Why You Need a Real Estate Professional
Given the proliferations of services that help home buyers and sellers complete their own transaction, you may have considered whether you should go it yourself instead of working with an agent. However, there is no substitute for an experienced professional, and taking on all the responsibility yourself could be costlier than an agent's commission in the long run.
According to the National Association of Realtors' 2021 Profile of Home Buyers and Sellers, only 7% of homes sales were accomplished as for sale by owners (FSBO), and of those, 57% knew their buyer personally. FSBO home sales had a median price of $260,000 in 2021, compared to the agent assisted home sale median price of $318,000.
Beyond the price advantage of using an agent, homes listed by real estate professionals get more exposure and their sellers get more support. Here are some other considerations:
• They're trained and licensed professionals.
• They have experience in your neighborhood and your market.
• They have oversight from brokers and state licensing officials.
• Their job is to advise you the best way to reach your goals.
• They know how to present your home and deal with buyers.
• They know how and where to market properties effectively.
• They know how to overcome typical snags that occur in real estate transactions and closings.
• They understand state-required disclosures and look out for your best interests.
• They understand personal safety and security for your belongings during showings.
• They know the best resources to make transactions go more smoothly, from bankers to home-stagers to contractors.
• They have access to the most accurate and comprehensive data - the MLS, the only data repository that has the most up-to-date listing and sales information.
• They know how to negotiate.
• Their job is making real estate transactions successful.
• Their continuing education keeps them up-to-date on housing issues. With a real estate professional in your corner, you'll have a partner by your side to advocate for you and advise you through the entire home sale process.
With a real estate professional in your corner, you'll have a partner by your side to advocate for you and advise you through the entire home sale process.
The Value of Your Home
In a neighborhood of similar homes, why is one worth more than another? That's the question that's teased buyers and sellers for ages, but the answer is simple.
Every home is different
When a home is sold, a willing seller and a willing buyer determine the value of that home with the sale price. That price then becomes a benchmark for other similar homes, but other factors come into play. The most important are:
Location
The closer a home is to jobs, parks, transportation, schools, and community services, the more desirable it is.
Size
Square footage impacts home value because a larger home is built using more materials, and gives the homeowner more usable space. And a larger lot size could mean more privacy than a smaller one.
Number of bedrooms and baths
Additional bedrooms and bathrooms raise the value of a home compared to similar homes that do not have those rooms.
Features and finishes
Features such as outdoor kitchens and spa baths make a home more luxurious. A home finished with hardwood floors and granite countertops is going to cost more than a home with carpet and laminate countertops.
Condition
The closer a home is to new construction, the more it will retain its value. It's perceived as more modern, up to date, and perhaps safer. Homes that are not updated or in poor repair sell for less as purchasers' factor in the cost of updating and eventually replacing appliances and systems.
Curb appeal
From the street, the home looks clean, fresh, and inviting. Fresh landscaping and flowers won't change the size or location, but they certainly add charm. When two homes are identical in the same neighborhood, a higher price may come down to something as simple as views, paint colors, or the overall taste of the homeowner.