Difficulties of Selling Your Own Home: How a Great Listing Agent Can Help
As real estate markets throughout the United States show signs of rebounding, many home owners are once again considering selling their homes. Home values across the nation plummeted in recent years because of the overall recession. As a result most real estate markets became a “buyer’s market.”
In a buyer’s market, there is typically an abundance of inventory at reasonable or rock-bottom prices. Those conditions flourished in many markets throughout the United States for several years during the recession; however, signs are pointing to a significant shift across the country. In fact, some markets are changing from a buyer’s market to a seller’s market almost overnight, meaning the prices for these properties are increasing.
Figures released for the second quarter of 2013 indicate that sale prices across the country are slowly rising. According to ZipRealty's new Housing Trends Report, many markets are showing a 16.4% year-over-year increase.
If you are planning to put your house on the market, or contemplating selling your home, it would be a good idea to meet with an experienced real estate agent who can help you navigate this process.
The benefits of working with a real estate agent:
Price: Determining a reasonable listing price for your home can be difficult, particularly in a rapidly changing market. Pricing your home too high can lead to months on the market with no activity. On the other hand, undervaluing your home means lost equity. A real estate agent has access to “comps,” or comparable homes that have sold in your area. By analyzing those comps, an agent can help you select the right listing price for your home.
Marketing: The key to selling your home is marketing your home. If potential buyers cannot find your home, it will potentially remain on the market unsold. Ads in local newspapers, flyers, yard signs and online ads can certainly help market your home. In addition, a real estate agent can add your home to the local Multiple Listing Service (MLS). Listing your home on the MLS is a major advantage since many buyer’s agents use it to identify homes for sale in the market. Properties on your local MLS may also be listed on websites like ZipRealty.com, which helps notify homebuyers that your house is for sale. An agent also has an extensive network of contacts that can give you a competitive advantage in finding a right buyer for your home.
Negotiations: The goal of listing your home for sale is getting one or more offers to purchase the property. Once you receive an offer, it’s time to enter into negotiations. If you have never been through a real estate negotiation, one small mistake could potentially cost you thousands of dollars and a considerable amount of time. By retaining the services of a real estate agent, negotiations will probably be more beneficial to you, and you will more likely receive the maximum amount of money for your home.
If you have been waiting for the right time to list your home for sale, now may be the time. Nevertheless, market conditions continue to change rapidly, so enlisting the services of a real estate agent will help to ensure that you will make the most informed decisions to receive the maximum amount of compensation for your property.