The housing market is different now because mortgage rates are higher and buyers aren’t buying as much as they used to. And if you want to sell your house, you should know how the market has changed and what that means for you. Working with a trusted housing market expert is the best way to make sure you know what’s going on.
Here are five ways that hiring a pro can help you make the most money from your sale.
1. A Real Estate Advisor Is an Expert on Market Trends
Leslie Rouda Smith, 2022 President of the National Association of Realtors (NAR), explains:
“During challenging and changing market conditions, one thing that’s calming and constant is the assurance that comes from a Realtor® being in your corner through every step of the home transaction. Consumers can rely on Realtors®’ unmatched work ethic, trusted guidance and objectivity to help manage the complexities associated with the home buying and selling process.”
A professional real estate advisor knows about the latest trends in your area and across the country. More importantly, they’ll know what all of this means for you, so they’ll be able to help you make a decision based on reliable data.
2. A Local Professional Knows How To Set the Right Price for Your House
This year, the increase in home prices has slowed down. If you try to sell your house on your own, you might be more likely to set a price that is too high because you don’t know as much about current prices. If you do, you might turn away buyers or have your house stay on the market longer.
When they help you set a price for your house, real estate agents look at it with a neutral eye. They’ll look at things like your home’s condition and any upgrades you’ve made, as well as recently sold homes in your area, to find the best price for the current market. These steps are important if you want it to go as fast as possible.
3. A Real Estate Advisor Helps Maximize Your Pool of Buyers
This year, there aren’t as many people looking to buy, so you should do what you can to bring in more people. Real estate agents have a lot of tools at their disposal, like social media followers, agency resources, and the Multiple Listing Service (MLS), to make sure that people looking to buy will see your house. Investopedia explains why it’s risky to sell without an agent’s network:
“You don’t have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home.”
If you don’t have access to the right tools and your agent doesn’t know how to market your home, you’ll have a small pool of buyers and a hard time selling your home.
4. A Real Estate Expert Will Read – and Understand – the Fine Print
When selling a house today, you have to follow more rules and give more information. That means you’ll have to keep track of even more legal papers. NAR says this about it:
“Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there’s a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language.”
A person who works in real estate knows what all the small print means and how to get through it quickly. They will help you look over the documents and avoid making mistakes that could cost you a lot of money if you try to do it on your own.
5. A Trusted Advisor Is a Skilled Negotiator
As bidding wars calm down in the market today, buyers are also getting more power in negotiations. If you don’t use a professional, you’ll also have to deal with any back-and-forth. This means that you’ll have to work with:
- The buyer, who is looking for the best deal,
- The buyer’s agent, who will use his or her knowledge to help the buyer,
- The inspection company works for the buyer and will almost always find problems with the house.
- The appraiser, who figures out how much the property is worth to keep the lender safe,
Instead of going up against all of these people on your own, you should get help from an expert. They’ll know what buttons to push, how to make everyone happy, and when you might want a second opinion.
Don’t do it by yourself. If you want to sell your house this winter, get in touch with a real estate agent in your area. This way, you’ll have an expert on your side who can help you navigate the market.