Selling property is a complex process. A REALTOR® can help you at every stage, from setting a price to marketing the property to closing the sale.
Setting the Price
The selling process generally begins with a determination of a reasonable asking price. REALTORS® can give you up-to-date information on what is happening in your local marketplace, as well as the price, financing, terms and condition of competing properties. These are key factors in marketing your home and selling it at the best price. Often, your agent can recommend repairs or cosmetic work that will significantly enhance the market value of the property.
The next step is a marketing plan. Marketing exposes your property to the public as well as to other real estate agents through a Multiple Listing Service, other cooperative marketing networks, open houses for agents, and so on. In many markets, a substantial portion of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. The REALTOR® Code of Ethics requires REALTOR® members to use these cooperative relationships when they benefit clients.
An agent will also know when, where and how to advertise — which medium, format and frequency will work best for your home and your market. Though advertising can be valuable, the notion that advertising sells real estate is a misconception. National Association of REALTORS® studies show that 82 percent of real estate sales are the result of agent contacts from previous clients, referrals, friends, family and personal contacts.
When a property is marketed with an agent’s help, you do not have to allow strangers into your home. Agents will generally prescreen and accompany qualified prospects through your property.