There’s a reason nearly 90% of sellers use a listing agent: selling a home takes time, knowledge of neighbourhood trends and negotiating skills. So, while eliminating the agent’s commission sounds tempting, try to resist.
The agent’s chief tasks are to help set the right price and then get buyers in the door. Agents have access to the most up-to-date information about recent sales of comparable homes (“comps”) and competing listings in your neighbourhood. On average, agent-assisted sales generate a 15% higher selling price versus a sale by owner. Right now, the market in the Cayman Islands is shifting every day. It’s the agent’s job to keep abreast of those changes.
A good agent will also market your home aggressively. That means recommending staging techniques to make the place look great, maximizing the listing with professional-quality photographs and showing the house to prospective buyers. In addition, your property will be included in the MLS system for all CIREBA (Cayman Islands Real Estate Brokers Association) members. CIREBA monitors their members’ transactions and conduct, and a company may lose their membership for non-compliance or unethical dealing. Most important, the agent will vet potential buyers so you can deal only with serious prospects.
Once you’ve found a buyer, the agent will negotiate counter offers, track the paperwork and generally hand hold through the most nerve-racking part of the process.
Think hard about the time and effort you want to spend, particularly if the process drags on. The average home takes over 12 months to sell.
Now, that you’ve decided to use a listing agent, RE/MAX Cayman Islands offers additional marketing and experience other agencies do not. RE/MAX publishes this magazine 24 times yearly, which is distributed in the Friday edition of the Cayman Compass and to more than 600 companies on all 3 islands. With a presence in over 110 countries and territories, the RE/MAX network’s global footprint is unmatched by any other real estate brand. Nobody in the Cayman Islands sells more real estate than RE/MAX Cayman Islands and our 20 full-time agents average more sales than other agents.
If you would like information about selling your property, give us a call today at 233-3000.