5 Things You Save When You Hire A Real Estate Agent To Sell Your Home
You may think that you're saving a lot of time by not going through the process of looking for and hiring a realtor. However, not having an expert to oversee all of your transactions can actually cost you more time in the long run.
Even if you've sold one of your houses before and have a pretty fair idea of how it’s done, neighborhood trends may have changed drastically since--and only a real estate agent can help you navigate recent market trends you may no longer be familiar with.
Dealing with contracts can also cause setbacks if you fail to take all conditions into account. Make sure you protect yourself by hiring an experienced real estate agent who deals with contracts and conditions on a daily basis.
On average, an agent's commission is 6% of the home’s sale price. This may look like a pretty huge amount to some sellers, which is why some are tempted to eliminate the agent’s commission altogether by doing it the FSBO way.
While it's true that some people turn out to be perfectly capable of selling their homes without the help of an agent, there is a high risk involved when it comes to pricing your home correctly. Only qualified real estate agents can determine the correct listing price of a home by performing a Comparative Market Analysis (CMA), and by making sure that the listing price draws in proper exposure for the house to be sold within an average of three weeks.
If you price a home incorrectly, it may stay on the market for a long time. This will drive down the value of your home, leaving you with no choice but to settle at a selling price that is much lower than you originally set out for.
It goes without saying that it takes a lot of effort and experience to market a home to qualified buyers. Looking for interested buyers is taxing enough; pre-qualifying them can even be an added hassle especially if you have a 9-to-5 job to worry about.
On the other hand, a real estate agent's full time job is to market your home extensively to qualified buyers--most of whom you don’t personally know. An agent does this by posting your home on the Multiple Listing Service (MLS) database, placing ads where it’s necessary, and aggressively following up on potential leads. If you can’t imagine doing all of these by yourself, think twice before deciding to sell your house without an agent.
You never thought real estate agents can save relationships, did you? To be clear though, we're talking about the relationships you have with your potential buyers.
A real estate agent does the tricky business of playing the middleman between you and your buyers. Some interested buyers often have a few things to say that may be offensive to sellers, and it is the job of the real estate agent to create an atmosphere wherein potential buyers are comfortable airing out their concerns about the house. Most of the time, it is difficult to speak directly to the seller without putting the relationship at risk, so it is strongly recommended that you let a professional agent do the talking AND listening on your behalf. This will keep things from getting personal, and will maintain a safe and professional relationship between you and your buyer.
If you're lucky, your house will garner so much interest that you’ll be caught in the middle of multiple offers. While this is what one may call a “happy problem,” it can still take a toll on your schedule, and can sometimes ruin the balance you have in your current life.
This can be quite overwhelming to sellers with full-time jobs, and can often end up being a disorganized mess of negotiations and offers. Sometimes, sellers face too much stress that they end up accepting a certain offer that may not necessarily be the best one, just to get things over with.
If you don't want to risk disrupting the flow of your current life, save yourself from the craziness of home selling by looking for a real estate agent who will help keep your sanity in check.