The days are long gone where you could place a for sale sign in the front yard and wait for potential buyers to submit an offer. While some traditional marketing methods still work, you want a real estate agent who understands the current market trends and what it takes to sell a home integrating modern marketing skills and technology with old-fashioned market knowledge, negotiation skills, and deep experience and expertise.
- 💡 Tip One – Knowledge of the Local Real Estate Market
- ⭐️ Tip Two – Make sure they know what they are doing
- 💡 Tip Three – Knowing Your Home’s Value
- ⭐️ Tip Four – Setting the Right Asking Price
- 💡 Tip Five – Staging Your Property to Sell
- ⭐️ Tip Six – Marketing Power
- 💡 Tip Seven – Negotiation Skills are a Must
💡 Tip One – Knowledge of the Local Real Estate Market
You want a real estate agent who has experience. This is a key to success when it comes to understanding how global real estate market trends impact your local area and your property specifically.
A real estate agent can use this knowledge to help you target potential buyers who are in the market for a home like yours. Choose a real estate agent who understands the unique dynamics of your area and can market locally and globally. You don’t want someone who lives and works an hour away. Chances are that they won’t know the nuances of your community and that can cost you in the end. It’s also very helpful to you if they are closes by as they can check on your property while you’re away.
⭐️ Tip Two – Make sure they know what they are doing
Beyond marketing and finding the buyer, make sure your real estate agent also understands how to successfully evaluate the buyer’s ability and motivation to buy your home, and can navigate all the pieces of your home sale to a successful closing.
Ask them how many of their listings expire or are cancelled, and what percentage of their contracts make it to closing. This data is important. Ask for hard data and specifics. Ask for examples how they plan to ensure the transaction goes smoothly and gets to closing. Listen for clues.
💡 Tip Three – Knowing Your Home’s Value
You can lay a foundation when it comes to learning the value of your home by using an online home valuation calculator. This calculator will give you a basic idea of the value range of your property.
To get a more accurate idea of your home’s worth, you’ll want your real estate agent to provide you with a comprehensive report that factors in local market trends, other homes being sold in the area that are similar to yours, and any upgrades and updates you’ve made to the home.
You want a real estate agent who in honest with you when it comes to expected selling price. Some agents tell you what you want to hear, but that won’t help you. It’s important to have an agent on your side who speaks in a straight forward manner when it comes to one of the biggest investments you hold. After all, you don’t want to give it away, and you need an agent who will help you maximize the sale price, competently work through all the transactional pieces to get to a successful closing, and get you the highest net proceeds.
⭐️ Tip Four – Setting the Right Asking Price
We’ve mentioned the importance of having a real estate agent who speaks honestly. When it comes to advising you on the asking price that makes sense for your home, this honest approach becomes critical for a successful sale.
Your real estate agent should advise you when it comes to the asking price, but you have the final say in any decisions regarding the listing price. Find a real estate agent who has a good track record of successful listing prices and the percentage of that price that the seller receives. Also, be sure they have had few fall-thrus. After all, a great contract is futile if there is no closing.
💡 Tip Five – Staging Your Property to Sell
Choose a real estate agent who understands the importance of staging and can help you present your home in the most appealing manner. They may recommend a professional stager or have helpful tips for staging your property.
You get one chance to make a first impression and that chance often comes before the potential buyer is parked in the driveway. Today’s buyers have access to photos of your home at the touch of a finger, and you want those photos to make them interested enough to take a closer look in person.
⭐️ Tip Six – Marketing Power
You want a real estate agent to have a robust marketing plan. While you can sell your home without too much effort if the market is strong, you will sell for more if the marketing plan is comprehensive (we have a 77 Point Marketing Plan, for example) and it must be executed flawlessly.
Additionally, they must have a strong online presence and a good website that helps them market your listing to potential buyers.
💡 Tip Seven – Negotiation Skills are a Must
When it comes down to the wire, you want a real estate agent with strong negotiations skills. They need to understand your goals, be your advocate and negotiate for you with finesse.
When it comes to counteroffers, appraisal details, and inspection issues, – and there are many things that can go awry, so you absolutely need your broker to be able to successfully tackle the tough things on your behalf and get you to the closing without missing a step! We call that being your “shock-absorber”!