Benefits of Selling Your Home Without An Agent
(For Sale By Owner, FSBO)
Search online and you’re sure to find people who have had success selling their homes without an agent. However, there are far more horror stories. Most sellers choose the FSBO route to avoid paying a commission to a real estate agent. Typically, the buyer’s agent and the seller’s agent split a commission of 4 to 6% of the home’s purchase price. Say, the purchase price is $700,000. You can save lots of money.
When you decide to sell without an agent, you will have to study what is involved in a real estate transaction, because you are in charge. When potential buyers call to ask questions about the house, you have to answer them. The first few times, this may seem exciting, but it will eventually become tiresome. Where will you advertise your house? Do you have time to show it to potential buyers? Are you a lawyer? You’ll need to know all of the current real estate laws. Not only do you need to know the current real estate laws—and then there’s the closing.
Selling a home is one of the largest financial transactions you will ever be a part of. Why would you want to attempt it alone?
Benefits of Hiring An Agent
Realtors sell homes faster. They have access to a multiple listing service (MLS). This is a membership only list, available to real estate brokers and agents. Not only will your agent be able to add your home to the MLS, but they also come with a built-in network of buyers looking for a home. From a strong social media presence to a well-designed website, your real estate agent brings plenty to the table.
You will have to pay a commission—most of the time that money is well-spent, because you’ll be hiring an expert with intimate knowledge of the local real estate market and how real estate transactions work. An agent will know how to price your home just right. A list price too high will scare off potential buyers, while a list price too low may have potential buyers wondering what’s wrong with the home.
A real estate agent can be objective, without the emotional attachment you have to your home.
Plus agents have professional negotiating skills, because it’s what they do for a living. Real estate transactions come with a large amount of paperwork, which can become overwhelming. Your real estate agent knows exactly how to handle the paperwork throughout the process, and they understand real estate laws. You won’t wind up in court due to a law you were unaware of.
A real estate agent will know exactly how to show off your home in the best light with amazing listing pictures and they’ll know how to show it.
There are many benefits that come along with hiring an agent when you sell your home. Real estate transactions are complicated and the expertise of an agent is priceless. Chances are you will sell your home for a higher price and faster
