on May 8, 2023
An Expert Makes All the Difference When You Sell Your House
If you’re thinking of selling your house, it’s important to work with someone who understands how the your hyperlocal housing market is changing and what it means for you. Here are five reasons working with a real estate expert can ensure you’ll get the most out of your sale.
1. They’re Experts on Market Trends
With today’s housing market defined by constant change, it’s critical to work with someone who knows the latest information and how it impacts your goals. An expert real estate advisor knows about national trends and most importantly your local area too. They’ll give insight to what all of this means for you and they’ll be able to help you make a decision based on trustworthy, data-bound information.
2. A Local Professional Knows How To Set the Right Price for Your Home
Home price appreciation has moderated this year. Here in Yamhill County, housing prices slowly depreciated between October and February, but now we are seeing an upwards trend for many price ranges. If you sell your house on your own, you may be likely to overshoot your asking price because you’re not as aware of where prices are today. Pricing your house too high can deter buyers or cause your house to sit on the market for longer. Pricing your house too low, can leave money on the table on behalf of your buyer instead of you.
Real estate professionals look at a variety of factors, like the condition of your home and any upgrades you’ve made, with an unbiased eye. They know what buyers are asking for in a home and what value your home adds or detracts in comparison. Current inventory for your price range and current competitive homes are reviewed and they also compare your house to recently sold homes in your area. With all of this data, a balanced approach can be made to find the best price for today’s local market so your house sells quickly.
3. A Real Estate Advisor Helps Maximize Your Pool of Buyers
With Buyer demand varying month to month, you’ll want to do what you can to help bring in more buyers. Real estate professionals have a wide range of tools at their disposal, such as their social media followers on multiple platforms, agency resources, client databases and the Multiple Listing Service (MLS). These tools ensure your house gets in front of the maximum number of people looking to make a purchase. Real estate agents can also reverse prospect with other agents to locate buyers looking for exactly what your home may be offering. Investopedia explains in summary, why it’s risky to sell on your own without the network an agent provides:
“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home.”
Not taking advantage of an experts tools and marketing expertise limits the visibility of your home to a larger buyer pool. Limiting the number of Buyers that will see your home for sale, potentially limits the homes selling potential and its maximum return.
4. A Real Estate Expert Will Read – and Understand – the Fine Print
Today, more disclosures and regulations are mandatory when selling a house. This means the number of legal documents you’ll need to juggle is growing. The National Association of Realtors (NAR) puts it like this:
“There’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”
The state of Oregon has required disclosures due of the Seller to be provided to the Buyer. The Buyer then has specific windows of times they can back out of the transaction with no penalty. Real estate experts are versed in which requirements are mandatory as well as the timelines. They are familiar with loan programs, lenders and offer stipulations when helping you to compare purchase offers. They also are familiar with what items are and are not required when negotiating inspection repairs, in order to clear appraisals of different loan programs.
5. A Local Professional Is a Skilled Negotiator
In today’s market, buyers have been regaining some negotiation power. If you sell without an expert, you’ll be responsible for any back-and-forth. That means you’ll have to coordinate with:
- The buyer, who wants the best deal possible
- The buyer’s agent, who will use their expertise to advocate for the buyer
- The inspection company, which works for the buyer and will almost always find concerns with the house
- The appraiser, who assesses the property’s value to protect the lender
Instead of going toe-to-toe with these parties alone, lean on an expert. They’ll know what levers to pull, how to address everyone’s concerns, and when you may want to get a second opinion. They also work for you and can help to not only negotiate these items, but make sure what is negotiated, is in your best interest.
Bottom Line
Don’t go at it alone. If you’re planning to sell your house this summer, let’s connect so you have an expert by your side to guide you in today’s market. And if you are needing to sell in order to purchase, don’t worry, I can help guide you through the many options and process as well.