Well, let’s try to put that question into perspective. You’re about to take part in one of the largest financial transactions of your lifetime, and you want to go through that alone? If so, you’re braver than me. Selling your apartment is not a DIY weekend project. It’s a day and night commitment for the next 60-180 days of your life.
Knowing the Market
PC: The Real Deal
With a trusted broker by your side, you’ll have an informative overview of the real estate market, not only in New York City but more specifically within your building as well. This information can help set your expectations for your pending sale.
Important information like average days on market and price per square foot allow you to list your apartment with confidence. The days on market will help you devise the appropriate plan for your specific listing. Understanding that the average days on market is 95 days, and not 45, is extremely important. Accurate and timely information is crucial to successfully navigating the selling process.
The Power of Advertising
One of the biggest expense with any real estate listing is advertising. Real estate brokerages will advertise your apartment for sale online, run ads in traditional newspapers, have open houses, and a whole host of other methods.
Yes, individual sellers can list their apartment for sale themselves, but a licensed realtor is going to know the most effective methods for how to sell your apartment.
The other key component is word of mouth. Knowing that people are in the market or are looking for a particular apartment helps to move apartments faster. A realtor can bring in qualified, prospective buyers to your apartment.
Trying to do that on your own, without any experience, can be very daunting. It can also end up costing you thousands of dollars either in a lower sales price (due to lower foot traffic/demand) or monthly carrying costs (your mortgage, building fees, utilities, etc.).
PC: The Stocks
While it may seem fairly practical to list your apartment for sale on your own, how do you handle the paperwork? It’s a lot to manage. The legal disclosures are always an important step, and filling out a form incorrectly could have disastrous consequences down the road.
Without properly disclosing any issues associated with your apartment, you could open yourself up to financial liability months or years down the road. Realtors are meant to serve as your guide in this area. There is nothing worse than getting to closing, and then realizing there’s an issue with the paperwork.
Without a realtor on your side, it can be hard to put the right foot forward when meeting with prospective buyers. A bad or awkward interaction with a prospective buyer can ruin your chances of making a sale.
That unfortunate interaction can taint not only you but your apartment as well. A realtor is not just there to make a commission. A realtor is there to maximize your return on the sale of your apartment. Your realtor is your licensed representative to facilitate the sale of your apartment.
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