Should I Have My Own Agent When Selling to an Investor?

You have a house that you want to sell and you want to sell it quickly. So, you consider selling it to an investor, one of those cash homebuyer people whose sign you see on the side of the road or ran across online. But do you need your own agent when selling to an investor?

There are countless articles going back and forth on this subject. Yes, have an agent when selling, no, you don't need an agent for selling, risks to selling to an investor, etc.… And the list goes on and on. But, is there really a hard and fast rule when it comes to  selling your property to an investor with or without an agent?

The honest answer is, no. It really comes down to a case-by-case basis and your own personal convictions. There are pros and cons to selling to an investor and you really have to weigh them both to find out what's important for you. There are many positives to selling to real estate investors in that you'll usually get a cash offer, you can sell the home as is, it's a fast closing and there may be flexible payment options as well. There are also negatives such as investors don't need a real estate license to buy your home and there are plenty of scam artists out there willing to leave you high and dry with very little for your home. Also, most investors will buy a home under market value , which may or may not work for your situation. If you're looking to sell quickly, get cash and sell the home as is, selling below market value might be a very easy price to pay.

But again, do you need an agent when selling to an investor?

I've worked with dozens of real estate agents over the years and I've also worked with homeowners one on one directly. Using someone else's buyers agent means that you'll probably have to pay a commission to that agent even if you sell directly to an investor. Some investors have their own agents constantly looking for great deals and bargains out there, so you may have to lower your price and/or pay a real estate agent commission regardless of whether you use an agent yourself. This is a drawback. However, on the flipside, it can be a benefit to selling directly to an investor without their buyers agent. But, do you need an agent to help you facilitate the sometimes confusing legal jargon that goes along with a real estate sale? Honestly, I leave that up to you. There are a lot of legalities when it comes to selling real estate. There's the deed transfer and making sure that everything is done according to the law, verifying that you're getting a fair deal and that the money will transfer. Having your own real estate agent helping you with the deal may make the situation much less confusing and easier, but, you will still have to pay a real estate commission. It's really up to you whether you feel it's worth it or not.

Read More:  4 Things you Need to Expect when Selling with an Agent

Plus, going with a real estate agent means that they may have a larger database of potential buyers than you do. You could market, list and advertise your home all by yourself or you can simply seek out an investor to purchase your property directly.

Here's what I would advise: you're trying to get the very most for the sale of your property and that means not spending the money on a real estate commission on either side of the transaction. But, do your research on the investor. Are they legitimate? Do they have a good reputation in the area? Can you see references of past sales? Can you contact previous sellers to find out how their experience went down? You don't want to get scanned and you want to make sure you get a good deal for your property but, going with a real estate agent to facilitate the deal needs to be a personal decision. Are you willing to spend thousands of dollars just to have someone make sure that you're dotting your 'I's" and crossing your 'T's'?