Quite simply, selling a home requires a willing and able seller and buyer to come together. The task of selling a home, while securing the best terms for the seller, requires specific skills and experience. Here are the top responsibilities of a seller's agent.
Knowledge and Experience
The seller's agent is the number one resource for expert advise on pre-sale preparation, staging, pricing, marketing, and negotiating. The agent should provide recommendations on how to maximize the appeal of the home to the buyers. They must have a solid base of market knowledge for the geographical location of the sale, including in what position the home will stand compared to other comparable listings, what features and feedback are provided by the buyers looking in that area, and how to proceed to secure the best terms for the seller.
Strategic Pricing Recommendations
Pricing is a hot topic for sellers, as most people want to secure the highest net sale price for their investment of property. The seller's agent must be able to provide an accurate CMA (comparable market analysis) to serve as the foundation for setting the price. Intangibles such as visual appeal and floor plan demand should be worked in with the hard data from the CMA to attract offers. Strategic pricing can ensure that the seller is happy with the net price and the number of days on market.
Marketing Resources and Budget
It takes more than a sign in the yard to bring offers. The seller's agent is responsible to provide photography, videography, marketing materials, and advertising outlets to the seller. The agent should produce professional photographs that tell a story and make the home stand out among the competition. The home should be positioned with creative descriptions that forge an interest for buyers to view in person. The seller's agent should take advantage of all opportunities for interest capturing advertising, and they should ensure ample exposure utilizing many different forms of media. The marketing resources and budget will attract the most qualified buyers, and more buyers mean more offers, which creates stronger offers with more urgency.
If the seller's agent has done the job outlined above, they will position the sellers into a strong position for negotiation. Keep in mind that a good buyer's agent is working hard to negotiate the best terms for the buyer. A greater demand on the property means a better outcome for the seller. At this point, the agent should go to bat to defend the list price and work in other favorable terms for the seller.
Selling a home requires more than just experience and expertise to be strategic. An investment of both time and money are required by the seller's agent. To understand the differences in responsibilities between representation of a seller and a buyer read The 4 Top Responsibilities of a Buyer's Agent.