Updated: Nov 12, 2020
Why You Should Consider Working With a Real Estate Agent to Sell Your Home
Across the U.S., there has been a drive for people to take on “do-it-yourself” projects, especially when it comes to work being done around the home. This has been encouraged by the multitude of TV shows that make these jobs look incredibly easy, as well as the hope that people will save some money by doing the work on their own.
While it’s your personal choice whether or not you want to take on these projects, there are some things at your home that you should leave to professionals, and that includes selling your home. This is another thing many people will attempt to do on their own to make as much money as possible. You may wind up being successful, but this isn’t a guarantee. Thus, it’s in your best interest to work with a realtor. Below are some reasons why.
They Know the Market
It’s a real estate agent’s job to buy and sell homes within the community they live. They know when things are hot and when they’ve cooled down. They know if it’s a buyer’s or seller’s market, as well as how to get the most for their client when selling their home. When you sell your home on your own, you can do some research to figure out what other homes like yours are selling for, but this may not give you the full picture.
Working with a real estate agent is the best way to price your home competitively so that you can sell it as quickly as possible and ensure you get the most out of it. They can also give you tips and advice on how to make your home more appealing to potential buyers, which might include making some cosmetic fixes or major renovations. These changes could be just what you need to sell your house for the highest price and come out ahead.
In addition to a realtor knowing the market, they also have experience buying and selling homes. They’ve had to pass exams, gone to training and buy and sell houses on a daily basis. Not only will they be able to help you find the right price for your home, but they’ll also let you know when you need to drop the price because it’s been on the market for too long. They also know about rules and regulations when it comes to selling a home, and they’ll make sure you stay in compliance.
They Have Time
If you have a family and a full-time job, your days are already full. If you’re trying to sell your home on your own, you have to be available and willing to show it whenever potential buyers want to look at it. This might mean in the middle of the day, in the evenings or on weekends.
If you don’t have the time to take off work to show the home, then it’s best to leave this to a realtor. You and your family will have to be out of the home when it’s being shown, but if you are at work and your kids are at school, this doesn’t interfere with your day. Working with a realtor to sell your home can save you a lot of time and effort during the process.
They Have Contract Knowledge
Selling a home can be a complicated process, especially when banks or other lenders are involved. Buyers want to make sure they are getting a good deal for the amount of money they are spending, so they will often create offers and contracts that negotiate aspects of the buying process. Understanding exactly what is expected of you as the seller is necessary.
While you may have some skills when it comes to reading contracts, having a real estate agent in your corner ensures that you know exactly what is going on. They’ll also be able to tell you if the deal is a good one or if you should make a counteroffer. Your real estate agent has a fiduciary obligation to you, so they want to ensure that you are getting the most from the sale of your home. They accomplish this by making sure the contracts and negotiations are beneficial to you.
They Have Negotiating Skills
Not only does a realtor know how to read and understand contracts, but they also know how to negotiate. They have a duty to ensure you are getting the most out of your home, and the buyer’s agent is trying to make sure their client gets a good deal as well. To ensure that both parties are satisfied with the outcome, there needs to be some back and forth between you and the buyer. Unless you happen to be a lawyer, mediator or work for a union, you may not have the negotiating skills necessary to make the deal work. That’s when working with a real estate agent really pays off.
They Have Connections
If you decide you want to sell your home on your own, there are websites that will allow you to post your information, and you also have the option of running ads in the paper. While these can certainly gain people’s attention, if you work with a realtor, you’ll be able to reach a wider audience.
Real estate agents have a lot of connections and the ability to post in various places online and in print. This is the best way to ensure that your home is being seen by potential buyers without spending a lot of money to achieve that goal.
You May Not Make as Much as You Hoped When Selling on Your Own
For many, the reason they decide to sell their home on their own is because they think it will get them out of paying a realtor’s commission. This may not necessarily be true. If the buyer of your home has an agent, they still get their fee, and the seller pays that cost. The only commission you won’t have to pay is to a seller’s agent.
However, just because you get out of paying a commission to a seller’s agent, that doesn’t mean you’ll be getting as much for your home as you had hoped. It has been found that a for-sale-by-owner home often sells for much less than what an agent can sell it for. Thus, if you’re looking for a way to get the most out of the sale of your home, even if you have to pay a commission, it’s a good idea to work with a real estate agent.
In theory, selling a home isn’t complicated, and many people think they can do it on their own. However, when it comes down to the details, knowing the market and finding potential buyers, things get complicated. Working with a real estate agent is the best way to ensure you get the most out of the sale of your home.