Often times homeowners wonder where to turn first when it’s time to sell their home. Real estate transactions are one of the biggest financial investments people will experience in their lifetime, usually exceeding $100,000. With this high of a cost, why wouldn’t you want to make sure you utilize every resource possible? Here are the top three home selling resources that will help you through the journey of selling your home.
No. 3 An Appraiser
You know how much you paid for your home, how much the city evaluates your home to be, and what your REALTOR® thinks your home could sell for, but you are confused about which number is the “correct” one- and with good reason. The short answer could very well be…. none. Commonly, these three numbers vary widely, causing confusion when it’s time to sell.
Here’s a quick breakdown of where those differing numbers come from: The price you paid for the home and the price your REALTOR® suggests are based on the market conditions, which can vary from year to year based on recent sales in your area. The price the city evaluates your home to be is based on the cash or market value at the time of purchase. While this value often goes up each year, it frequently will not match the trends of the real estate market. Knowing this, you may decide that getting an accurate estimate of how much your home is worth in TODAY’s market is not a bad idea. While a REALTOR®’s CMA is very similar to what an appraiser would work up, in certain situations a full professional appraisal might be an important reality check. If you are confused about the value of your home, have interviewed several different agents- each one coming up with a completely different price, or your home is so unique that there are no other homes around it to compare, you may need a licensed appraiser to check it out.
No. 2 The Internet
When selling your home, your REALTOR® should provide a marketing plan. Above all, an Internet strategy should be included in this plan. As the marketing coordinator for your home, your agent is responsible for utilizing every available platform they can to ensure exposure of your home. According to a 2013 report by The National Association of REALTOR®s, 90% of homebuyers searched online during their home buying process. Buyers looked at a variety of different sites to find homes, often times finding the house they eventually purchased on the Internet before hearing about it from a real estate agent. Announcing your home's availability to the real estate marketplace on the Internet is a must. And, because of your Realtor’s access to the MLS, they will be able to swiftly and effectively shoot the news of your home’s presence on the market to all of the important real estate sites.
But it’s not just your REALT OR® and buyers that will benefit from the Internet as a resource during the time your home is listed. When your REALTOR® isn’t there by your side to answer your questions, the worldwide web can be the best resource available to you. Want to know about staging your home? There’s an article for that. Want to know how much your closing fees will be? There’s an online calculator for that. Want to know how many days homes are on the market for in your area? There’s a local market report for that. The point is, no matter what questions you have during the selling process, if your REALTOR® can’t answer it right away, there’s always good ol’ Google to help you out.
No. 1 A REALTOR®
If you haven’t already been convinced that a REALTOR® is a great resource by the above prose, take into account that in 2012 88% of sellers used a real estate agent. Why such an overwhelming number? Because REALTOR®s are the most valuable resource to home sellers given their market knowledge, access to a wide variety of tools, and an understanding of complex, always-changing real estate regulations.
REA LTOR®s live and breathe real estate, and they know the local market better than anyone. All that, coupled with the fact that they have access to the freshest sale data, make REALTOR®’s your best resource for pricing your house in line with the market to maximize your earnings.
Furthermore, with today’s contracts adding up to lengthy amounts, not counting addendums and riders, your REALTOR® is the best resource in helping you navigate these complex documents.
Finally, it’s important to understand that REALTOR®s are immersed in real estate, and are required to stay current with all the updates in regulations, laws, contracts and practices. What better resource can you have than a licensed point of contact who knows their industry like the back of their hand? It’s quite simple, once you have hired a REAL TOR®, use them as your number one resource and let them put their knowledge to work for you.