The real estate industry is a mystery to many individuals. TV shows make it look like real estate agents appear to do little for their clients—just open the door to potential listings, make a few phone calls, and collect a commission. But in actuality, there are many varied answers to the question “What does a Realtor do?”

With that in mind, we’ll go through an agent’s primary responsibilities, including what they do during the two distinct home-buying and selling processes. This should help you understand where your money is going and understand why having a real estate agent is the best option for you should you decide to sell or buy real estate for sale in Colorado.

What Realtors Do for Home Sellers

A realtor will first assess the property for a sale. The property pricing may not match the listing price. An expert realtor knows the local real estate market. That means the realtor understands how much higher the seller can go based on comparable sales in the region. If the market is truly bad, your realtor may advise offering the home for the appraised value or even lower.

Many Realtors will also advise the seller to get the home inspected. The benefit of examining a home before selling it is to avoid being shocked by hidden flaws. Hidden issues like broken foundations and rusted plumbing could derail a sale. Fix the issues before trying to sell the property.

A Realtor knows what consumers want in a home. However, most sellers are unaware that a few easy changes can dramatically raise their home’s marketability. Fresh paint, de-cluttering, or ripping up carpet to reveal hardwood floors can all help. A Realtor may also propose significant renovations, such as remodeling a kitchen or bathroom, to increase the home’s value.

Realtors know how to market your property effectively. A Realtor has access to a large network of buyer’s agents through the local real estate association. Your Realtor may include your home in a buyer’s agent caravan.

Realtors can upload free listings to the Multiple Listing Service (MLS), a national database of houses for sale. Other agents and the public can search this database at Realtor.com. Smart realtors know what to include in these listings to entice buyers. The photographs should be clear and appealing, and the description should highlight the home’s best features without being too pushy.

Once buyers are found, the Realtor will schedule showings and hold property viewings. The Realtor, as the primary contact for the home, schedules individual showings. He or she must also prepare the house for each show, which includes removing the current tenants for an hour or so. For open houses, Realtors may even suggest hiring a professional home stager to add finishing touches to the home’s interior. But you can find a realtor who is a real estate expert and have interior designing knowledge.

Once a buyer is found, the Realtor will be the main point of contact for all paperwork. The Realtor will help the seller close the deal.

What Realtors Do for Homebuyers

A buyer’s agent is a Realtor who works primarily with buyers. The buyer’s agent will ask the buyer to get a pre-approval letter from a bank or qualifying mortgage lender during one of their first meetings. The pre-approval letter confirms that the homebuyer has been authorized for a loan with that specific lender. To evaluate the homebuyer’s purchasing power, the lender will need proof of income, bank account statements, savings account information, and credit reports. Pre-approval letters are more trustworthy than pre-qualification letters, which can be printed from a website or obtained over the phone.

Although obtaining a pre-approval letter takes time and work, it has some advantages for the homebuyer. Both the buyer’s and seller’s agents are aware that a homebuyer who has received a pre-approval letter is serious about the purchase. Because there’s a larger potential of a future commission, the letter encourages the buyer’s agent to work harder. The seller’s agent is also more ready to devote more time to a pre-approved homebuyer because the deal is less likely to fall through.

MLS listings are available to anybody, but professional Realtors know how to search the database for the best homes in the buyer’s price range. Realtors are also skilled at deciphering the nuances of listing descriptions. A “newer roof” was most likely installed ten years ago. A fixer-upper is referred to as a “charming” home. A buyer’s agent can cut down the number of listings to a dozen that are a suitable fit for the client. The Realtor can then contact the sellers’ agents to schedule showings.

When it’s time to look at houses, the buyer’s agent offers an important, unbiased view. Homebuyers have a tendency to fall in love with a property because it has a beautiful view or a large kitchen, but often ignore less appealing features such as shoddy plumbing or a leaking roof. The buyer’s agent can assist the homebuyer in seeing the big picture, such as repair costs, neighborhood, local school system, taxes, and so on, rather than being blinded by a few superficial qualities.

The buyer’s agent is the point of contact for all price discussions once the buyer has located a home that he or she likes. The buyer’s agent understands how many other properties in the neighborhood are selling for and will push for the best deal. A title search may also be arranged by the Realtor to ensure that the seller has the legal right to sell the property.

After the buyer and seller sign a purchase agreement, the buyer’s agent will schedule a professional house inspection to ensure that the foundation, plumbing, heating, cooling, and electrical systems are in good working order. Termite, radon and mold checks may also be scheduled. When the inspection results are received, the Realtor will assist the homebuyer in drafting a formal written offer or withdrawing the offer based on the inspections. If the seller accepts the offer, the Realtor will guide the homebuyer through the closing process, including preparing all of the necessary documents.

The Bottomline

A real estate agent is your ally whether you’re buying or selling a home. If you’re looking for real estate for sale in Colorado Springs, Peyton, Falcon, Black Forest, Cimarron Hills, Briargate, Broadmoor, and the rest of El Paso County, you should work with the best Realtor in Colorado.