Should You Be Your Own Realtor?
Real Estate In The Parks – By Scott and Sam Hillman
Deciding to sell your home is a major decision. Many people weigh the pros and cons of moving, even if the move is only a few blocks away. What is surprising, though, is that many wrestle with the idea of hiring a real estate professional. The main reason people cite, for wrestling with this decision, is money. However, what people may be interested to know is that hiring a professional real estate agent could be advantageous, as agents are constantly watching and monitoring the real estate market. They are educated professionals who specialize in the field of real estate; their experience and knowledge combined is better for your bottom line.
Important elements to consider when deciding to hire a real estate professional:
Paperwork & Connections. Agents are familiar with and understand the paperwork that is necessary when negotiating the sale of a home. Additionally, professional real estate agents are closely connected to local mortgage lenders, real estate attorneys, title companies, and inspectors; this is beneficial as the agent is keenly aware of which ones are the best to work alongside.
Access to Buyers. When a home is listed with a real estate agent, they have access to a vast network of agents and buyers looking for a home like yours. They are well connected and have marketing power beyond what you can accomplish on your own.
Understanding the Market. Every day, real estate agents are studying the market to know and understand how area homes are selling; this includes the price point. A good agent will know how much you can realistically get out of your house. If a sale is done without a professional agent, then a significant amount of money could be left on the table by the seller, due to their lack of market knowledge.
Time lost. Professional real estate agents live, breathe, and sleep the industry; it is a full-time job to sell a home. Many people, in general, don’t have that sort of time or energy, and can quickly begin to feel overwhelmed. A professional will show your home, keep track of who is coming and going, and conduct the necessary follow-up related to interest in the home.
The Art of Negotiation. Price negotiation is a tedious process. It is during this time that sellers and buyers, who are not represented, can let their emotions get the better of them, and a sale can quickly go south. An agent will guide you through every aspect of the price negotiation. They maintain the business side of it and represent your interests as such. Again, their working knowledge of the real estate market is key, as they will advise on how to properly respond to an offer. This is where the rubber meets the pavement for a professional agent.
Professional real estate agents are the most powerful tool that sellers and buyers have in a real estate transaction. Deciding to hire a real estate professional to sell a home is similar in deciding to hire an electrician for electrical work; a roofing specialist to replace or repair a home’s roof; or even a pool company to build a pool in the backyard. Professional real estate agents are just that, professionals. Real estate is their job; they will ensure that your sale process is done correctly.
Scott Hillman is president of Fannie Hillman + Associates, a 35-year-old Winter Park-based real estate company specializing in residential real estate sales. Sam Hillman is a realtor and Market Analyst at Fannie Hillman + Associates. Together, they produce Hillman Homes, a customized quarterly publication showcasing local luxury listings, editorial features, and The Hillman Report, a semiannual look at residential real estate in Orange and Seminole counties. Read the latest issue on the company’s website (fanniehillman.com) or by calling (407) 644-1234 for a copy.