Whether buying or selling? Just a few of the reasons to leave it to a professional!
According to Collateral Analytics, homes sold by owners without representation sell for significantly lower than those from similar properties sold by real estate agents.
- What is all this required paperwork?
Contracts are legally binding and assign obligation and liability. If there is a state law requiring disclosure, it is highly likely the creation of that disclosure arose from the basis of a lawsuit. For the third time in four years, California has earned the title of the nation’s capital for frivolous lawsuits. People are more willing to sue today than ever before. Realtors are not only versed in the contracts and disclosures, their license accreditation requires hours of continued education. Real Estate contracts and forms are constantly being modified as the laws change. Real estate professionals can guide you through the stacks of paperwork necessary for you to complete your transaction smoothly and effectively.
- Are you practiced in the Art of Negotiation?
Real estate agents are experienced in negotiation and have many hours of transaction coordination and management. Within the course of a sale and then escrow, buyers as well as sellers will need to be knowledgeable of, and address conditions and sometimes situations that arise within the process resulting from inspections, repairs, and negotiations. It’s worth noting that these vendors have developed professional relationships with brokers and agents. They are accountable to these relationships from whom they receive considerable business.
Here is a partial list of some of the people with whom the buyer/seller must be prepared to negotiate:
- The buyer/seller who wants the best deal possible
- The buyer’s/seller’s agent who solely represents the best interest of their client
- The home inspection companies, which work for the buyer and will almost always find some problems with the house.
- Quotes from contractors, inspectors, and other vendors hired to justify or rectify conditions within the contract.
- The appraiser if there is a question of value
- The buyer’s lender
- The title company as matters affecting title arise
- When there is a contingency of the sale, possible negotiations with even the buyer’s buyer if there are challenges on the house the buyer is selling.
- What is the home you’re buying/selling really worth?......and it’s not what Zillow says…...
There is a wealth of information out there on the news and internet about home sales, prices, and mortgage rates. Some of it is current. Some is old. Some is inaccurate. Some is even fake. But what about the market specifically in your area? Hiring an agent who has his or her finger on the pulse of the market will make your buying or selling experience an educated one.
Is the home priced correctly? This is an extremely important consideration of both the buyer and the seller. Buyers need to know true value not only to insure they are not overpaying but also to avoid the risk of offending the seller with a lowball offer and creating the threat of a strained transaction. If you are selling, you can’t afford to detour buyer’s attention by pricing too high from the start. Too many “Days On Market” might suggest issues with the product or asking price.
The prudent buyer or seller will do well to warrant the representation of a Realtor® who is not emotionally connected to the home and who has an objective eye.
San Luis Obispo Realty strives to maintain the highest level of service within our community!
Think of us for any of your real estate needs!