The Benefits of Selling Your Home With a Realtor
Monday Dec 19th, 2022
It is no surprise that the real estate market has shifted over the last several months. Earlier in 2022, we saw an extreme seller’s market. Buyer demand was at an all-time high, and homes were selling (in multiple offers) like hotcakes! Many sellers contemplated if using a realtor to sell their home was necessary given the state of the market; and while it is possible to sell your home without a realtor, whether or not it is a good idea to embark on the home selling process without one is a whole different ball game. There are very clear benefits to utilizing the expertise of a realtor when it comes to selling one of your greatest assets.
In recent months, we have seen limited inventory, scary media headlines about an impending recession and of course, the Bank of Canada’s several interest rate hikes. All that to say that when it comes to successfully selling your home in today’s market, it comes down to a few very important factors:
- Pricing Strategy
- Knowledge and Expertise
- Exceptional Marketing
Now more than ever, it is crucial to hire a seasoned realtor who has experience in developing a comprehensive pricing strategy to help sell your home for top dollar in your desired timeline. In fact, research shows that sellers who hire a realtor net 25% more on their property than those who opt for a DIY sale.
Determining your “asking price” or “listing price” is one of the most important aspects of making sure that we attract the best buyer for your home. It is important to develop the right strategy from the start, ensuring a quicker, cleaner, and ultimately, smoother sale.
There are several considerations that go into pricing strategy that include but are not limited to:
- Market value
- Market conditions
- Recent comparable sales
- Analysis of the property
Knowledge and Expertise
We can acknowledge that real estate information is readily available online and through media outlets, and these days, the average buyer/seller is way more informed than they were in the past. That being said, buying and/or selling a home is a very complicated and complex undertaking and it requires a lot of time, knowledge and expertise. This is especially true given the current housing market here in the GTA. Knowing how to analyze the data is a skill and requires access to information that is not readily available to the general public.
Realtors are regulated professionals who go through real estate education programs and examinations prior to applying to be registered. There is also continuing education to hone in on skills and knowledge.
Selling a home involves a multitude of tasks and can require the services of a number of professionals. These tasks can become quite overwhelming, as checklists get longer and the numerous tasks that need to be completed can often slip through the cracks. It can only help to have a realtor’s knowledge, contacts and expertise when it comes to:
- Preparation of your home to sell (for top dollar)
- Staging your home to sell (for top dollar)
- Getting professional assets (hiring suitable photographers/videographers)
- Listing price strategy
- Marketing your home in the most advantageous way
- Negotiating/renegotiating on the seller’s behalf
- Reviewing contingencies
- Closing the deal (reviewing offers, going through paperwork, etc.)
There are many moving parts in the home selling process and having someone on your team to properly advise you can help in the success of the sale of your home.
In today’s digital age, marketing your home for sale is part of the added value that a real estate agent brings to the table. Simply having your home listed on MLS is not enough – not in today’s world.
One of the most important factors in selling a home today is exposing the listing to as many prospective buyers as possible. At the end of the day, we want to attract the best buyer for your home.
Social media and digital marketing are tools for targeted, methodical exposure – that if used strategically, can attract the best qualified buyer.
Some of the marketing strategies that are necessary today are:
- High quality photography and videography
- Floorplan presentations (i.e. Matterport tours)
- Website exposure (and strong traffic to the website!)
- Social media exposure (and an engaged community)
- Social advertising (utilizing social media to target market the listing effectively)
- Lead generation on the listing
A realtor with years of experience should have mastered the art of negotiation.
Negotiation skills are crucial in this line of work for various reasons. Knowing and mastering negotiation methodologies provides realtors with the necessary skills to read situations and respond strategically and effectively in their client’s best interests.
When it comes to selling your home, it all comes down to maximizing the value of the deal or sale. A sound negotiation strategy will essentially lead to the highest possible sale price for the seller.
Negotiation skills ultimately create an optimal experience and outcome for the client – and that is why it is important, as a realtor, to consistently sharpen our negotiation skills.
In conclusion, whether or not you decide to work with a realtor in the sale of your home, is a personal choice, but it is important to assess and understand exactly what a realtor brings to the table.
If you’re thinking about selling your home, and you have any questions, do not hesitate to reach out. Contact me at 416-820-3006, or email me at email@example.com.