You can save thousands of dollars by choosing to sell your house without an RE agent, but is it worth it? Why do you need a real estate agent when selling your home? If you have never sold a property before, chances are that this question is on your mind.
Of course, real estate agents’ commission involves a large sum of money, and you may find it tempting to fly solo to save that money. However, this call may not be suitable for all sellers. So, you need to rethink your decision. Given below are a few reasons why you should work with a professional RE Agent to get your home sold.
- The disinterest of Buyers’ agents
If you don’t have a professional on your side, the buyer’s real estate agent may not encourage their client to see your property since the pro knows you are not working with an agent. The agent may talk their client out of making an offer explaining that the deal involves a lot of risks as no professional is representing the seller.
Often, buyers’ agents behave like this because they fear that they won’t get the agreed amount of commission from the seller due to the absence of an agent on seller’s side. So, as a first-time seller, it is better to hire a professional to get as many offers as possible.
- Emotional Hurdles
The process of selling or buying a property can involve emotions at times. In business, decisions shouldn’t be made based on emotions. This is true even if real estate is not your business and you have an inherited house to sell. After all, you want the maximum price for your property and this is possible only if you don’t make costly mistakes in the process.
Having an experienced agent on your side can help you control your emotional reactions so you won’t make stupid mistakes like accepting an offer that is too low or pricing your house too high.
While you may be emotional even when you have an RE agent with you, it will be easier for you to digest the criticism that comes from the buyer’s agent.
- Busy lifestyle
If you have a busy lifestyle, it may not be possible for you to get back home to show your property to potential buyers. You may be in a business meeting that you can’t postpone, or you may not have enough energy on weekends, if you have a job, to show your house to interested parties.
In addition, you may not be a marketing expert. If this sounds like you, your solution is to hire a real estate agent who can show your property anytime, even when you are not home, as it’s their full-time job.
- Marketing Limitations
You can choose to list your property on the leading real estate marketplaces, such as Redfin, Zillow and MLS. But do you think it will be enough to get the word out about your home?
You can use a lot of means to attract potential buyers, but that may not get you as many good offers as a real estate agent can get for you. On the other hand, if you work with a good agent, you can benefit from their large pool of networks as they have links with other agents, potential clients and big real estate agencies.
If you can wait for months for a good offer and you are willing to settle on a relatively low price for your house, you can go alone. But if you want to get the best deal, hiring a real estate agent to work for you is a stroke of genius.
- Needless showings
You want to show your property to someone who is qualified and has a genuine interest in your property, not just a curious daydreamer. Looking for good sellers involves a lot of work, and you may not have enough spare time to show your house 10 times each day. So, you only want serious buyers to see your home.
Realtors, on the other hand, can determine if a buyer is serious, motivated and qualified to see your house. They ask a bunch of important questions to separate good buyers from those who are just curious to find out more about a property that is on the market for sale.
Some buyers may not feel good while touring a property in the presence of the seller, and they may rush through the property without remembering much a while later. So, having a realtor show them your property is a better idea as it is likely to make potential buyers feel more comfortable.
- Negotiating the sale
You may have some sales experience, but you may not be good at negotiating real estate. The buyer’s agent will have much better negotiation skills so they are likely to beat you in the real estate negotiation process. As a result, you could end up getting your house sold for a lower price if you do it yourself.
Experienced agents have the advantage of having sold tons of properties. They know the game and can notice when a buyer is disingenuous or nervous, but you may not be able to read these signs.
With little or no experience under your belt, you may be emotional or irrational during the negotiations, which may result in poor decisions on your part.
Moreover, if you go solo, you may not know the market or conditions. By contrast, agents do. They know which terms they should negotiate for.
- The Flaws in your House
Do you know what sets your house apart from other houses in the neighborhood? Do you know the things that can help you present your house the best way possible to the potential buyers? If your answer is no, you need a real estate agent’s help.
An agent will let you know which changes you need to make to your home to attract most buyers for best offers. They will point out flaws that need to be fixed before your house is “show-ready”.
To make sure your house has great curb appeal, the realtor may recommend that you hire a good designer or a deep cleaner.
- Legal Matters
Home sales involve plenty of paperwork, which needs to be taken care of by an expert. Your duty, as a seller, is to disclose all the facts that may have an impact on the desirability or value of your house. You may be held liable for a breach of contract, negligence or fraud even if it was just a mistake on your part.
On the other hand, real estate agents are familiar with disclosure laws, and they will take care of all the legal matters associated with the real estate. They will keep you out of trouble throughout the process.
The Takeaway
Without any doubt, selling a property will be one of the biggest financial decisions of your life. So, making this decision with the assistance of an expert real estate agent is always recommended. The agent will help you negotiate a better deal saving you a lot of time and hassle while guiding you around the legal pitfalls.