One of the biggest objections a real estate agent can hear while on a listing presentation is why should I hire you? What the consumer, this lead, is really doing is raising their hand and letting you know they do not understand the benefits of hiring an agent. What to do? With so much information readily available online, consumers wonder, and rightfully so, if they should sell their home online, through regular marketing and advertising channels without representation or with a real estate professional.
Here are 6 reasons to explain why a homeowner needs to consider hiring you, a professional real estate agent, to sell their home.
What you don’t know can absolutely hurt you, and it can come back to bite you even worse. A real estate agent’s knowledge is priceless. You don’t need to know everything about selling real estate if you hire a real estate professional who does – and it is your job to remind potential and future clients of this through your marketing efforts.
Henry Ford once said that when you hire people who are smarter than you are, it proves you are smarter than they are. Why not hire the person with the education and experience? We’re all looking for more precious time in our lives, and hiring professionals gives us that time. An Agent knows what the Internet doesn’t tell consumers, and they can provide insight that consumers can’t get online. It’s important that you use these angles to help highlight your value and knowledge that you bring to the table.
Everyone’s time is valuable, but do homeowners truly have time to attempt to play the real estate professionals role? We think not! Here are some questions to consider asking your clients.
- Do you have time to show the home safely, and will you be accessible on a moment’s notice?
- Do you have time to devote to scheduling and managing showing appointments?
- What about feedback? Do you know what questions to ask and the best way to elicit a response?
All of these questions give you the opportunity to prove yourself because you do have the time, the answers, and experience – they don’t.
Here are some more questions you can consider asking prospective clients as a way to position your expertise and contact database!
- Can you furnish expert resources such as architects, contractors, designers, engineers or other experts?
- How should you handle items that are flagged as needing repair or replacement by an inspector?
- Do you have a roster of repair people who will come out on a moment’s notice due to an ongoing relationship?
- Do you understand the difference between making an improvement, not a repair?
You never get a second chance to make up from a bad first impression, and the same thing goes for putting a property up for sale. It’s important to highlight to sellers that the first time they list is the most important. Areas where you can highlight your value include: how to prepare a home for sale, proper pricing techniques based on market data and conditions, and negotiation skills when that first offer comes in so you don’t miss out.
One of the biggest factors that FSBO’s don’t offer is the extensive marketing that an agent can do. When it comes to marketing it’s not just telling a prospective client what to do, but showing how you do it to help highlight the depths you go to.
Consider highlighting some of the following questions if you are in a scenario where they feel they can market the home themselves:
- Do they know who the buyer demographic is for their home and/or neighborhood? How will they reach buyers? Do sellers have access to predictive analytics or know how to strategically promote the listing to other agents in the community and on social media?
- What kind of print media is appropriate for the property, and how will sellers have that created and printed?
A good agent will have the answers to these questions as well as any others related to properly position a property.
5. Negotiation Experience
The sellers received an offer. Now what? How do they respond? What do you look for in that purchase agreement? What terms and conditions could be disadvantageous to the sellers? Do they know how to negotiate to keep the buyer in the game versus walking away? How do they strike a delicate balance between protecting their interests as a seller and working with the buyer toward the goal of putting an agreement together? If you’re in a ‘hot’ market, how do you manage multiple offers?
As a real estate agent, it’s very important to market your negotiation capabilities; this is a skill very necessary in the home buying or selling process and if positioned correctly can show prospects why they need you.
6. Transaction Management
So the home is under contract, what do sellers do next? Do they know who they need to be in contact with? Who is going to be handling the closing? What items should they be following up on? How will they handle challenges like the property not appraising for the contract sales price or things potentially derailing due to home inspection issues? Shaky financing? What about the closing? What is the closing protocol in their market and what are the expectations?
Selling a home without an agent is a setup for disaster. The perceived savings of selling without representation can come back to bite sellers in terms of uninformed decisions and costly mistakes that — in the long run — end up costing sellers more money than if they hired a real estate professional initially. Hiring a real estate agent will protect consumer’s interests, manage the risks, and help justify their homes value in the first place!