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Advantages of Hiring a Real Estate Agent to Sell your Condo

 

Many home sellers would think that skipping the agent and going DIY will save them the few thousand dollars in fees. However, selling real estate properties is time-consuming, complex and oftentimes a long-drawn-out process. To sell your condo fast and for the best price, you will need the expertise of the real estate agents, most specifically, real estate agents who specialise in condos.

Here are the benefits of getting an agent to sell your condo;

Optimal Pricing

Most sellers will price their homes based on its acquisition value plus any improvement costs. Although real estate professionals might consider its acquisition value when determining the sale price, their real basis of pricing properties are the current market trends, property market value and how many similar properties are in the market and their average price. If you don’t want to lower your asking price, a good real estate agent can advise you on how to increase its market value.

Increase the Market Value

Seasoned real estate agents have the inside knowledge of what’s selling and the industry know-how of how to increase the price of a property. They can recommend the right fixes and renovations that will result in a higher market value. Great agents would know the right staging approach, which home features to highlight and which ones to downplay. They know the perfect marketing strategy that will attract the right buyers and not waste time on window shoppers.

Market Reach

Finding the right buyer is the crucial part of selling your home. Home sellers who forego the services of an agent will most likely take few pictures of the house, put up ads on their social media accounts, maybe buy a spot on the paper, and ask their network to help them advertise. You will get a lot of curious enquiries, but not probably find ‘the’ buyer. Professional realtors have a wide network of contacts and industry friends that include buyers, sellers and agents who know buyers and sellers. They also have access to the industry’s sophisticated marketing network that will connect the right homes to the right buyers.

Great Negotiating Skills

The average sold price of FSBO, for sale by owner, transactions are less compared to those similar homes handled by real estate agents. Aside from increasing the asking price through optimal pricing and beneficial improvements, agents are also great at negotiating. They know the value of your property and know the demand for it, thus, will handle the negotiations confidently. So, it’s not worth saving the agent’s fee when you stand the risk of losing more from the sale price.  Not to mention the value of your time.

Legal Documentation Assistance

Aside from dealing with the buyers, staging and showing the condo, you will also have to deal with tons of documentation that come with property sales. These documents are required to make the transaction legal and binding. While the forms and documents are publicly available, not everyone knows where to get them, which ones are needed and how to fill them up. Selling condos are also made more intricate due to its complicated ownership and voluminous documentation. Save yourself from headaches, legal trouble and possible fines, just get an expert real estate agent to deal with it.



 

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Toronto Real Estate Board - IDX Last Updated: 8/18/2018 1:28:50 PM