The Seattle housing market has been skewed in favor of sellers for a few years now. That’s due to the growing number of people who want to move to the King County area amidst a limited supply of rental units and homes for sale. The demand has caused bidding wars, which have elevated the average price of a house in the area to $771,889 and the median price to $650,000. Given the current state of the market, do sellers really need listing brokers?
What Is a Listing Broker?
Simply put, a listing broker represents the seller and secures the right to put the property on the market, earning commissions in the process. Also known as listing agents, they do extensive marketing campaigns to entice potential buyers while highlighting a property’s strengths. They protect the seller’s interest and maintain the upper hand during negotiations to get the highest price possible.
Why Are They Critical in Homes for Sale?
About 15% of homeowners who sold their property without representation disclosed that they had difficulties in setting the right price. Good listing brokers are well-versed in the local real estate market. Having this knowledge is necessary to determine the best asking price for your home to get it sold as soon as possible. Unlike a novice seller, they’ll also know better than to simply award the property to the highest bidder without proper assessment, preventing issues during the final transactions.
How Do They Affect a Property’s Value?
Even if it’s considered a seller’s market, an excessively high listing price may be unattractive, which can cause the property to go past its offer review date. Potential buyers tend to shift their focus instead on the home’s negative attributes. In contrast, a listing price that is too low may draw lots of attention from buyers but can result in the property being sold for far less than it should. A listing broker can set an appropriate initial asking price, which can dramatically raise the value of the final sale price.
If you have homes for sale and are on the lookout for a seasoned listing broker to provide guidance and assistance throughout the process, turn to real estate agent Eddie Chang of Realogics Sotheby’s International Realty in Kirkland, WA. With his wealth of local market knowledge and devotion to providing unmatched client service, he will help you get the best deal for your home. Call (425) 922-7136 to schedule an appointment, or visit the website for real estate listings on luxury homes for sale and oceanfront property.