By using a good real estate agent empowered with knowledge and resources, homeowners can benefit from a better final sale price of their property and also the time it spends on the market
Many homeowners consider going the DIY route when selling their property, or choose an agent who gives them the highest valuation for their home. This is especially true in a tough market already under pressure from high interest rates and rising living costs. It’s only natural that one wants to secure the best possible price possible for your property, but it’s good to keep in mind that having the right agent onside can make a world of difference to your final sale price.
Cobus Odendaal, CEO of Lew Geffen Sotheby’s International Realty in Johannesburg and Randburg, comments that, “While it may be tempting to list your home independently to save on commission, there is a lot more to selling a home than placing an ad online and, unless you have more than a passing acquaintance with several fields, including finance and property law, a successful sale at the best possible price is unlikely.”
“Similarly, the highest valuation is seldom the best valuation and is very often an indication that the agent has their commission rather than your best interests at heart, especially if the valuation is notably higher than the others,” he says.
In his view, the most critical decision you make when selling your home is when you appoint an agent, because a skilled and experienced agent needs to have specific skills to ensure a seamless transaction and the fastest sale at the best possible price. He sums it up:
1. The right price
One of the primary roles of a real estate agent is to help you set the right price for your property because overpricing can deter potential buyers, leading to a longer time on the market, while under-pricing can result in a loss of potential profit.
A knowledgeable agent will conduct a thorough market analysis, taking into account comparable sales in your area, current market conditions, and your home’s unique features to establish an optimal listing price.
2. Marketing know-how
Marketing plays a pivotal role in attracting potential buyers to your property and a skilled real estate agent will develop a comprehensive marketing plan tailored to your home. This may include professional photography, virtual tours, online listings, open houses, and targeted advertising. With a well-executed marketing strategy, your agent can generate more interest and competition among buyers, potentially driving up the final sale price.
3. Networks and resources
Experienced agents have a wide network of contacts, a buyer database and associated resources at their disposal. They can tap into their professional connections to find motivated buyers or connect with other agents who may have suitable clients. This network can be instrumental in identifying serious buyers willing to pay a premium for your property.
4. Negotiation skills
Negotiation is an art, and agents are often adept negotiators. They have experience navigating complex negotiations to secure the best deal for their clients. Whether it’s negotiating the initial offer, handling counteroffers, or resolving inspection issues, a real estate agent’s negotiation skills can help you maximize your home’s sale price while ensuring a smooth transaction.
5. Trends and preferences
Real estate agents are immersed in the market daily, giving them valuable insights into current trends and buyer preferences. They can provide guidance during the whole process, from which home improvements or repairs are worth investing in to increase your home’s value to accepting an offer. Their knowledge of what buyers are looking for can help you make informed decisions that appeal to potential purchasers.
6. Pre-screening buyers
A real estate agent will be able to pre-screen potential buyers, ensuring that only serious and financially qualified individuals visit your home. This saves you time and minimizes the inconvenience of having countless showings that lead nowhere and also increases the likelihood of attracting motivated buyers who are willing to pay a competitive price.
7. Paperwork and compliance
Real estate transactions involve a significant amount of paperwork, including contracts, disclosures, and legal documents and an experienced agent is well-versed in these documents, ensuring that everything is completed accurately and in compliance with local regulations. Any oversight in the paperwork can be costly and time-consuming, so having an expert on your side is invaluable.
8. Objective intermediary
Selling a home can be an emotional experience and your attachment to your property may cloud your judgment when it comes to negotiations or decision-making. A real estate agent serves as an objective and level-headed intermediary, helping you stay focused on your goals and preventing emotions from derailing the process.
9. Accessibility and availability
Real estate transactions often require quick responses and immediate availability for showings, inspections, and negotiations and a dedicated agent will be readily accessible to handle inquiries and issues promptly, maximizing your chances of securing the best price within your desired timeframe.
10. After the fact
Even after an offer is accepted, there are still many steps to navigate, including home inspections, appraisals, conditions to be met and the closing process. A real estate agent continues to work on your behalf, coordinating these aspects to ensure a smooth and successful closing. Their expertise can help you address any post-inspection concerns while keeping the deal on track.
“At the end of the day, a good real estate agent is more than just a facilitator of transactions – they are skilled professionals who bring a wealth of knowledge, experience and resources to the table,” Odendaal says. “By entrusting the sale of your home to an expert, you increase your chances of not only getting the best price but also enjoying a stress-free and efficient process.” Ultimately, with the right agent onside, you not only increase your chances of a successful sale, but also maximise the return on your investment.
