31 Aug Benefits and Advantages of Selling Your Real Estate Property through a Broker
In the last five years, the proliferation of online real estate listings have made it easier for buyers and sellers to acquire/sell property.
This also gave direct sellers an easy platform to sell their property without any help from a real estate broker.
To the inexperienced seller, its pros outweigh the cons, but with further inspection, hiring a broker is actually more beneficial. Here are ten reasons why:
Access to an Extensive Network
Reality check: don’t expect your listing to fly off the shelf instantly once you’ve posted it because people will always have reservations buying from a stranger. Here’s where a broker’s network will work its magic.
Aside from knowing the ins and outs of the market, years of experience have helped them establish connections that will help you when need arises.
They work with loan officers, lawyers, architects, and house inspectors that will help the transaction run smoothly.
Additionally, they can make recommendations because they know which vendors are efficient, competent, and affordable. Factor this in and this will help you make a good and sound decision.
They Know the Paperworks by Heart
Selling a property comes with a mountain of paperwork and if you do this by yourself, it will eat up a lot of your time, not to mention that it is also stressful.
A real estate broker knows the drill when it comes to paperworks and ensures that it is completed accurately and on-time. They know where to file the necessary papers and to whom thus they get things done precisely.
Filing the paperworks on your own might cause a disruption in your schedule so hire a licensed real estate broker because it is the quickest way to a successful sale at best price.
Give Accurate Value of your Property
Property valuation is the single most important aspect in selling a house, and real estate agents are in unison to say that to gauge its correct value, you must know the price of the most recently sold properties in your area.
Yes, you might get an idea over the Internet, but de facto, you really don’t have enough and accurate information: some houses might have been sold over/under priced or how much it was actually sold for.
A broker has exclusive access to a complex database with these information and it is his job to give you the correct and highest possible value of your property based on this.
In addition, they look at your house from a sales perspective and can pinpoint which facets can add more value to your home. With their experience and expertise, they can persuade a potential buyer to give you the best possible outcome.
They Act as Negotiators
Negotiation is a stressful process to deal with, especially if the house has a strong attachment to the seller. But a broker can approach the situation with an impartial view, and will try to get the possible outcome in your behalf.
Sometimes, they also act as a mediator who prevents any misunderstanding between the buyer and the seller. Sometimes, it is inevitable that emotions will run high during meetings, and it is the broker’s job to speak up during this transaction to smooth things out.
A top rated broker can close any deal because they are objective and always puts their client’s interest first before anything else.
Answer After-Sales Questions
Don’t assume that once you signed on the dotted line, everything is settled. There are still paperworks that needs to be filed and sometimes, there are instances wherein the buyer will have questions even after months of closing.
Are you prepared to answer these questions? A broker can easily address this situation and can event prevent it from happening because they have foresight.
If you have all the time in the world to meet and screen potential buyers, go ahead; but otherwise, enlist a broker because they deal with buyers all time, every day.
They narrow down the most viable potential buyer so that once you meet them, you can talk about more important things.
Screening is an important process because the broker can gauge if the buyer can afford the price or if they really want to acquire the property. The broker “pre-approves” a buyer before you meet them.
At Lhoopa, we always make sure that the buyer is not only capable of paying the property, but also has complete documents and clean credit reputation. Our CRM system helps us track everything from the get-go.
Different Marketing Avenues
Direct sellers have limited marketing channels whereas a broker have countless means to show your property to different potential buyers–professional networks, data bases, internet advertising, online marketing, newspaper advertisements, flyers, and even connections. This ensures that your house is showed off to its best advantage and will have high level of buyer interest.
Because of past experiences, a broker is also an expert in marketing and advertising thus he knows which combination of methods will work for your property.
In some cases, if you have a great broker, he can even match a buyer with a seller depending on their specific needs.
At Lhoopa, we have an access to wide marketing channels and we execute extensive marketing strategies both offline and online for our clients who want to sell their properties.
With the use of technology and brilliant marketing team, we were able to close around P150 million worth of property sales in less than 6 months.
Establish Professional Relationship for Future Deals
Once you’ve partnered with a broker, you now have access to his network and this might be useful to you in the future.
Assuming that you acquire more property and want to liquidate it, having your own broker will make the transaction faster because you already have a professional relationship.
In hindsight, it is important to have a cordial relationship with your broker and to remain in contact with him after your first deal together.
Education and Experience
A well-experienced broker can get you the best price at the shortest time possible. This is due to his extensive knowledge and vast experience.
He knows the ins and outs of the market and possess knowledge and create solutions specific to your case.
He uses his network to ensure that you reach your goals and guides you every step of the way from Day 1 until the very end.
Selling a house means taking calls from interested buyers, answering hard questions, and setting appointments.
If you’re not ready to commit to this, it’s best to rely on a broker because he will ensure that your experience will be as stress-free as possible.
Will you still sell on your own?
While online listings have practically given everyone the authority to sell their homes, in reality, the process is not as simple as anyone would like to believe.When you find yourself in a challenging situation, you’ll realize how easier it would be if you have a professional that you can depend on.