What Does a Realtor Do for the Home Seller?
Just about anyone who has ever sold a home with the help of a knowledgeable Realtor appreciates the role they played in counseling, guiding, advising, and managing the process.
Roles of a Professional Realtor When Selling a Home
Once a home seller connects with a knowledgeable Realtor to market and sell a home, they have an advocate whose focus is to attract the attention of prospective buyers and sell the property at the best possible price.
Establishing a Realistic Selling Price
The Realtor’s initial activity involves consulting with the home seller to discuss needs, urgency, and pricing expectations.
The professional Realtor may also suggest specific cosmetic improvements or basic repairs to enhance buyer impressions of the home during showings. Pricing above the market usually means extending the time the home will stay on the market and sometimes lowering the price to regain buyer interest.
Marketing the Property
Retail 101 suggests that when more people view something, it is more likely to sell. Therefore, creating demand is a prominent role of a Realtor, positioning the property so that as many interested buyers as possible will know the home is for sale.
At the outset, the Realtor will list the property on the Multiple Listing (MLS) for buyers and their representative to view and compare. Once showings begin, the Realtor seeks out and collects feedback from the agents of prospective buyers. When shared with the home seller, this information helps determine whether the current strategy and pricing are on the mark or if changes are warranted.
Negotiating the Offers
In a sellers’ market, some homes receive multiple offers quickly. If this happens, the seller’s Realtor will help review the offers. Regardless of the number of offers, the Realtor might suggest considering other factors besides price, such as offer contingencies or the proposed time to closing.
When an offer comes in that does not quite reach the asking price, the seller’s Realtor can offer suggestions about submitting a counteroffer that may lessen inspection repair demands from a prospective buyer.
Oversee the Paperwork
The seller’s Realtor is responsible for ensuring the recording of all supporting documents and the closing statement are correct and remains on guard to eliminate or mitigate any mistakes or potential conflicts.
Contacting a Reputable, Experienced Realtor
When deciding to sell, homeowners should first contact a proven professional Realtor to facilitate their home selling process. Many who have chosen to “go it alone” have been disappointed with the ultimate return on their investment and the myriad of headaches that can occur by trying to avoid Realtor commissions. In many instances, these home sellers ended up working with a Realtor anyway.