Are you considering selling your home in PEI but are unsure whether to go alone or enlist a realtor’s help? You’re not alone. Many homeowners struggle with the same decision.
With the island currently enjoying a seller’s market, you might question if you really need a realtor at your side to make a sale on your home. But the truth is that real estate agents don’t just find a buyer for your home. They find the right buyer. Although you may not have to pay a real estate agent’s commission when you sell your house yourself, that doesn’t necessarily mean you’re saving money.
Without an insider’s insight into the PEI market, you may fail to achieve the sale price your home is actually worth. This can end up being a much greater loss. Thanks to our expansive knowledge on local real estate, our realtors have the potential to save you money rather than cost you money.
1. REALTORS KNOW WHAT REPAIRS ARE NECESSARY
One of the main advantages of hiring a real estate agent is that they’ll be able to advise you on any repairs needed to your property before you put it on the market. As they walk you through your home, your agent will point out flaws you may not have noticed because you’re so used to seeing them daily. To attract buyers and get the best offers on your home, taking care of these repairs is essential.
Your real estate agent can also prevent you from overspending on repairs and upgrades by determining what is and isn’t necessary.When you hire a real estate agent, they’ll also have a list of dependable PEI contractors and DIY professionals they can contact to arrange your repairs and make sure you’re getting the best price.
2. REALTORS KNOW THE AREA
When putting your home on the market, it’s essential to have a clear idea of the actual value of your property. Being familiar with PEI’s real estate market is a big part of this.
A real estate agent will have this in-depth knowledge. They’ll carry out what is known as a Comparative Market Analysis (CMA). This means they’ll be able to compare the features of your home, such as its size, location, and number of bedrooms, against similar ones in your area. When you know the standard-asking price of homes similar to yours, you eliminate the risk of putting yours on the market for less than it’s actually worth.
3. REALTORS HAVE ACCESS TO AN EXTENSIVE NETWORK OF POTENTIAL BUYERS
All real estate agents have access to an extensive network of contacts that will help find a suitable buyer for your home. With many people relocating to Prince Edward Island from all over the world, your real estate agent can get your property noticed by a much larger pool.
Even if you have a large personal or professional network, it will be nothing compared to the number of clients and other agents your realtor will have access to. Realtors will have access to many buyers interested in purchasing a PEI property and will be sure to tell them all about yours.
4. REALTORS HELP YOU GET A BETTER PRICE FOR YOUR PROPERTY
Research shows that homeowners who try to sell their homes alone don’t make a sale as fast or for as much money. On average, homes listed with an agent sell for a higher price, $58,000 higher.
A real estate agent can help you receive a better price on your home because they’re experts on PEI’s market and current sales data, which are both very important. Although it’s possible to get sales data from real estate websites, it’s less reliable than the data that real estate agents can access. Website data can backfire if it encourages you to put your home on the market for more or less than it’s worth in the market.
5. REALTORS ARE USED TO NEGOTIATING (and are good at it too!)
Being a good negotiator is one of the most important parts of being a good realtor. With tried-and-trusted techniques, realtors know what works and doesn’t work when negotiating on a property.
With a real estate agent, you have someone to take care of all the back-and-forth negotiations. They’ll also effectively handle negotiations when more than one buyer is interested in your property. While you technically only need one buyer for your property, having multiple interested parties often leads to a bidding war and a higher final sales price. As they have no emotional stake in the overall outcome, realtors have nothing to cloud their judgement during this process.
6. REALTORS TAKE CARE OF ANNOYING PAPERWORK
Selling your home comes with a lot of time-consuming paperwork. And each different form and document comes with signatures, records, and multiple copies.
Dealing with this paperwork can soon start stealing valuable time out of your day. A real estate agent can take this burden off your shoulders. They’ll help you track the paperwork and ensure everything is signed and completed on time.
6. REALTORS KNOW THE LEGAL RULES & REGULATIONS
Many legal rules and regulations are involved with selling your home. Without a background in real estate, understanding legal requirements can be challenging. If you don’t have the time to learn these rules for yourself, hiring someone who already knows them is a good idea.
Whether it’s contract law, disclosure law, or property tax – your PEI realtor will help ensure your processes are all above board, eliminating the chances of a possible problem. From taking care of the paperwork and negotiating the best deals to helping you access a broader range of potential buyers – there are many advantages of working with a real estate agent when selling your home.
DO YOU NEED A PEI REALTOR TO HELP YOU SELL YOUR HOME?
If you’re looking for a reliable and professional realtor to help sell your home, our team would love to help. At Century21 Northumberland Realty, we offer our clients an unsurpassed standard of reliability and professionalism. With a team of agents fluent in a total of nine languages, we work with a diverse range of clients, and we’d love to work with you, too!
While we do our best to ensure that information contained on this website is correct, much of this article is based on conjecture and should not be used to base financial decisions upon. Always consult with an appropriate professional before making financial decisions