Reasons to Sell Your Home With a REALTOR® in Today’s Hot Market
May 12, 2021
Are you planning on selling your home soon? If the answer is yes, you may be wondering if you even need a REALTOR® in today’s extreme seller’s market. After all, buyer demand is sky-high and homes are selling like proverbial hotcakes. Should you take a chance, throw some photos up online, and see what comes of it?
Let’s ease up on the throttle for just a minute.
While it is possible to sell without a REALTOR®, whether or not it’s a good idea is a whole different story. Here are four reasons you should sell your home with a REALTOR®, even in today’s market.
1. REALTORS® get maximum exposure for your home
Getting your listing in front of as many buyers as possible is key to selling your home. When sellers receive multiple offers, it’s often due to the exposure a REALTOR® can provide through the MLS® system and their brokerage website.
Purplebricks listings, for example, get exposure on REALTOR.ca (where the public can access MLS® listings) and Purplebricks.ca, two of the top real estate websites in Canada that get tens of thousands of views each day.
“In seller’s markets like we’re experiencing, if you’re not generating enough interest or multiple offers, you’re probably leaving money on the table,” says Randall Weese, Purplebricks’ Broker of Record. “You would never be able to define how much.”
When you forgo a REALTOR®, you could sell – and you could even sell quickly. But instead of thousands of interested buyers perusing your listing, you’re more likely to reach a few hundred folks on your social networks (most of whom are probably not actively looking to buy a home), besides generating a bit of drive-by traffic and a handful of neighbour referrals.
If you’re hoping to reach buyers willing to compete with one another for your home, the odds don’t look great when you go it alone.
2. REALTORS® get the price right
Another key to selling your home is ensuring the property is priced correctly for current market conditions.
Although there is a lot more information available to the public on what homes are selling for these days, important details may still be missing for those who aren’t REALTORS®, like:
- Homes that didn’t sell for certain prices and the reasons why
- Insights into why some properties did sell for more than others
- Current information on what homes were listed for compared to what they actually sold for
Think of selling your home as a concert: the public can see the spectacular performance, but REALTORS® have backstage passes.
They’re in many homes each year, which fine-tunes their ability to pinpoint prices and best strategies. They know what’s currently on the market, what has sold, what’s not selling, and how prices are trending at any given time.
In short, getting the best price for your home depends on having more than a surface-level understanding of the market, which should be music to your ears!
3. REALTORS® offer smooth sailing
REALTORS® are professionals in their field, which means they bring a wealth of specialized training and knowledge to each transaction they’re a part of. They live and breathe homes, and it’s their job to keep things moving smoothly, even if snags come up in the selling process.
“I’ve been in this industry 15 years and I often see that things don’t always go as planned,” says Weese. “People might underestimate how many curveballs they might encounter throughout the sale.”
Selling can also be quite emotional – especially in a market like this, when excitement is high and disappointments can be crushing. A REALTOR® is a good buffer to keep things more transactional and help you see the bigger picture, even when things don’t go as planned. They’ll help you avoid the risk of clouded judgement and keep the wheels in motion.
They’re also there for you in those chest-gripping moments when you may feel overwhelmed or have a burning question outside regular business hours. Unlike real estate lawyers (the go-to resource for sellers without agents), REALTORS® typically keep more flexible hours and are ready to go to work when the offers come in!
And that’s not to mention their expertise with paperwork, negotiations and steering clear of trouble spots like inclusions and disclosures about your home. Which leads us to...
4. The paperwork (enough said)
Selling your home isn’t like selling a used car online- a piece of paper saying “sold as is” just won’t cut it.
“There’s formal paperwork, and mistakes in that paperwork or in timelines could cost you significantly down the road,” says Weese. “Either in terms of it not being binding or not being filled out properly, you could find yourself in a legal situation.”
Of course, humans will always be human, so REALTORS® come prepared with professional insurance that includes Errors and Omissions protection. If a mistake gets through on your listing or in your paperwork, this insurance would protect you from any resulting lawsuits - no small matter when your home is on the line!
As you can see, using a REALTOR® to sell your home has countless advantages. Moreover, any benefits of not using one are overshadowed by some pretty costly risks.
If you’re planning on selling your home, Purplebricks can help. You’ll work with our team of experienced, local REALTORS®, receive the very best exposure for your property, and save thousands in commission. Plus, when you buy your next home with a Purplebricks agent, you’ll receive $2,000 cash back* - it’s a little gift from us to make buying a property even better. Call 1-855-999-9740 to get started.