If you are considering selling your home, there are several factors you may be considering: How much money should I invest in making my home attractive to buyers? How much can I reasonably expect to be offered for this home? And, most of all, Is it worth it for me to list the home with a real estate agent? If you are deciding between selling your own home or listing with an agent, chances are you are thinking about the potential effect a real estate transaction will have on your time, energy, and finances.
1. Financially, using a real estate professional makes sense
It’s true that you can expect to pay around 6% in commission to a real estate professional – but striking out on your own does not necessarily save you money. If your buyer uses an agent, you may still need to be prepared to pay that agent the customary 3% – otherwise, buyers’ agents might not be motivated to show your home to their clients. Also, when you work with a real estate professional, advertising your home is part of their job – but those who sell on their own find that the cost of advertising their homes adds up quickly. In addition, when it comes down to the closing process, many who sell their own homes find that they still need to hire someone, such as a real estate attorney, to review the contracts and give advice – this can be costly to the homeowner as well.
2. Real estate professionals know the market
When you work with an agent, they have the experience and the background knowledge about your neighborhood – such as comparable listings and sales in the area – that can help you develop a true understanding of the value of your home. Real estate professionals also stay up to date on what would make your home more attractive to buyers in your area. (Often when selling our own homes we let our attachment to the home and our personal tastes dictate these decisions).
3. Agents have a large network of potential buyers
Beyond potential buyers, real estate professionals also have a network of referrals for home repairs, moving companies and other vendors who can make the selling and moving process easier. Also, agents have the Multiple Listing Service (MLS) at their disposal. MLS organizations are only open to professionals, and they are the number one resource for matching potential buyers with properties.
4. Your burden is lessened
There is a reason that working as a real estate professional is a full-time job. Agents will show your home for you, respond to inquiries about your home and evaluate offers – allowing you to dedicate your time and energy to other things. There is also some added security to having a partner in the listing and showing process – potential buyers may contact the agent with inquiries rather than having access to your home or work contact information.
5. Real estate professionals keep negotiations neutral
It can be difficult to keep your emotions in check when you are dealing with potential buyers. It is hard not to take criticisms of your home personally, letting your feelings rule your ability to compromise. An agent can help negotiate any concessions that need to be made and ensure that the process moves smoothly into the closing phase.