I’m certain that, by now, you’ve heard about this year’s mystifying real estate market. Perhaps you read my April Newsletter. Or, more likely, you’ve heard the painstaking groans and desperate cries of frustration from a friend or family member looking to purchase a home.
If you’re a buyer this year, I’m so sorry. The frustration associated with a tremendous lack of inventory and the unavoidable bidding war has, unfortunately, become an inevitability. But hang tight! Just a couple of weeks ago, one of our Sales Executives, Mark Crandall, secured contracts for 5 separate clients that found themselves in the midst of a bid war… over the course of two days! We have a few tricks up our sleeves…
As for sellers, if you’ve ever thought about listing your home, now is absolutely the time to do so. You’re probably well aware of the lack of inventory and the possibility of selling your home for top dollar in an incredibly short amount of time. So, you might be thinking why even bother with an agent? Beyond the obvious, I can think of an endless list of reasons as to why you should employ the expertise of a real estate agent. For now, I’ll share a few of the ones that I would consider to be most important and relevant in today’s market…
- You’ve probably heard a lot about bidding wars. (Hopefully, not solely in the context of losing out in one…) I would venture to guess that the average seller does not realize the work that goes into managing multiple offers on a property. There is an art to this type of negotiation – one that, if done correctly, will yield the highest profit! This is probably the biggest drawback to not using a licensed real estate agent. A skillful realtor knows how to ethically secure top dollar for their clients in the negotiation process. He or she knows how to play one offer off of another, maneuver through prospective buyers’ emotions, and utilize timing to their advantage. This, ultimately, puts the most amount of money in the pockets of the seller!
- A common mistake made by sellers who choose to forgo an agent, is not knowing what types of updates yield a profit. The benefit of a real estate agent (well, a good one!) is that they’re able to tell you exactly how much more you can get for your home if you update your kitchen or paint the interior. They can also help you to avoid costly mistakes such as replacing a roof that was perfectly functional or painting all of your interior walls white – neither of which will put more money in your pocket.
- A real estate agent can also connect you with attorneys and mortgage representatives with whom they’ve established relationships with. These can come in handy when you need to coordinate closing dates or secure mortgage commitment from your prospective buyer. Trust me, there is nothing worse, after all of your hard work, than a surprise right before closing…
- This one may seem pretty straight forward. In short, an agent can front the costs of print and digital advertising for your property. They can post pictures on their Facebook and generate a buzz via social media. They can schedule open houses and broker’s opens. That being said, good agents are plugged in and connected with the community, which maximizes your property’s exposure to prospective buyers. The larger their network, the more likely they are able to personally market your home and expose it to a refined subset of buyers. One of the reasons for our success has to do with the enormity of our network and our ability to introduce buyers relocating to Rochester to our clients’ listings. Rochester Regional Health, Paychex, U of R, Constellation Brands, etc. all routinely send us their newly hired transplants. This network of prospective buyers means the potential for more interest in your property and, ultimately, more money in your pocket!
We do all the work!
- Most importantly, employing the services of a real estate agent means that you get to kick your feet up and let someone else handle showings, inspection contingency removals, mortgage commitments, etc. Even if your home sells within the first 24 hours, there is still a tremendous amount of paperwork and follow up needed to transact a purchase offer. Let us do this work for you! Call us today if you’d like some more information about how it is that we can get you top-dollar for your home! 218-6275