Working with Sellers
While it’s true that, as a real estate agent, you can work with both buyers and sellers, many real estate professionals choose to focus their practice on either one or the other. In doing so, agents are able to hone their skills in helping either buyers or sellers, hence becoming quite adept in their chosen profession.
Agents who work primarily with people who are selling their homes become marketing experts, with the ultimate goal for each of their clients being the successful sale of their home. Seller’s agents have a lot more responsibilities than simply listing homes for sale, though. The process is in fact quite complex and encompasses a wide variety of tasks and duties, like:
- Having a solid grasp on the local real estate market – Agents who focus on working with sellers obviously must have the skill-set needed to price homes appropriately. This involves conducting market research on a regular basis in order to stay current on local home values.
- Producing a Comparative Market Analysis (CMA) for each seller – The CMA is without a doubt one of the most integral responsibilities of a listing agent. A CMA is a comprehensive examination of similar properties in the same local area that have either been sold very recently or are currently listed for sale. Because even the slightest differences between similar properties can cause changes in property values, seller’s agents must know precisely how to adjust the listing price so as to avoid pricing a home too low (and risk the sellers losing money) or too high (and risk the home not selling at all).
- Staging – Whether this involves simply tidying up the home and highlighting the best parts or hiring a professional staging company, presentation of listed properties is obviously paramount. Listing agents must develop a keen sense of design as well as an instinct about what amenities to show off to potential buyers.
- Marketing – Once the home has been properly staged and the curb appeal is just right, the listing agent must then focus on attracting the right buyers to look at the home. Sellers agents become very skilled marketers, using a variety of different mediums to attract attention. Simply plunking a ‘For Sale’ sign in the front yard is only the basest of steps the listing agent must take in order to sell the home. Real estate marketing involves advertising homes via social media, email newsletters, newspapers, online listing forums, professional real estate networking events, the MLS and much more.
- Negotiating – After all of the above hard work pays off and a home receives an offer from a buyer, the seller’s agent is responsible for negotiating the sale price with the buyer’s agent. This involves taking all offers and counter-offers from the buyer’s agent to the seller for approval, and vice versa.
- Closing – A seller’s agent’s job isn’t finished until the closing paperwork is signed on every dotted line. Because real estate closings can be tedious and overwhelming, it’s important for the listing agent to be available for their clients to ensure that all paperwork is proceeding as planned. A seller’s agent has a lot on their plate in order to be successful and to have satisfied home sellers.