March 28th, 2016 1:54 PM by Christine Geraghty
Being a Licensed Real Estate Agent in today’s market means so much more than sticking a sign in the ground and putting a pretty picture online for everyone to see. When you are looking to retain a Real Estate professional, you should find out what services they offer as an agent.
As a professional in the industry, I am big on “doing my homework.” Prior to listing a home for sale, I will first and foremost research. Research… Research…Research!!! A real estate agent should value the home similar to how an appraiser will value the home. It is not so much about what the seller wants, but rather what the market can bear.
Rule #1 – Buyers determine market value! A home is only worth what a buyer is willing to pay so the buyer will determine the market value of your home by what they are spending on the surrounding homes.
Rule #2 – The bank will determine the home’s worth. Even if the buyer wanted to overpay for the home, the bank will only lend what it determines the value to be. So unless you are working with an all cash buyer, you have to play by the bank’s rules.
So what does this mean for you? As your Real Estate Agent it means that I am the professional that will help you to find the balance between the perfect price at which the buyers will be attracted to the home and enticed to make an offer, and where the bank will find the value to be within reason to develop the loan.
Another part of research entails finding out if there are any reasons why a bank would not grant a loan. Open permits, illegal structures on the property, and conversions of non-livable space to livable space all fall into the category of things can hold up the selling process if the buyer is trying to obtain a mortgage. There may be steps necessary to get your home ready for sale that is beyond a fresh coat of paint and a new welcome mat. The good news is, if you are working with the right Real Estate Agent, they should be able to advise you accordingly and may be able to recommend the professionals in the industry that can help expedite the process.
Bottom line is – you are not to take on the job of listing your home by yourself! Hiring a professional in the industry is the best thing that you can do to get you the most money for your house in the shortest amount of time and avoid the headaches and the hassles that come along with the bumps you will encounter along the way.
Not all agents work the same, so I can only speak for myself when I say that I pride myself on my due diligence that I take when preparing a home for sale. If you have any questions about what your home may be worth, I would love the opportunity to sit down and speak with you. As a Licensed Agent of over 10 years, I have a wealth of knowledge to share and would love the opportunity to continue growing my business by doing what I love and working with those who want to work with me.