Buyers and sellers might look to save some money during this time by forgoing a real estate agent and opting for a “for sale by owner” transaction. However, by trying to rough it on their own, buyers and sellers might actually be leaving money on the table instead of saving it. Good real estate agents will use their knowledge of the local market and acquired skills to help you strike the perfect deal for the perfect home.
Negotiation Isn’t Easy
Unless you negotiate on a regular basis, the process of selling a home can be extremely stressful. No home is perfect, and yours may need some work to make the potential buyer happy. Unless you’re willing to take a cut in your selling price, a professional negotiator is a great person to have on your team.
Speed of Information
COVID-19 has put many people into high-stress mode, and this means that housing choices are being made quickly. If you’re selling on your own and other homes are being listed with realtors in your area, there may be data that you need that isn’t available yet. Nearly all potential buyers are going to start looking online. Unless you have a great series of professionally taken photos, a quality home tour video, and a marketing platform, you’re going to be behind other homes in your neighborhood.
Paperwork and Partnership
If you’re selling, you’re also likely buying another place. You need to successfully coordinate your move from your current home to your new home. You also need to manage multiple loans, possibly multiple applications, and make sure that your new lender is aware that you will have equity to contribute to your new home purchase, but you don’t know how much. Working with a realtor will help you find the mortgage broker with the best rates and can even help you if you hit a credit snag and need to seek alternative financing to get the deal done. All of this groundwork can be laid as your realtor is putting together a great online presentation of your home.
The People Factor
Imagine a typical day in your moving preparations. You get up early to do some cleaning, sorting and packing. You walk the dog, get the kids off to school or working online with their teacher, then you do your job for 8 hours. Now you have time for a bit more packing before it’s time to fix dinner. Just as you sit down to eat, you get a call from an interested party who needs to look at your house right now. How excited are you to drop everything to make time for this person?
Moving is a busy time. You have enough to do without managing potential viewers who
- may or may not show
- might have questions or concerns you’re not prepared to answer right now
- could be dishonest; fraud happens
- may just be gawking
A quality realtor can protect your time, give you a bit of breathing room to respond to questions, and manage appointments. With appointments scheduled by a realtor, you’ll have a heads-up on when you need to be ready for a showing.
The decision to move can be challenging, and the pandemic has added a layer of stress to the process. People looking to move are making quick decisions and moving within tight time windows. Working with a realtor can provide you with great negotiation support, boost your final sale price, and protect your sanity.