Whether selling or buying a house, you indeed must have known about the advantages of hiring a real estate agent. But do you really know what a real estate agent can do for you?
Real estate agents connect buyers and sellers and guide these two parties through the real estate transaction.
Typically, the real estate agent represents and works with property owners helping them complete their real estate transactions. For instance, if you are selling a property, the real estate agent ensures your property is visible on multiple listing services and organises an open house on your behalf.
Real estate agents take up administrative, research, and marketing tasks involved throughout the real estate transactions.
That said, you might be wondering what real estate agents charge. Real estate agents earn a commission, a percentage of the property sale price. Therefore, the rate real estate agents charge depends on their location and agency.
In this article, we illustrate what real estate agents do. You will read the top benefits of hiring a real estate agent to manage your property business.
Preparing Your Property For Sale
An experienced real estate agent understands how to maximise a property's value so the property owner receives a top-dollar offer. The listing agent will come to your property and identify any quick improvements you should complete to increase your property's price. Experienced real estate agents work with home improvement experts like inspectors, landscapers, and stagers to prepare a property for sale. An excellent real estate agent evaluates the return on investment before advising the seller to make improvements.
Home Listing on Multiple Listing Service and Property Search Websites
An effective real estate agent does not only place a "For Sale" sign in the yard. They list the property on the listing service, their agency's website, and multiple property search websites. To ensure the property gets noticed by potential buyers quickly, the agents list it on various social media pages and share the property via their professional network as well.
To attract buyers' attention, the agent uses a professional real estate photographer who takes photos and even creates videos so interested buyers can take a virtual tour around the property. An experienced agent is on the top of the game regarding real estate marketing services and will have a strategic marketing plan. At Laguna we believe this is essential to achieve the best price for our sellers.
Licensed Real Estate Agent Ensures Price Is Within Market Rate
Another reason real estate agents are effective is that they understand their market. The real estate agent does a thorough comparative market analysis. The process involves reviewing homes and comparing features to determine the most competitive price ranges.
Beware of agents that may over appraise a property to buy listings. This process is illegal and in the long term can be detrimental to the sales price. When a property is listed at a price higher than market value the property can sit for long periods of time with very little enquiry.
In order to get traction, prices can be slashed and in the long term can result in them being sold at prices lower than the market value. To ensure you have a market value, always endeavour to try to obtain at least 3 market appraisals to ensure you market your property at the right price and with the right agent.
Takes Care Of Real Estate Transaction Paperwork
Selling a property can be a complicated process requiring substantial documents. One of the most important responsibilities when selling a property is ensuring all parties' paperwork is done correctly. Only an experienced real estate agent understands the full scope of paperwork that goes into real estate transactions. Examples of documents you need to take care of to complete a real estate transaction include:
- Listing form
- Disclosure information
- Pool Compliance and Safety information
- Withholding tax information
- Title deeds
- Contract for sale
- Settlement statement
Experienced real estate agents understand the process of preparing vital documentation to ensure the property sale process is compliant and protects both parties.
Real Estate Agents Find and Vet Potential Buyers
In selling your home, you want to keep the largest pool of potential buyers while ensuring you secure the best price. Honestly, this can be an overwhelming exercise if you lack industry knowledge and experience.
An experienced real estate agent can act on your behalf to weigh potential buyers and their offers. Besides, real estate agents work with the buyer's agent or other real estate agents and make a shortlist of the best offers, considering the buyer's position and settlement timing.
Closing Real Estate Transaction
The last step in the buying and selling process is the real estate closing. Once an offer has been accepted, the seller's agent works with the property owner and buyer's agent to prepare the purchase agreement and set a closing date. Upon closing, the real estate agent oversees the formal property transfer process, after which the buyer can move in or start a renovation process.
Reducing Likelihood of Litigation
Having an agent look after the formal paper reduces the chance of litigation. In such a litigious environment it is important that you are protected by employing experts.
Ensures All Conditions Are Met
Real estate agents also take deposits and hold them in their trust account. They ensure all conditions on the contract are met such as deposit being paid, building and pest, finance clauses and other conditions that have been added upon either party's request.
Selling a property can be daunting. Hiring a seasoned real estate agent simplifies the entire process and helps you sell faster. Therefore, consider hiring an experienced real estate agent rather than do self-listing.
Laguna Real Estate is one of the most successful agencies and the ideal real estate agent serving the Sunshine Coast. We have an award-winning team who understands the real estate industry and are ready to help sellers through the daunting process of selling a property. Contact us today, and we will help you through the process of selling your home.