Chicago Home Hunter Chicago's premier home finding service for buyers and sellers
Why Use A Realtor?
You have probably heard people say the main reason why you should use a Realtor is because the weight of your real estate investment is comparable to your need to hire an attorney for legal advice or an accountant for financial advice.
My reasons are simpler than that: Personalities and Market Knowledge.
Simply viewing this website shows you are in the top percentage of Buyers and Sellers because you are seeking to educate yourself. However, the two issues above can make the difference between closing a home with everyone's needs being met or having a contract unexpectedly fall apart and looking back with strong regrets. Here's why:
Personalities: Many times, the most difficult aspect of home buying and selling is the emotional aspect. There is often tension, prompted in part because both Buyer and Seller have a huge financial stake in their investment and are fearful of the other side getting the better part of the deal.
Sellers naturally have a personal attachment to the property, often having spent many memorable years there. They view the home with pride in how it is now, while a Buyer often sees how they can improve upon it.
A Buyer may have gone through dozens of houses before finding the perfect one. They are mentally placing their furniture and visualizing their own touches, excited at the prospect of calling it home.
Combined, the two sides often have difficulty setting aside emotions in order to see this home as the business transaction that it really is.
A professional Realtor can look beyond the emotions. Trained in negotiating and adept at making sure their client's desires and concerns are addressed at all stages of the contract, the Realtor is an important link in the process. As the weight of decision after decision continue throughout the process, a Realtor's experience and ability to anticipate any potential hurdles helps to insure the transaction goes to the closing table on time and with no unpleasant surprises.
Market Knowledge: As a Buyer, educate yourself by reading articles and visiting websites to get as much information as you can. A professional Realtor can guide you in selecting the neighborhoods which best fit your family's needs and are appreciating in value.
As you look at homes together, they can point out the hidden assets or defects, which may positively or negatively affect the value of a home. (For example special assessment, mold, and other area related problems. As well as positive points like great school district, a nearby park, etc.) A good Realtor will also be knowledgeable regarding which local builders have a track record for building quality into their homes. They have an educated eye for spotting potential problems that could turn a dream home into a nightmare.
The Seller:
The home Seller is often the ones who perceives that a Realtor is an expensive "extra." However, they stand to lose the most by opting to go it alone in a real estate transaction... especially dealing with first time buyers or buyers who are not familiar with the locale. Things are different now. In years past, a home in Chicago could sell with a simple sign in the yard. Selling a home in today's market requires street smarts and teamwork.
A professional Realtor is experienced in analyzing your home's location and condition relative to the prevailing market. Because they know the area, Realtors can asses your specific home in light of current competition in order to price it strategically and promote it confidently.
Your home represents a huge investment of time and money. In any selling situation, the home Buyer's interest will depend upon their perceived value of the property.
Professional Realtors are aware of highly desirable home features as well as the "deal-killers" in their market. They will help you emphasize the most advantageous ones while minimizing those, which might hinder a sale. If there are properties in need of repair, the professional Realtor can help you find suitable and professional solution. They will let you know if you should spend the money to make the fix or if you should discount the property.
A Realtor's ability to market your home to the widest variety of potential Buyers gives you the best chances of reaching that perfect Buyer quickly. As in any business transaction, time is money. In real estate, the rule of thumb is that the longer your house stays on the market, the lower the final selling price. A Buyer will perceive that something must be wrong with a home, if it has been on the market for more than a month or so, and their offer price will reflect this perception.
Aside from these issues, there are the "hassle factors" involved in selling a home on your own such as: being available to show your home at a Buyer's convenience, knowing which terms will be to your best advantage in a contract and implementing those terms in a timely manner are just a few. Hiring a professional Realtor to represent your best interests will not only protect your wallet...it may just save your sanity!
By utilizing the services of a Realtor, Buyers gain confidence that their new home was a wise decision. Sellers can rest easier knowing they have greatly increased their chances of selling their home for the most advantageous terms in the shortest possible time.
