property can help!
Ziba Property is a global real estate property management software that lets owners list properties for sale or rent. Since it’s a cloud-based real estate agent management system, you can connect with our fast-growing community anytime, anywhere.
You can also automatically notify property agents in your area whenever you have a unit available for rent or sale. (Read our article about how Ziba Property can help property owners.)