Why it’s Important to Hire a Full-Service Real Estate Broker When Selling Your House
Owning your own house is one of the biggest investments you’ll ever make. When it’s time to sell your house it’s important to protect your investment. One of the benefits of hiring an experienced, full-service real estate broker. Some real estate brokers provide minimal services for less commission. These brokers are called discount brokers. Sometimes saving a little more money in commission will cost you a lot more money in net proceeds from the sale of your house.
Make More Money By Hiring a Full-Service Real Estate Broker
A discount broker wants to get the listing agreement paperwork signed and put their sign in your yard. You may not hear from a discount broker again until you receive an offer on your house. Even then, sometimes a discount broker won’t be there for you. A full-service broker will work hard for you from getting your house ready for listing all the way through closing. The services they provide will usually get you more money for your house in the long run.
Comparative Market Analysis
Your broker will create a comparative market analysis (CMA) for you. The CMA will analyze the comparative properties that have closed, the properties that are active and the properties that are under contract. Your broker will suggest a listing price and discuss the negotiating process and the sales price goal with you. His goal is to get you the most money for your house.
Pre-Listing Advice and Staging
Your full-service real estate broker will give you suggestions on cosmetic updates that will help you get more money for your house. They may suggest that you paint or replace carpeting. They may suggest that you update your kitchen and bathrooms.
Your broker may suggest that you get a pre-listing home inspection and make some repairs before you list your house. He may even offer you staging advice or put you in contact with a professional staging company. All of these services will help you get more money for your house in the long run.
Professional Quality Listing Photos
Many full-service brokers will hire a professional real estate photographer to take the listing photos of your house. If your broker takes the photos, he should have a high-end camera and take professional quality photos. Almost all buyers search online for houses before they go see them in person with their real estate broker. This is why it’s so important that your listing photos show your house at its best.
Marketing and Listing Exposure
A full-service real estate broker has a comprehensive marketing program. This marketing program will expose your house to the maximum number of potential buyers. Your broker should put a for sale sign in your yard. You never know if a neighbor has a family member or friend who wants to move into the neighborhood. Sometimes buyers drive around looking for the top subdivisions they like to look for houses for sale. Your broker should put your listing in their local multiple listing system so other member brokers can see your listing and have a chance to show your house to their buyers.
Feedback on Showings
Your broker will communicate with you throughout the listing process. It’s very important for him to give you feedback on the showings. He should have a system in place to request feedback from all buyer’s agents that show your house. Then the feedback should be forwarded to you. If a buyer or a few buyers provide the same feedback on something you should change, you should consider addressing it. It’s especially nice to hear good feedback. This will help keep you thinking positively until an offer comes in.
Once you receive an offer on your house your full-service real estate broker should advise you on negotiating tactics. Your best interests should be his top priority. He will help you get the best price and the best terms for your sale. Your broker will help you negotiate a closing date that is convenient for you. They will make sure the buyers are financially qualified to become a homeowner by requesting a preapproval letter from their mortgage lender or verifying funds if it’s a cash purchase. He will negotiate the earnest money to make sure the buyers show they are serious.
Your real estate broker will also help negotiate any personal property or fixtures that are a part of the sales contract and will remain in the house.
Guidance Through the Buyer’s Inspection Period
The sales contract will allow for the buyers to have a professional home inspection during the first few days after the contract is signed. The buyers typically ask for repairs or replacements for any defects or safety hazards that are found in the house. Your full-service broker will guide you and advise you on how to respond to the buyers. In some states, attorneys are used by buyers and sellers.
The attorneys will write legal letters in regards to the home inspection issues. Your full-service broker can work with your attorney and guide you along the way. Your broker may also have professional, licensed and insured service companies to recommend to perform the repairs. These may include plumbers, electricians, heating and air conditioning companies, roofers, window companies and a handyman.
Help Get Ready For the Final Walkthrough and Closing
Your full-service broker will follow up with all of the contingencies throughout the entire sales process. When the contingencies are all met they will help you get ready for the final walkthrough and closing. Your broker may have a list of moving companies for you.
Your broker will give you advice on cleaning your house per the sales contract or give you a recommendation for a house cleaning company. Your broker will also give you a list of things to do such as calling utility companies to arrange for final readings, changing your address and more.
Many full-service real estate brokers attend their closings. Your broker can be there to answer any questions anyone has about the transaction and for your moral support. There will be a representative from the escrow or title company and sometimes attorneys at the closing. It’s nice to have your broker there, as well. Your broker should bring the key or keys to the closing that were in the lockbox. Sometimes real estate brokers even give their clients a closing gift.
Your full-service real estate broker has a goal to get you the most money, in the least amount of time and with the least amount of stress. Many brokers take on fiduciary responsibilities during the listing and sale process. Your broker will put your priorities and goals ahead of their own. That’s why it’s so important to hire a full-service real estate broker when selling your house.