Homeowners beginning the process of listing and selling their home sometimes decide to skip hiring a real estate agent in order to save a bit of money on the commission agents earn. Unfortunately, this is almost always a mistake that costs sellers more in the long run, in the form of added stress, more time spent on the market, and possible financial and legal risk. Here are six reasons it's always a good idea to work with an experienced real estate agent when selling your home:
A Real Estate Agent Will Price Your Home Appropriately
Pricing a home correctly is a delicate art that often takes serious experience as well as an in-depth understanding of the local market to master. If you price your home too high (which often happens with for sale by owner listings), it may sit on the market for months, wasting time and money and eventually becoming a stagnant listing that is less appealing to buyers.
If your home is priced too low, you end up with a lower profit than you should, and buyers may be skeptical feeling something must be wrong with the home for it to be priced where it is. A real estate agent will price your home perfectly so that it is likely to sell quickly while also maximizing your profit.
Your Home May Sell for Significantly More
On average, homes sold by a real estate agent go for around $45,000 more than homes sold by owners. Real estate agents simply have the networking access, marketing skills, local market expertise, and negotiating prowess to get you top dollar for your home sale. In the end, most home sellers find that paying a commission to a real estate agent is a small price to pay for a larger profit.
Your Home Will Be Professionally Marketed
In order to sell a home quickly and for your asking price, professional marketing is key. Real estate agents have access to the best online and in-person marketing tools, including paid listings that get to the right buyers. A professional agent will make sure your home is staged to appeal to the largest number of buyers before being photographed to look its absolute best.
You Will Save Tons of Time
Your real estate agent can devote many hours to your home sale because that's their full-time job. They will handle the legwork, find the prospective buyers, schedule showings, and handle paperwork so you don't have to. They also have access to home staging experts, inspectors, mortgage brokers, marketing assistants, and other real estate experts who will further streamline your selling process and remove tasks from your to-do list. If you attempt to sell your home yourself, you may quickly become overwhelmed by how much time is involved on a daily basis.
Your Real Estate Agent is Experienced with Contracts
Real estate regulations are complex and ever-changing, and the contracts and other paperwork involved with selling a home are often written in confusing legal jargon. A real estate agent with years of experience can expertly interpret, negotiate, and draft real estate contracts that protect you financially and legally. When in doubt, most real estate agents have trusted real estate attorneys they can consult any time.
A Real Estate Agent Is a Neutral Party
Selling a home is an emotional process, and it's difficult to remain calm and professional when selling your own home. You may feel the home should sell for more than the market can bear simply because you know how much time and work you put into improving it. If potential buyers say anything disparaging about your home, it will hurt you much more than if your real estate agent was the one working with the buyers on your behalf.
Having a neutral party represent you in the home selling process removes a lot of the emotional complexity from the process, and ensures a professional and smooth experience for everyone involved.
By working with an experienced and skilled real estate agent, you will ensure that the sale of your home goes as smoothly as possible while maximizing your potential profit.