Why Selling Your House with a Real Estate Professional Is Essential

Selling your house is no simple task. And when you sell on your own – known as a FSBO (or For Sale by Owner) – you’re responsible for handling some of the more difficult aspects of the process without the expert guidance you need.The 2021 Profile of Home Buyers and Sellers from the National Association of Realtors (NAR) surveys homeowners who recently sold their house on their own and asks what difficulties they faced. Those sellers say some of the biggest headaches are prepping their house for sale, pricing it right, and handling the required paperwork.Working with an agent is the best way to ensure you have an expert on your side to guide you at every turn. Agents have the skills and knowledge that are essential to navigating each step with ease, efficiency, and accuracy. Here are just a few things a real estate agent will do to make sure you get the most out of your sale.1. Make the Best First ImpressionSelling your house requires a significant amount of time and effort. Doing it right takes expertise and an understanding of today’s buyers. Your agent knows the answers to common questions, such as:Do I need to take down my personal art?How much landscaping does my house need?What colors should I paint my walls?Your time and money are important, and you don’t want to waste either one focusing on the wrong things. A real estate advisor relies on their experience to answer these questions and more, allowing you to make the right investments to prep your house before you list.2. Maximize Your Buyer Pool – and Your SaleToday, the average home is getting 3.6 offers per sale according to recent data from NAR. That’s great news if you’re planning to sell, since the more offers you receive, the more likely you are to sell your house in a bidding war, and for a higher price.Real estate agents have an assortment of tools at their disposal, like social media followers and agency resources, that will ensure your house is viewed by the most buyers. Without access to these tools and your agent’s marketing expertise, your buyer pool – and your home’s selling potential – is limited.3. Understand the Documentation, Including the Fine PrintToday, when a house is sold, more disclosures and regulations are mandatory, meaning the number of legal documents to juggle is growing. It’s hard to understand all the requirements and fine print (especially if you’re not an expert). That’s why your advisor is an invaluable guide.Your agent knows exactly what needs to happen, what all the paperwork means, and can work through it efficiently. They’ll help you review the documentation and avoid any costly missteps that could happen if you tackle it on your own.4. Act as Your Expert NegotiatorIf you sell without an agent, you’ll also be solely responsible for all negotiations. That means you have to coordinate with:The buyer, who wants the best deal possibleThe buyer’s agent, who will use their expertise to advocate for the buyerThe inspection company, which works for the buyer and will almost always find concerns with the houseThe appraiser, who assesses the property’s value to protect the lenderInstead of going toe-to-toe with all these parties alone, lean on an expert. Your agent relies on experience and training to make the right moves throughout the negotiation. They’ll know what levers to pull, how to address each individual concern, and when you may want to get a second opinion. When you sell your house yourself, you’ll need to be prepared to have these conversations on your own.5. Price It RightReal estate professionals have the expertise to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your house. These factors are key to making sure your house is priced to move quickly and get you the maximum return on your investment.When you sell as a FSBO, you’re operating without this advantage. That could cost you in the long run if you price your house too high or too low.Bottom LineThere’s a lot that goes into selling your house, and it takes time, effort, and expertise to truly maximize your sale. Instead of tackling it alone, let’s connect to make sure you have an expert on your side.

MORE

Expert Insights on the 2022 Housing Market

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022.Odeta Kushi, Deputy Chief Economist, First American:“Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.”Danielle Hale, Chief Economist, realtor.com: “Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first homes sooner than they might have otherwise. And with more than 45 million millennials within the prime first-time buying ages of 26-35 heading into 2022, we expect the market to remain competitive.”Lawrence Yun, Chief Economist, National Association of Realtors (NAR):“With more housing inventory to hit the market, the intense multiple offers will start to ease. Home prices will continue to rise but at a slower pace.”George Ratiu, Manager of Economic Research, realtor.com:“We also expect a growing number of homeowners to bring properties to market, taking some pressure off high prices and offering buyers more options.”Mark Fleming, Chief Economist, First American:“Strong demographic demand will continue to act as the wind in the housing market’s sails.”What Does This Mean for Buyers?Hope is on the horizon for 2022. You should see your options grow as more homes are listed and some of the peak intensity of buyer competition starts to ease. Just remember, rising rates and prices are a great motivator for you to find the home of your dreams sooner rather than later so you can buy while today’s affordability is still in your favor.What Does This Mean for Sellers?Make no mistake – this sellers’ market will remain in 2022 as home prices are projected to continue climbing, just at a more moderate pace. Selling your house while buyer demand is so high will truly put you in the driver’s seat. But don’t wait too long. With more listings projected to become available, your ideal window of opportunity to stand out from the crowd won’t last forever. Work with an agent who knows your local market and current inventory conditions to ensure you have the support you need to make an educated and informed decision about selling in the coming year.Bottom LineIf you’re thinking of buying or selling, 2022 may be your year. Let’s connect to discuss your goals and the unique opportunities you have in today’s housing market.

MORE

5 Tips for Making Your Best Offer on a Home

As a buyer in a sellers’ market, sometimes it can feel like you’re stuck between a rock and a hard place. When you’re ready to make an offer on a home, remember these five easy tips to help you rise above the competition.1. Know Your BudgetKnowing your budget and what you can afford is critical to your success as a homebuyer. The best way to understand your numbers is to work with a lender so you can get pre-approved for a loan. As Freddie Mac puts it:“This pre-approval allows you to look for a home with greater confidence and demonstrates to the seller that you are a serious buyer.”Showing sellers you’re serious can give you a competitive edge, and it helps you act quickly when you’ve found your perfect home.2. Be Ready To Move FastHomes are selling quickly in today’s competitive housing market. According to the Existing Home Sales Report from the National Association of Realtors (NAR):“Eighty-three percent of homes sold in November 2021 were on the market for less than a month.”When houses are selling this fast, staying on top of the market and moving quickly are key. Your agent can help you put together and submit your best offer as soon as you find the home you want to buy.3. Lean on a Real Estate ProfessionalNo matter what the housing market looks like, rely on a trusted real estate advisor. As Freddie Mac also notes:“The success of your homebuying journey largely depends on the company you keep. . . . Be sure to select experienced, trusted professionals who will help you make informed decisions and avoid any pitfalls.”Agents are experts in the local real estate market. They have insight into what’s worked for other buyers in your area and what sellers may be looking for in an offer. It may seem simple, but catering to what a seller needs can help your offer stand out.4. Make a Strong, but Fair OfferAccording to the latest Realtors Confidence Index from NAR, 40% of offers today are above the list price. In such a competitive market, emotions and prices can run high. Having an agent to help you submit a strong, yet fair offer is critical in these situations. Your agent can help you understand the market value of the home and recent sales trends in the area.5. Be a Flexible NegotiatorWhen putting together an offer, your trusted real estate advisor will help you consider which levers you can pull, including contract contingencies (conditions you set that the seller must meet for the purchase to be finalized). Of course, there are certain contingencies you don’t want to give up. Freddie Mac explains:“Resist the temptation to waive the inspection contingency, especially in a hot market or if the home is being sold ‘as-is’, which means the seller won’t pay for repairs. Without an inspection contingency, you could be stuck with a contract on a house you can’t afford to fix.”Bottom LineToday’s competitive landscape makes it more important than ever to make a strong offer on a home. Let’s connect to make sure you rise to the top along the way.

MORE