Buying a new home can be an exciting adventure. At the same time, so can selling your current house. Each is about transitioning to the next part of your life and starting a new milestone. Whether you’re looking for luxury homes in Greenwich, CT, or putting yours on the market, the journey is complex and can be very stressful.
Buying or selling a home on your own is certainly achievable and can be enticing for some, mainly to save on commission fees. However, unless you are a Realtor or knowledgeable about the housing market, your lack of experience and expertise will likely cause mistakes that can cost you money and prevent you from finding the right house or completing your sale successfully. Thus, teaming up with a qualified Realtor is your best bet.
Advantages of working with a Realtor
Buying or selling a home is a significant undertaking with many steps and small details that can make a big difference in the end result. Hiring a Realtor has many benefits, as you will have their expertise and experience on your side.
It’s not often that a buyer offers the asking price and the seller simply agrees. There will generally be negotiations on the price and perhaps on repairs or remodels and who should pay for them. An expert Realtor has experience in brokering a deal and can represent your interests far more effectively than you can.
If you hire a member of the National Association of Realtors, you will be represented by an individual who is bound to a code of ethics and whom you can trust to represent you fairly.
Knowledge of pricing
It’s important for sellers to set the right asking price. If you set the price too high, you may drive away potential buyers. On the flip side, if you price it too low, you may lose money in the end. Knowing the market and the customers in the area allows Realtors to price properties realistically and within an acceptable range of their true value. Buyers, too, need to make bids that are realistic but which can save them money.
If you’re about to embark on your buying or selling journey, team up with a top-notch Greenwich Realtor. So, what should you look for in an agent?
General tips for finding a Realtor
You want to choose at least three prospective Realtors to interview. Take care in choosing your candidates. Start with an online search and look at reviews on Google, Yelp, or real estate sites. Don’t just look at star ratings; read several reviews, both positive and negative, to get insightful details on clients’ experiences.
It’s also a good idea to talk to family and close friends who have recently purchased or sold a home. Ask them for recommendations and how their experience went. People you know well can give you solid guidance and advice.
Questions for buyers
If you are looking at luxury homes in Greenwich, CT, with the intent to buy, here are some things you want to ask the Realtors you interview.
How will you locate homes listed in my price range?
Ask about the Realtor's process for seeking out homes that suit your needs and budget. Request specific examples of past clients who were looking for similar homes in the same area with a budget comparable to yours. This will give you a very good idea of whether or not the agent can help you.
What is the current market like, and what challenges are buyers facing?
Markets swing from favoring buyers to favoring sellers, depending upon inventory and demand. You want to make sure the agent you hire knows exactly what your market is like and what obstacles you may face so that they can find viable solutions.
How do you decide what to bid, and how do you negotiate?
Your initial bid will have a big impact on whether your offer is accepted or countered. It’s important to know that your Realtor has vast experience and a strategic method for devising realistic bids that are competitive and realistic. You also want your Realtor to have solid negotiating skills up their sleeve.
When interviewing an agent to help you buy a home, don’t be afraid to ask any questions you may have. A good Realtor is happy to answer them, and anyone who dodges questions should be passed over.
Questions for sellers
Just as for buyers, there are specific questions that those selling their homes should ask their prospective Greenwich, CT, Realtor.
Which improvements or repairs should I make?
Repairs, renovations, upgrades, and improvements can make your home more attractive to prospective buyers and net you a higher selling price. Of course, these changes do cost you time and money, though. A skilled Realtor will know the market well enough to recommend what improvements, if any, you should make. For example, in a market heavily slanted toward sellers, the lack of inventory will help your home sell faster without putting any extra money into renovations.
Can I see an analysis of similar homes in my area?
You want your Realtor to have insightful data on comparable houses that have been listed in your area for the past six months. The analysis should be detailed and show what the houses listed for, what they sold for, and how long they were on the market. A good Realtor uses these tools to help set the price and market your home effectively.
What is my house worth?
Make sure your Realtor has the experience and skill to accurately determine what your house is worth, given its condition and the current trends of the market. Experienced Realtors will also know whether a pre-listing home inspection is worthwhile.
What is your marketing plan?
You want to know how your Realtor plans to market your home to gain traction for your listing. Where will it be listed? Will there be an open house or a virtual tour? What avenues of advertising will they utilize? A good Realtor always has a solid plan in place.
When selling your home, you want to ensure your Realtor is highly qualified and experienced. This will help your home sell more quickly, interest multiple buyers, and get you top-dollar on the sale.
The Greenwich, CT, real estate
scene has many gorgeous luxury homes to its name. If you are hoping to buy or sell in this incredible area, contact Russell and Mark Pruner and Timothy Agro
for expert advice. With more than 70 years of combined experience, they are well-versed in the Greenwich and Fairfield County housing markets and have the experience and expertise to guide you along your journey. Reach out today!*Header photo courtesy of Shutterstock