Considering selling your home? It’s possible that you’re doing so because you’ve heard that prices are rising, listings are selling quickly, and sellers are receiving multiple offers on their properties. But what is it about today’s market that is so favorable for sellers? And what can you expect when you make the decision to sell a property in Utah real estate?
Today, there are far more buyers looking for homes than there are sellers who are willing to list their properties.
Working with a real estate professional has never been more important than it is now, given the rapidity with which today’s Utah real estate market is moving. They have the knowledge, skills, and expertise necessary to successfully navigate the highly detailed and time-consuming process of selling a house. Perhaps this explains why the percentage of people who list their homes for sale on their own, also known as FSBO or For Sale by Owner, has dropped to its lowest level since 1985.
Five reasons why selling with the assistance of a real estate professional makes more sense, even in today’s competitive Utah real estate market:
Real estate agents are aware of what prospective buyers are looking for.
Consult with real estate investment companies before making any decisions about which projects and repairs to undertake. They have first-hand knowledge of today’s buyers, what they are looking for, and what you should do to ensure that your home is presented in the best possible light.
If you don’t rely on their knowledge, you may end up wasting your time and money on something that isn’t absolutely necessary. This is due to the fact that, in today’s low-inventory market, buyers are more willing to undertake more of the necessary renovation work themselves.
A professional can assist you in determining what tasks you need to complete. Not just any advice you could find on the internet – these are recommendations tailored specifically to your home and neighborhood.
Do you know that professional real estate agents can assist you in expanding your buyer pool?
According to recent data from the National Association of Realtors (NAR), the average home today receives 4.8 offers per sale, and the increased competition is driving up prices. While this is encouraging news for you as a seller, it’s important to understand the role your agent plays in bringing buyers into the picture.
Real estate professionals have a variety of tools at their disposal, including social media followers, agency resources, and the Multiple Listing Service (MLS), to ensure that your home is seen by the greatest number of buyers.
Only licensed real estate agents are permitted to list homes on the Multiple Listing Service (MLS), which serves as a sort of one-stop online shop for getting a house seen by thousands of agents and home buyers. This is undoubtedly one of the numerous compelling reasons why the vast majority of home sellers choose to work with a listing agent rather than go it alone when selling their home.
Your buyer pool will be limited if you do not have access to these tools. In addition, you want as many buyers as possible to come to see your home because buyer competition can drive your final sales price up.
Never underestimate the skill set of real estate agents
More disclosures and regulations are now required when selling a home in today’s market. As a result, the number of legal documents you’ll have to manage is increasing.
When working with a real estate professional, you can rest assured that they understand what needs to be done, what all of the paperwork means, and how to move through the process quickly. When you hire an attorney, they will assist you in reviewing the documents and avoiding any costly mistakes that could occur if you attempt to handle them on your own.
They’ve Received Specialized Negotiation Training
If you sell your home without the assistance of a professional, you will be solely responsible for all of the negotiations. As a result, you’ll need to work with the following people:
- The buyer, who is looking for the best possible deal
- The buyer’s agent, who will use their knowledge and experience to advocate on the buyer’s behalf.
- The inspection company, which works for the buyer and will almost always find issues with the house, is a good source of information.
- The appraiser, who determines the value of a property in order to protect the lender.
Instead of going head-to-head with all of these parties on your own, enlist the help of an expert. They’ll know what buttons to push, how to address everyone’s concerns, and when it’s time to seek a second opinion, among other things.
They are well-versed in determining the appropriate price for your home.
If you sell your home on your own, you may find yourself over or underestimating the value of your home. It’s possible that you’ll lose money because you priced your home too low, or that your home will sit on the market because you priced it too high. It takes experience to determine the value of a home.
Real estate professionals are well-versed in the ins and outs of how to accurately and competitively price a home for sale. For this, they compare your home to recently sold homes in your neighborhood while also taking into consideration the current condition of your home. These considerations are critical in ensuring that your property is priced to sell quickly while still achieving the highest possible final sale price.
Several consumers are concerned about what will happen to the value of their homes over the next few years. Some people are concerned that the recent surge in home prices will result in a situation similar to that which occurred 15 years ago during the housing crash.
When it comes to selling your home, there is a lot to consider. Instead of going it alone, let’s get together so you can have an expert by your side throughout the entire process.
Read more: realtor near me