Buyers and sellers today are more educated on the market and the buying and selling process than ever before. As an agent, this presents a unique opportunity to add even more value when working with clients to purchase or list a property.
In these types of scenarios, leaning on your years of expertise and experience will make all the difference when it comes to showcasing your worth and value in a transaction. Here are a few tips for how agents can help this generation of savvy buyers and sellers.
1. First-hand experience
Even with the advent of buyers educating themselves on the market through online resources, such as Zillow, realtor.com and more, they don’t always have the first-hand experience of visiting properties and the innate knowledge that real estate agents possess.
Many real estate websites establish a market value by utilizing averages for a specific area, but that is not always as accurate as a value established by an agent who knows the nuances of an area or neighborhood.
For instance, values may differ from one block to another based on premium amenities such as a pool, remodeling and more. All of these factors play into the value of the home and the listing price. Showcasing to your client your first-hand experience and how, with your guidance, they’ll be able to purchase or list a property competitively is key.
2. Ability to guide clients and establish accurate value
When establishing a value for a property, it’s important to look at overall averages and to try to find the best apples-to-apples comparison.
All sellers want the value of their home to be as high as possible, and estimates from certain real estate sites do a disservice when they are not entirely accurate or may estimate a higher value for a home than what is realistic.
An experienced agent can guide a seller using the most relevant comps in the area and also provide a strategy for how to properly prepare the home for a sale and get it sold quickly for the best possible price.
3. In-the-trenches knowledge
The knowledge, skills and expertise agents possess and glean from their office meetings, fellow agents and from being “in the trenches” is a valuable resource that buyers and sellers can’t receive from online resources.
Having intimate knowledge about an area and its sales, including multiple-offer situations and motivating factors such as conditions of each property, allows the agent to properly inform their clients and help establish the correct value for the home or a property they hope to purchase.
Online resources have given today’s generation of buyers and sellers an advantage when it comes to access to news and information on the market and current listings. However, nothing can replace the expertise and knowledge of an experienced agent who can give proper evaluation and guidance to buyers and sellers.
From providing an accurate value for a home to sharing insights and information from fellow agents in the field, brokers today have a distinct opportunity to showcase their worth in new ways in this competitive and savvy market.
David Parnes is a director at The Agency in Los Angeles. Connect with him on Instagram. James Harris is a director at The Agency in Los Angeles. Connect with him on Instagram.