Realtors, also known as real estate agents, typically follow a set of working patterns when selling real estate properties. These patterns can vary based on the market conditions, the specific property, and the individual real estate agencies, but generally include the following steps:
Realtors begin by conducting research on the local real estate market to understand current trends, property values, and demand/supply dynamics. They analyze comparable properties (comps) to determine a competitive listing price for the property they're selling. Realtors advise sellers on how to present their property in the best possible light. This might include staging advice, decluttering, repairs, and any necessary improvements that could enhance the property's appeal to potential buyers. When an interested buyer comes forward, the realtor acts as an intermediary in negotiating the terms of the sale. This includes price negotiations, contingencies (such as inspection and financing), and other terms of the contract. When an interested buyer comes forward, the realtor acts as an intermediary in negotiating the terms of the sale. This includes price negotiations, contingencies (such as inspection and financing), and other terms of the contract. During this stage, the buyer typically conducts inspections of the property and may request repairs or concessions based on the inspection results. The realtor facilitates communication between the buyer and seller during this process.
Even after the sale is complete, a realtor may provide assistance with any post-closing matters that arise, such as addressing potential issues that were discovered after the sale or providing referrals for service providers in the new area (if the buyer is relocating). It's important to note that the real estate market can be dynamic, and the specifics of the working patterns might vary based on the location, the property type, and the preferences of the realtor and their clients.