By: Suzy Lindell, Supervising Broker and Co-Owner
You probably have a full-time job, and I’m willing to bet that this job isn’t selling houses. What you don’t realize, however, is that selling a house is a full-time job. It takes more than a sign in your front yard to sell a property. You’ll have prospective buyers calling on a daily basis and you’ll have to filter these calls. Plus there’s the job of scheduling showings of your property, and you have to be available when buyers are available, and you have to remember you might be letting strangers in your home. The reality is that you might not have time to coordinate a home sale. A Realtor, on the other hand, can make him or herself available and give your property the attention it deserves. There are significant advantages to having a Realtor on your side. Let’s talk about the main reasons:
1. You’ll get more traffic with a Realtor
If you’re selling a home, the thought of paying 5 or 6% commission to a Realtor might leave a sickening feeling in your stomach. But instead of focusing on what you are losing, you need to focus on what you will gain. A Realtor pays and subscribes to numerous multi-listing services that get you exposure that you could never get on your own. They also have a network of other realtors they work with and share their listings with, they also have potential buyers. With the market in Colorado being what it is, you are far better off to use a Realtor who is educated and can price your house correctly, ensuring that you will not leave any money on the table.
2. You need someone looking out for your interests
Whether you are a buyer or a seller, you need someone who’ll put your interests and needs first. If you are a seller without a Realtor, don’t think you can ask the buyer’s agent a bunch of questions and receive impartial advice, and vice versa. It doesn’t work this way. The agent may answer your questions. But at the end of the day, he or she is not working for you. You need a professional who can guide you through negotiations, or else you could make or accept a bad offer. We are experiencing more than ever multiple offer situations, you need a professional to help you navigate the ins & outs of multiple contracts in order to choose the best one for you.
3. You’ll receive a better understanding of how real estate works
Buying and selling real estate is a complicated process, and you’ll probably run into a few roadblocks. If you don’t have any knowledge of real estate, there’s a good chance you won’t know how to address issues as they arise, which can slow down the entire sale. As a seller, there could be rules, forms and disclosures you don’t fully understand. For example, if the property has a major problem that you don’t disclose to the buyer, the buyer might take legal action after the sale.
Your Realtor can explain the paperwork and help you understand your rights as a buyer or seller. If you run into problems with the title company, bank or appraiser, your real estate agent can run interference, deal with these headaches and keep the sale on track.
4. You’ll receive expert opinion
Using a real estate agent is also beneficial because you’re able to receive an expert’s opinion. As a seller, it’s often difficult to recognize issues with your property. You probably think your house is in perfect condition, however, your real estate agent can provide an honest opinion about the property. He might suggest making a few changes to drum up the most interest, such as rearranging furniture or removing clutter. A Realtor can also provide advice on setting the right asking price for the house.
If you’re a buyer, your real estate agent likely has knowledge of the area, so if your are new to the area they can point out things you have no knowledge of. Realtors show many houses, your Realtor might be able to quickly identify a home as a good buy, or a money pit.
5. As a Buyer it’s not coming out of your pocket
It’s somewhat understandable why some sellers skip using an agent. But as the buyer, you typically do not pay the realtor’s commission. And since this money isn’t coming out of your pocket, you’ve got nothing to lose by using a realtor. If anything, an agent can help you finish a winner. Your agent can help you determine the best price to offer or counteroffer on a property.
Because real estate is a complex transaction, there are reasons why you should never buy or sell without a Realtor. If you’re looking to buy or sell, Colorado Land Company has expert Realtors ready to help! Just give us a call!