Is Hiring a Realtor Worth It? (the Answer Is Yes)
Every year in the United States, over 5 million homes find new owners.
Whether you’re looking to sell an existing home or buy a new one, it’s clear you’re not the only one in the market. Although the COVID-19 pandemic has significantly disrupted the residential real estate market, there’s still some activity, and as vaccines hit the shelves, you can expect to see the market get more active.
However, there’s one thing bothering you right now: is hiring a realtor worth it?
Most prospective sellers and buyers hire real estate agents, but there are those who don’t. Which path do you want to take?
In this article, we’re telling you why it’s super important to have a realtor on your team when you’re selling or buying a house.
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Nationally, the real estate market of 2020 isn’t the same as the real estate market of 2019, obviously because of the coronavirus.
If you’re not a real estate expert, it can be difficult to know how the pandemic has affected the market, especially with regard to home values. It’s easy to assume that values have gone down, but that would be to generalize everything.
When you’re buying a home, you want to get the best prices. And when you’re selling, you want to sell at a high price. Knowing what’s happening in the market is key to achieving your goal.
For example, if home prices are currently taking a beating, it’s not wise to put your home on the market. But if you’re looking to buy, now would be the best time to snap up a property at a killer price.
The big question is: where do you get these market insights? Simple. Hire a realtor.
These professionals have a superior understanding of the real estate market, especially your local market. They know whether prices are going down, sideways, or up. They can state, with a good level of certainty, what the market will look like in the next year or two.
With such insights, you’ll be in a better position to make an informed decision on whether to step into the market or hold your horses.
Preparing the Property for the Market
When selling a house, you aren’t just going to slap a “for sale” sign in your front gate and wait for prospective buyers to start making inquiries. Do this only when you want to lose a lot of money on the sale.
You need to prepare the home for the market. This might involve making some repairs, repainting the walls, doing a deep clean, and working on the lawn. Generally, you want to lift the home’s curb appeal before listing it.
It’s also possible that you might need to stage it, especially if your local market is ultra-competitive. All these preparations help to increase the value, hence listing price, of your home.
Do you have what it takes to adequately prepare it for the market? It’s not even about having the time, it’s more about having the know-how.
Unless you’ve sold a couple of homes before, you certainly don’t know how to prep a home for sale. This is another reason hiring a realtor is worth it. These pros know how to prepare a home; they will advise you on the repairs and upgrades that will yield the highest return on investment. If a home renovation contractor needs to be hired, they’ll take charge of the process.
Listing and Marketing
Preparing a home for the market is a good place to start, but it doesn’t guarantee a quick sale.
Like any product, the home needs to be listed and marketed to prospective buyers. Perhaps you’re thinking this is something you can do on your own. After all, what’s so hard about listing a home on real estate classifieds and marketing it on social media platforms?
It might look easy, but wait until your listing goes for a month or two without generating any inquiry then you’ll know how hard real estate marketing can be. But with a realtor working for you, you can count on them to deploy a listing and marketing strategy that will help the home sell quickly.
For one, real estate classifieds sites aren’t created equal. Some get more traffic than others. A realtor knows the best platforms to list your home. They’ve got the equipment to take high-quality photos and videos of your home to accompany the listing.
If necessary, your realtor can deploy paid ads, especially if you want the house to sell fast.
Handling Offers and Negotiations
With your property on the market, it’s only a matter of time until offers start streaming in.
Handling prospective buyers requires expertise, which you probably lack. A realtor knows how to handle people who’re interested in the property. In fact, a realtor can turn a speculative house hunter into a buyer!
Then, there’s the bit about negotiations.
Don’t expect buyers to offer what you’re asking on the home. They’ll go lower, obviously expecting you to come down and meet them somewhere in the middle. For this to happen, you need excellent negotiation skills. You must know when to hold on to your quote and when to budge.
Why do all that hard work when you can hire a realtor to do it? Plus, there’s a lot of closing paperwork that needs to be completed. A realtor will help with that too.
Is Hiring a Realtor Worth It?
So, is hiring a realtor worth it? To this end, there can only be one answer: yes!
A realtor is an invaluable hand to have, whether you’re buying or selling a home. They’ll work to ensure you get the best deal and everything is done above board.
Start looking for a realtor near you, and keep reading our blog for more tips.