By Katie Bates
Whether you’re looking at buying a home or selling your home, having a knowledgeable representative on your side can make all the difference. With historically low inventory, and buyer demand on the rise, our current local market is competitive and fast paced.
As a seller, you may have heard about the “hot” real estate market, so what does this mean for you? First and foremost, your agent is your specialist, monitoring the process for you. The required paperwork alone can be incredibly overwhelming. You may personally only buy or sell a home once or twice, but agents review and complete these forms time and time again.
Another factor, determining a sales price, can be tricky. You might think your property looks better than the neighbors house that sold a few weeks ago, or maybe you don’t know what other properties have been selling for at all. Realtors will use your local neighborhood market analyzing the price, terms, and conditions of comparable and competing properties. This information allows them to formulate numbers that are realistic and competitive. They also can recommend repairs or cosmetic updates that may help with your marketability.
Speaking of marketability, a Realtor handles your marketing based on which medium, format, and frequency will work best for your property. From scheduling professional photography, to determining where to advertise, your agent can custom create something just for you. As a seller in this current market with that “must have” property, you will most likely be inundated with showing requests the first few days. Your agent fields those inquiries, coordinates scheduling of showings, answers questions, complies multiple offers, and helps you weigh out your responses. We continue to help you navigate through appraisals, inspections, and financing- there are multiple hurdles to overcome before closing.
As a buyer, just one day is all it takes to miss out on the house of your dreams in this market. Our local low inventory makes the buyer competition fierce. You will probably be up against multiple offers, so your first impression can be important. Your Realtor has access to alerts in the Multiple Listing Service (MLS) so you get almost real time updates when a property hits the system. We can set search parameters based on your preferences to target exactly what you’re looking for. Agents will again analyze the local neighborhood market for price, terms, and conditions of comparable and competing properties. This way, when you fall in love, you can put together a competitive offer that stands out against the others. And here again, your agent will continue to guide you through appraisal, inspections, and financing to get you to the closing table.
Communication is key! Your agent represents your and your property. If you’re buying or selling, find an agent that has knowledge of your specific neighborhood market and communicates effectively with you and with the other agents. This could make all the difference in selling your current home or securing your next home.
Katie Bates is a Realtor with Rose & Womble Realty. Contact Katie at 757-681-1755 or firstname.lastname@example.org.