Some homeowners believe they can save money by selling their home without an agent. They underestimate the magnitude of the effort, time and cost involved and soon discover that they need exceptional negotiating skills, legal knowledge and market experience to sell their home without a professional real estate agent. Here are some arguments that show that using a real estate agent is well worth the price of the commission.
1. Real estate agents have access to extensive listings.
A real estate agent has connections with buyers and contacts who are kept informed of their new listings on the market and agents quickly spread the word about the property they have just listed for sale.
Even if the owner believes they have a large network that will share the listing, it will undoubtedly be a much smaller group of potential buyers. A small group of potential buyers will not have much demand. The homeowner will take longer to sell their home and probably won’t get the amount they want.
A real estate agent has access to multiple listing services (MLSs), especially if they are international listing networks, where there is the potential for millions of buyers to see the home listing. Sellers often cannot list their home on the MLS and/or must pay out of pocket to market it.
2. Agents represent the business of selling a home.
Selling your own home is an emotional process and hiring an agent to represent the homeowner’s interest will keep your personal feelings out of the business of selling the home. With a representative agent, the seller is less likely to make mistakes, such as overpricing, taking offense at low offers or not maximizing his or her negotiating position. The real estate professional will communicate with prospective buyers on behalf of the seller without the anxiety, desperation or lack of cooperation that can arise.
Selling a home always has a degree of emotion, but it will be easier with an agent who represents the seller’s interest and is on the seller’s side. An agent is the catalyst that separates the emotional attachment to the house from the act of doing business.
3. Real estate agents add value
If someone sells a home without an agent, the costs of preparation, capturing photos or video and paying for marketing are on their own. These expenses can add up and become quite expensive.
For most sellers, hiring an agent to take care of these things is worth it to them. A real estate agent will help them prepare the home for prospective buyers, take photos, produce high-quality videos or renderings, and list the home on the Multiple Listing Service (MLS) and listing portals.
Statistics show that, on average, more money is made on a sale with a real estate agent than on a personal sale.
4. A real estate agent knows the legal aspects of selling a property.
The sale of a home is a legal contract, so a seller going it alone will have to negotiate and manage all the paperwork associated with this process. There is a legal process to interact with the buyer, their attorney, the home inspector, the appraiser and the bank. Then there are negotiations and legal procedures to deal with the seller and the financial institutions.
Sellers who are unfamiliar with the legal aspects, terminology and process can run into legal difficulties, if not done correctly.
A real estate agent knows the legal aspects of selling a property and their service on behalf of the seller can keep the seller from ending up with a lawsuit on their back.
5. Being a real estate agent is a full-time job
Many sellers believe they save on the costs of hiring a real estate agent, but they often don’t consider the price they pay in other ways, such as the time they spend and the lack of experience.
If a seller can’t take off work every time a buyer wants to see their home or excuse themselves from commitments to negotiate and file paperwork, their property often stays on the market longer than it should, which can make buyers suspect there is something wrong with the home.
This costs the seller money, as the longer the home is on the market, the less it will generally sell.
A real estate agent will advise the seller on staging, advise on the best selling price for the market, find and qualify potential domestic and foreign buyers, and handle inquiries, viewings and offers.
Realtors know the market, recognize buying trends and understand the legal regulations of the industry.
Advantages of hiring a real estate professional
People who sell without hiring a real estate agent expect to keep more profit from the sale of their home. However, real estate agents have the necessary experience and skills when it comes to pricing, marketing and negotiating. As a result, they may end up making less money on the sale than if they had hired an agent and paid a commission.
It can also take much longer to sell the home yourself, as the seller’s market reach is limited to their budget and restricted to their knowledge of where to market.
Selling a home yourself means you will be taking over their time!
Source: https://blog.listglobally.com/
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