With higher mortgage rates and moderating buyer demand, conditions in the housing market are different than they have been in the last few years. If you’re thinking of selling your house, it’s important to understand how the market has changed and what that means for you. Working with a credible housing market expert is the best strategy to guarantee you are prepared.
Here are five reasons working with a professional can guarantee you will get the most out of your home sale.
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A Real Estate Advisor Is an Expert on Market Trends
Leslie Rouda Smith, 2022 President of the National Association of Realtors (NAR), explains:
“During challenging and changing market conditions, one thing that’s calming and constant is the assurance that comes from a Realtor® being in your corner through every step of the home transaction. Consumers can rely on Realtors®’ unmatched work ethic, trusted guidance and objectivity to help manage the complexities associated with the home buying and selling process.”
An expert real estate advisor has the latest information about national trends and trends in your local area as well. More importantly, they’ll know what all of this means for you as the seller so they’ll be able to help you make a decision based on reliable, data-bound information.
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A Local Professional Knows How To Set the Right Price for Your House
Home price appreciation has moderated this year. If you sell your house on your own, you may be more likely to overshoot your asking price because you’re not as aware of where prices are in the current market. If you do, you run the risk of discouraging buyers or watching your house sit on the market for longer than it should.
Real estate professionals provide an unbiased eye when they help you decide a price for your house. They’ll use a variety of factors, such as the condition of your home and any upgrades you’ve made and compare your house to recently sold homes in your area to find the best price for today’s market. These steps are fundamental to make sure your property is set to sell as quickly as possible.
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A Real Estate Advisor Helps Maximize Your Pool of Buyers
Since buyer demand has cooled this year, you’ll want to do what you can to help bring in more buyers. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources and the Multiple Listing Service (MLS) to make sure your house gets in front of the most people looking to make a purchase. Investopedia explains 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.”
Without access to the tools and your agent’s marketing expertise, your buyer pool – and your home’s selling potential – is limited.
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A Real Estate Expert Will Read – and Understand – the Fine Print
Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you’ll need to manage is expanding. NAR explains it like this:
“Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”
A real estate professional knows exactly what all the fine print means and how to work through it efficiently while explaining to you what each form means. They’ll help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own as well as get you a better deal.
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A Trusted Advisor Is a Skilled Negotiator
In today’s market, buyers are also reclaiming some negotiation power as bidding wars ease. If you sell without a professional, you’ll also 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 all the above 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.
Bottom Line
Having the right expert by your side can make all the difference when it comes to selling your house. When you take on this task alone, there are so many things to consider and if you don’t have the right information, you can easily miss out on opportunities or even make mistakes that could cost you more than you bargained for.
Don’t go at it alone! Connect with an expert who can guide you through the process of selling your house in today’s market. With their experience they can help you discover which strategies will work best to get you the best deal possible on your property.
It’s important to remember that selling a house is a big undertaking and having people who understand the market can help make it a much smoother process and potentially get you more money. Don’t hesitate to reach out if you’re planning to sell your house this winter and want to get the best outcome from your sale. With 50+ years of experience, our team here at Sell for 1 Percent will work together to get you the best deal possible while saving you the most money possible.
