Why Choose a Real Estate Agent Over Selling on Your Own?
Over the last few weeks, our clients have asked a common question while dealing with us. The question was: Why should I choose a Real Estate agent over directly selling my house?
Although the clients were satisfied with the answers we gave them during the consultation, I thought it was essential to create a repository of explanations on why choosing a real estate agent is always better. Here are my two cents on the subject:
Even though things look favorable for sellers, you'll still need to meet various thresholds to get a buyer. Therefore, most home sellers prefer using a real estate agent over the for-sale-by-owner (FSBO) option.
So, what are the benefits of hiring a real estate agent rather than selling a home on your own?
1. Superior Negotiation Skills
As a seller, you always want to get the best deal for your house. But the buyer also has a similar objective. This is where the negotiation skills of both parties come into play. Of course, you can handle the task, but hiring someone experienced in this field is usually best.
2. Keeps Emotions Out of Selling Your Home
The emotional connection you have with your home can cloud your judgment. For example, if you’ve stayed in a house for decades, selling it will feel like many years of memories are being taken away. As a result, you may overprice your home because the value will depend on your feelings rather than the actual value. A real estate agent, on the other hand, isn’t driven by emotions. Instead, they use their experience in the market and the current economic environment to determine the value of your property and formulate an appropriate asking price.
3. Agents Have an Extensive Network of Prospects
Although you'll avoid agent fees, selling your house by FSBO may not give your property the exposure you need. It's always essential to have a vast network of potential buyers for you to get the best offers. Otherwise, you'll receive limited offers, and the selling process can take longer.
4. Agents Make Your Home Worth Buying
Real estate agents work to show your home to prospective sellers to get the highest price. It’s crucial, therefore, to ensure that the property is in good shape before listing. Remember, buyers will assess the design and quality of the home before making an offer. Your agent can help you identify areas to improve the home before listing the property by recommending the most important things to focus on in your home improvement project.
Conclusion
Hiring an agent is one of the most important decisions you can make as a seller.
Traversing the unpredictable path of FSBO can be devastating, especially if you're a first-time seller. A real estate agent, however, understands the industry and has a vast network of potential buyers. Hence, they'll use their skills, knowledge, and resources to help streamline the selling process. As a result, you're likely to get a serious buyer within a few days and sell your home at the best price.
I hope this helps the investors understand why real estate agents are so important while selling your house. I would love to keep the conversation going, so if you have more to add, please leave your comments.
All true. It's probably better suited for a blog post.
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#5 Medium-Term Rentals Contributor
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Time is also a huge factor. I have zero desire to spend time talking to buyers and realtors, taking photos, and doing showings. The time saved is worth every penny for me.
Quote from @Nathan Gesner:
All true. It's probably better suited for a blog post.
Thank you, @Nathan Gesner. I did create a lengthier version of this in a blog post. Since I am new to BG, I am still figuring what is the way to engage people in a conversation; a blog post or a forum.
Quote from @Nicole Heasley Beitenman:
Time is also a huge factor. I have zero desire to spend time talking to buyers and realtors, taking photos, and doing showings. The time saved is worth every penny for me.
Yes! That is one of the most important factors! Time is Money, after all! Thank you for your comment, @Nicole Heasley Beitenman!
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With commission as low as 1%-2.5%, I prefer to use a realtor.
The market over the last couple of years has made it difficult for realtors because anyone could slap a number on a house and have it sold with multiple offers in 3 hours. As a result, sellers have had it pretty easy. I completely understand wanting to go the FSBO route for 2020 and 2021. Now things are getting more competitive. Sellers are going to have to use every advantage to impress the more limited pool of buyers. No one knows this more than the local experts (i.e. realtors)!