The real estate market is competitive and confusing, which can make it difficult to know if a professional is worth the commission they charge. Here are three reasons why it’s a no-brainer to decide to hire a real estate agent to help you sell your home, even in a seller’s market.
Agents Specialize in the Real Estate Market
Agents go to real estate school to understand how to navigate the real estate market, which means you can trust them to know and understand the nuances of the industry. As experts in selling and buying homes, real estate agents know how to maneuver negotiations to get their clients to the closing finish line. One wrong decision could mean hundreds of thousands of dollars lost or gained when it comes to purchasing a property.
If you’ve never been through this process before, an expert can help explain what goes on throughout the entire transaction. Questions will no doubt arise, such as: What does escrow mean? When will it be time to close escrow? What information do I have to legally provide to buyers? You may not realize all the things sellers must disclose when they sell a house. Real estate agents are trained professionals who understand these nuances and won’t let anything slip past them during negotiations.
Real Estate Agents Have a Fiduciary Duty
Fiduciary duties are the highest duties under the law, and when you have an agent on your side, you can rest assured knowing they are bound by law to put your best interests first.
There are six specific fiduciary duties that an agent must uphold.
- Loyalty: The agent is at all times to act solely in the best interest of the principal, which is you, the client.
- Confidentiality: They’re obligated to safeguard and keep your secrets.
- Disclosure: They must inform you of all relevant material when it comes to the transaction. No secrets may be kept.
- Obedience: Real estate agents are obligated to obey all lawful instructions that you provide them, which means that even if they think you shouldn’t put an offer on a house, if you want the contract written, they must obey.
- Reasonable Care and Diligence: An agent must be dependable and willing to always pursue the best options for their client. Under this duty, agents are to use their superior skill and knowledge of the real estate industry while pursuing their principal’s affairs.
- Accounting: This duty compels an agent to safeguard any money, deed, or other document entrusted to them that relates to their client’s transactions or affairs.
Real estate agents work on commission, and they don’t get paid unless you successfully close on a sale. This alone makes an agent work even harder for you.
As a seller, you’ll get an expert who understands what buyers are looking for in your neighborhood, a professional who knows how to stage your home based on its surroundings and potential buyers’ tastes, and someone who will know how to price your home to stand out from the others.
There’s no need to be stressed out by all the paperwork and legalities that come with selling a home because you’ll have someone who can explain every part of the contract and offers that you’re receiving. Plus, agents know how to negotiate the best price for your property, which could help sell your home for more.
Hire a Professional
Before you decide to take on the challenge of selling your house on your own, I would love the opportunity to sit down and discuss your needs. Give me a call today to schedule your free, no-obligation consultation!