With all the information available on the internet these days, it’s tempting to try to sell your home yourself. After all, that 6% commission cut you would have to give to the real estate agent would feel much better in your bank account, right?
But if it’s better to pocket the extra cash, why do 89% of American homeowners still use Realtors to close the deal? It’s possible that some of these sellers did try to go it alone, but ran into some problems they weren’t expecting. For example, FSBO (For Sale By Owner) sellers consistently report issues with getting a good price, understanding and filling out the right paperwork, and selling their homes in a reasonable amount of time. So, before you decide to forego the Realtor altogether, let’s take a look at some of the main benefits of hiring one.
1. Selling Your Home is Your Realtor’s Full-Time Job
Chances are you have a full-time job yourself. And even if you could take a few months off work to do all the research and legwork it takes to market and sell a home, why would you want to? A real estate agent has spent hundreds of hours learning the ins and outs of the business. They know exactly where and how to find the right information to price your home properly and sell it in the shortest amount of time. They also already have access to the necessary comps (comparables) that go into the calculations of the going rate. Do yourself a favor and keep your day job!
2. Home Buyers Use Realtors
Since 87% of home buyers hire real estate agents to find their homes, selling your home yourself could take you off the visible market. Home buyers sometimes start out searching listings on their own, but quickly realize they don’t have the time or the resources to find exactly what they’re looking for. They usually find that a Realtor can find homes with their specific requirements and narrow down their search tremendously. If your home is not listed with an agency, there’s a good chance the right buyers will never find you.
3. Realtors Handle Your Paperwork for You
The paperwork it takes to sell a home is mind-boggling. Purchase agreements for a real estate contract can run more than 10 pages. And that doesn’t include all the preliminary contracts and formalities you could run into. You will be required to obtain inspections, property searches and appraisals upfront that could change any agreements made between the buyer and seller. These are all things that Realtors address every day, but you may only deal with once in your life.
Conclusion
When you make the decision to sell your home, there will be a lot of preparations to make and variables to consider. You can certainly spend the majority of your time trying to figure out all the details yourself, or you can leave it to a trained professional who handles these situations for a living. And 6% may sound like too much to part with, but the amount will likely be recouped when your agent uses his or her negotiating skills to get you top dollar for your home. After all, more money for you means more money for your Realtor!