Lindsay Tracy Poisson
Buying or selling a home is a major financial (and emotional) task. A great realtor can make a huge difference in many aspects of this experience, from your stress levels to your profits. If you’re considering undertaking this feat on your own, read on to see why hiring an expert is always the better decision.
Have an expert guide on your side
Realtors are fiduciary to you and they adhere to a strict code of ethics protecting your rights, and confidentiality. They are legally obligated to put your interests first. Buying or selling a home is likely the biggest financial decision you will ever make and realtors don’t take that lightly, working all hours of the day with open communication for support and guidance. For every hour a realtor spends in your presence they will spend an average of 9 hours out of sight working on your behalf. Why? Because they don’t get paid until your transaction is closed. If you think you will save money by selling yourself, you should know that on average a realtor gets 16% more on a property sale than a FSBO (for sale by owner). In order to get to the closing table, there are many steps to consider and you will benefit from an expert guide on your side.
Realtors have the skills, resources and knowledge that are essential to navigating each step with ease and efficiency.
Realtors know the market
For both sellers and buyers, Realtors provide local market expertise and can strategize ways to craft the optimal selling or buying approach based on current market conditions. The market in Biddeford, Maine for example is completely different than that of Portland, Massachusetts, even though the two areas are only two hours apart. A comparative market analysis (cma) is a trusted skill provided by your realtor and will guide you to realize the value of your property to sell or interested in buying. Realtors have extensive searching power. Yes, the internet is wonderful and you can find almost any active listing on your own but real estate professionals provide you with so much more. They have exclusive access to the MLS (Multiple Listing Service) offering a more detailed and expanded search also providing full access to property disclosures, deeds, and more documents attached to the property of interest. Realtors network with each other sharing coming soon or off market listings and exclusive first access to the information and details. With an unbiased eye, you will work together to meet your buying objectives while staying within your budget. For sellers, a realtor can provide objective, unemotional guidance to get your home ready to sell knowing what realtors and their buyers are looking for in your area.
Superior Negotiating Skills
Having a realtor in your corner is especially needed in today’s historically competitive market. Realtors can detect and prevent potential problems easing the process for you. For buyers, a realtor will help you win in a multiple offer situation by strategizing with your budget and needs. Sellers received an average of 4 offers on their home in 2021. A realtor will help sellers vet all potential buyers and identify the pros and cons to choose the offer that gets you the most money and best terms. In a real estate transaction you will typically need to negotiate price, repairs, possession dates, inspections, and appraisals. A deal can fall apart if these aren’t handled correctly and realtors are experienced in unemotional negotiating. Having a concerned, but objective third party will help you stay focused on the issues most important to you when emotions threaten to sink an otherwise sound deal.
Avoid legal hassles
Buying and selling a home requires a variety of legal forms, disclosures, reports, and financial documents. A realtor will know exactly what is required and help you avoid any delays or costly mistakes. They work with these contracts regularly and know how to use them to protect you in a deal whether you are buying or selling. A Seller can be held liable for fraud, negligence, or breach of contract if they do not disclose any fact that materially affects the value or desirability of the property. A buyer may lose their EMD (earnest money deposit) if they don’t have the correct contingencies in place when they need to back out of a deal. Realtors are up to date on all of the laws and regulations, they know exactly what is needed and can help you work through it all efficiently. They have handy tools like digital signatures, email delivery systems, and mobile signing capability that make signing a bunch of paperwork much less tedious. Problems could come up at any point in a deal and it’s best to know that you have a realtor on your side keeping you protected and the transaction running smoothly.
It’s hard to beat the convenience factor of having a realtor fiduciary to you, taking care of the stressful situations that come along with selling and buying a home. There are a lot of moving parts that go into it, let a realtor help you save time, money, and avoid potential hassles.
Lindsay Tracy Poisson | Lifestyle Properties | Keller Williams Realty Greater Portland