Do You Need A Real Estate Agent?
The standard approach to selling a home is to hire a real estate agent. But is it really necessary? Can you do it on your own? Instead of paying a commission, some would rather try to sell their on their own or choose another alternative.
Reasons For Hiring
Selling it yourself may seem like a good way to save money, but consider the time, money, and effort towards advertising and showing the house. Could you get as much for your house as a realtor could?
Real estate agents do bring a lot to the table. Agencies spend a lot of money on advertising plans and have their finger on the pulse. They’re also very helpful in negotiations. Selling a home can be a very arduous process if you don’t know what you’re doing. Real estate agents are experts at selling homes. That’s their job.
According to research done by the National Association of Realtors, more than 80% of all sellers and buyers go through a real estate agent. Anyone who doesn’t hire a realtor misses out on a lot of potential buyers.
Exposure is probably the number one reason to hire an agent. They all use the Multiple Listing Service (MLS) for listing properties and seeing what’s for sale. Having your property listed here is almost a must if you are serious about selling your home in a timely manner.
Real estate agents also set up a sign in your yard, create brochures, hold open houses, post advertisements, and market the house in various other ways. They’ll answer any questions you might have and guide you throughout the process. That alone is incredibly valuable because you already have a lot on your plate, such as work and preparing to move.
Realtors show the house to potential buyers and answer all their questions. You won’t have to worry about leaving a stranger alone while showing the home.
A perhaps overlooked benefit is the referrals they’ll provide. They have relationships with interior designers, painters, and a host of various services that may play a part in selling your home. They can tell you who to hire.
They handle all communication with buyers, agents, assist with negotiations, present Offers To Purchase, and help you figure out what to do. Ultimately, agents take the burden off your shoulders so you can focus on other priorities.
Selling The Home Yourself
This makes the most sense if the market is on the upswing and houses in the neighborhood are in demand. You’ll still need to hire an attorney who has some experience dealing with real estate transactions. He or she will serve as a liaison for completing the deal.
If you decide to sell on your own, then utilize word of mouth to the fullest extent. Tell all your neighbors and as many people in the area as possible. Even if they aren’t interested, they may know someone who is. However, the odds aren’t very good that this will result in a sale. Advertising online or in the newspaper will likely be a more effective marketing strategy. The former is especially important since so many people search for homes online nowadays.
You could always try to sell it yourself for a short while, then hire a real estate agent down the road if nothing is happening.
In general, hiring a real estate agent is recommended unless you aren’t serious about selling.
Other companies are available that can help sell your home. Some charge a flat fee, others a small commission. Here are some examples:
- Homes By Owner
- Buy Owner
- Sale By Owner Realty
- Zip Realty
- For Sale By Owner
- Broker Direct
If you don’t want the burden of selling the house yourself, then hiring a real estate agent makes a lot of sense. He or she will do all the marketing, show the house, communicate with the buyers, and complete the deal. Your house will likely sell much faster as a result. While you may save a little money by doing it yourself, keep in mind that selling requires a big time commitment. You can always earn more money, but you can’t buy more time.