Do you really need a Real Estate Agent? No, you need a great Real Estate Agent!
As a buyer, it’s a no-brainer whether or not to use a Realtor! It’s typically free representation to the buyer as agents are paid by the seller in most situations. Whether it’s new construction or a resale of a property, the commission is already built in to the builder or seller’s budget so buyer’s are not saving any money by going it alone. The risk of no representation almost always has a negative impact financially for all parties.
For sellers, here are things to consider before trying to sell your property on your own. (“For sale by owner”)
1. Realtors may not show For sale by owner properties for many reasons, therefore reducing your buyer pool.
2. Buying and selling can be emotional. Good agents keep the emotions out of the transaction which gets you to the closing table quicker.
3. Sellers typically have jobs or other priorities. Finding a full time Realtor ensures your property is being marketed as much as possible.
4. Agents have access to very large networks including other firms and agents, therefore giving your property high volume exposure.
5. Your agent will weed out unqualified buyers quickly leaving more productive time to communicate with serious buyers.
6. Sales price and negotiations takes skill and experience.
7. You will probably ignore your homes flaws or think they don’t matter. Realtors know what it takes to get your property ready for the current market.
8. Using an agent reduces your exposure to possible legal risks.
The Bottom Line
Buyers and sellers BOTH profit financially when using an agent that represents them and them alone.
It’s a tall task to learn how to sell your house without a realtor—and selling your home will likely be one of the biggest transactions of your life. You can try to do it alone to save money, but hiring an agent has many advantages. Agents can get broader exposure for your property, help you negotiate a better deal, dedicate more time to your sale, and prevent your emotions from sabotaging it. An agent brings expertise, which few FSBO sellers have, to a complex transaction with many potential financial and legal pitfalls. Most transactions in today’s market assisted with an agent will bring more gain and pay for the added firm’s commissions.