So you’re selling your home, and you’ve decided to save money by taking the DIY route. In reality, studies show for sale by owner (FSBO) homes sell for approximately 30 percent less than homes represented by a real estate agent. Can you afford to pass that up?
Here are five significant reasons why working with a real estate agent is the best advantage you can have when selling your home.
- Higher Visibility
What type of marketing plan would you come up with to sell your home quickly and profitably? There’s the traditional sign on the front lawn. You can place ads on Craigslist and other online sites since almost no one reads newspapers anymore. That’s about where it ends. A real estate agent has access to the Multiple Listing Service (MLS) database, where pictures and information about your home are readily available to other agents, including those in different geographic areas. Experienced agents also have an extensive professional network that can yield numerous word-of-mouth referrals. - Greater Negotiating Power
While you may pride yourself on the ability to drive a hard bargain at art fairs and festival marketplaces, negotiating the sale price of a home is an entirely different arena. Even minor issues can mean a difference of thousands of dollars. With extensive experience in negotiations, a real estate agent can advise you when to make concessions, when to stand pat, and how to make a strategic counteroffer. - Knowledge of Legal Terminology and Requirements
Escrow. Title insurance. Balloon payment. FHA mortgage. These terms might make your eyes glaze over, but a real estate agent has a working knowledge of all terminology involved in real estate transactions. The agent can then explain the terms to you in language you can understand. Also, real estate agents stay informed on the current state and local regulations so they can make sure you comply with every step of selling your home. - Accurate Pricing Skills
Your home may be priceless in your eyes, but a buyer isn’t going to care about family holidays and other sentimental memories. A real estate agent has access to a wealth of information such as comparable home sales, or comps, to guide you in setting an optimized but fair selling price. More importantly, an agent doesn’t have an emotional investment in your home, so they can provide an objective assessment. - Dedicated Service
How do you fit in the numerous activities involved in selling your home around the demands of your job? For a real estate agent, selling your home IS their job. The words “too busy” aren’t in an agent’s vocabulary. They’re ready and able to field calls from buyers and other agents, handle marketing tasks and host open houses. Real estate agents have a fiduciary responsibility to you as a client, meaning they’re bound by law to look out for your best interests.
Don’t stumble your way through what is probably the most significant financial transaction of your life. Selling your home with the help of a real estate agent pays off financially, physically, and emotionally.
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