There is obviously great gain in having a listing agent help with pricing strategy, knowing the current supply and demand of the present market conditions as well as tapping into their marketing plans, but there is so much more to be gained from having qualified representation, particularly after a seller actually accepts an offer. Sometimes, getting the offer agreed upon is the easiest part of the transaction and walking it to the finish line is where the value really becomes apparent.
When sellers have representation, they not only are able to utilize all the state-approved real estate forms but also the guidance from their broker(s) on how to complete their property disclosure statement, protecting themselves from liability and potential lawsuits. In our professional experience, over disclosure is always best. When a seller informs a buyer of a material defect up front, it seems to go over a lot better than when something is discovered during an inspection. By not being fully transparent in the beginning, when a buyer learns of something they often start to question how forthright someone is being. It can start to cast a dark shadow on the property and the transaction. They will often feel the seller isn’t being honest regarding other important aspects of the property and then their guard goes up. Once this downward spiral starts it is sometimes impossible to change the feel and the result is a terminated transaction.
If you have ever compared the real estate purchase and sale agreement utilized by Realtors vs the one available to the general public, you will quickly realize all the safety nets in place to protect both parties. The language regarding dispute resolution alone is worth its weight in gold.
Listing agents will also guide their sellers on inspection findings and requests made by the buyers during the inspection contingency. Some buyers tend to ask for the moon, so knowing which items are important to take care of and which items are beyond what are typical requests, can not only save a seller money in the end but also keep transactions together. Our team values being a part of the entire process when we represent sellers including helping line up trusted providers to help work through the inspection findings. These providers know what the inspector is going to be looking for when he comes back to see if the work was done correctly and they also understand the importance of completing tasks in a workman-like manner.
Statistically, on average, an unrepresented seller sells their home for 7-13% less than those who are listed with a licensed broker. Making an uninformed decision based solely on data and not on actual market conditions, buyer appetite and supply vs demand is a massive disservice to a property owner. In small communities, such as all of Jackson County, we can recall countless times home sales were facilitated between listing brokers and selling brokers simply because they had a pulse on the market and were able to connect the parties. Getting the inside scoop on a property, particularly when inventory levels are as low as we are seeing now, is of considerable value so actively and exclusively working with someone who is “in the know” is vital.
If you are curious what a realistic market value is for your property and considering selling, we would be honored to meet with you. We have a vast amount of experience in selling vacant land, investment properties, single family residences as well as estate properties. No question is too silly or too small not to be answered!
