Selling Your Home? 7 Reasons To Hire A Real Estate Broker
When it comes to selling a home, the idea of working with a real estate broker faces tough competition from two now common trends: handling the sale on your own or using an online promotional service or platform. However, in the last year, more than 80,000 real estate transactions were completed by brokers in Quebec for a volume of more than $23 billion, according to Centris Quebec. Even with all the disruption in the industry, the services of real estate brokers are still in great demand!
So the question stands:
Is it really necessary to hire a real estate broker? And is it worth the cost?
To help you choose the best option, we decided to address the issue point by point.
What’s a Real Estate Broker Anyway?
A real estate broker is a professional mandated by a buyer to find the home or property that corresponds to his needs or by a seller in order to help him sell his property. Real estate brokers facilitate the purchase or sale of a property through their knowledge of the market, mastery of real estate promotion, negotiation skills and network of contacts such as mortgage brokers, building inspectors, lawyers, and notaries.
To become a real estate broker, one must complete a training program of between 390 and 570 hours, obtain a permit to practice, and complete a number of hours of continuing education each year. A real estate broker therefore often has years or even decades of experience.
But is it worth it to work with a real estate broker?
Working with a real estate broker can help you save time, effort, money, and increase your profits. Let me explain.
The 7 Advantages of Working with a Real Estate Broker
1. A Professional Dedicated to Your Results
Working with a real estate broker means you benefit from the assistance of professional fully dedicated to helping you achieve your goals. Thanks to his training, experience, and understanding of the real estate market, your real estate broker is the best equipped to work in your best interests. He can help you find ways to best showcase your property, recommend services to help increase the perceived value such as home staging and also help you set the selling price.
A professional working day and night to help you achieve your aims – sounds good doesn’t it?
2. Attract Potential Buyers
Real estate brokers have acquired years of skills in the advertising and promotion of property for sale and can take charge of the huge task of attracting potential buyers. Your broker will know how to best describe your property, position it optimally to interest potential buyers, and publish ads or listing in the best online channels of communication to maximize the number of potential buyers.
When you work with a real estate broker, he takes it on as his mission to find the right buyer, at the right price and according to your timeline. On the other hand, if you’re trying to sell your home on your own or through online advertising platform, finding a buyer could take longer than you hoped and force you to invest even more time, effort and money than planned. Imagine yourself without a potential buyer six or even nine months after publishing your ad when you’d hoped to sell in under three months. While your real estate broker can’t guarantee results, he will draw on his experience, resources and those of his agency to make your aims happen. After all, he gets paid when you get results.
In addition, only real estate brokers can list your property on the Centris network, an online platform used by 13,000 real estate brokers in Quebec and searchable by the public when on the market to buy a home.
3. Manage Visits
Do you really want to spend your time showing your house to all potential buyers who show up? Will you be able to quickly understand their buying criteria and draw their attention to those parts of your property that fit what they want? Real estate brokers are trained to do just that.
A real estate broker will take care of everything for you, managing visits, taking time to gather essential information from buyers, such as what they most want in a property and their budget. You can be certain that your potential buyers will be in good hands. Instead of showing people around, you can spend your time on a Game of Thrones marathon or check out the latest Assassin’s Creed edition.
4. Gain Buyer Trust
If you attempt to sell your property on your own, will you be able to gain the trust of potential buyers?
A real estate broker will be courteous with potential buyers and will know how to earn their trust and confidence as they’ll be certain that the sale is being handled by a professional who’s an expert in his field. In order for the real estate transaction to proceed smoothly, it’s essential that trust is present on the side of the vendor, but even moreso on the buyer’s side, as the purchase of a home may be one of the most important investments of his life.
5. Handles Negotiations
Your real estate broker is able to present your property in the best possible light. This can help increase the perceived value and enable the broker to obtain the best possible price.
Real estate brokers are also trained in negotiation and are familiar with the current marketplace conditions. As a result, they work on your behalf to:
- Find buyers ready to offer the best prices
- Advise you on the different possibilities available to you in order for you to obtain the best possible price for your property.
- Avoid the pitfalls of the real estate market
6. Manage All Administration
For every real estate transaction, a large number of legal and administrative documents must be correctly drafted.
Working with a real estate broker will save you time by taking care of drafting all necessary documents like the bill of sale, notarial deeds, promise to purchase, and the certificate of location.
- Your broker takes care of the legal and administrative steps regarding the sale of your property, which can turn out to be very long.
- The process of selling real estate is very long and dealing with it alone can lead to errors or omissions in the documents, which can delay or even cancel the sale.
- Leaving the administrative procedures to a real estate broker will assure you that everything will be done on time, and especially with a lot less stress!
7. Gets Paid When You Get Results
When selling a home, real estate brokers are paid only when they get results. With the commission system, you don’t have to invest money up front to pay your real estate broker with no guarantee of results. Instead, your broker works to sell your home as quickly as possible for the highest price possible and only gets paid a proportion of the sale price when he does