The proliferation of real estate information on the internet has made it appear easier than ever to list Real Estate without the help of a real estate agent. While Sellers may believe they will achieve some financial savings by foregoing the help of a seasoned professional, this represents unwarranted scrimping on a very valuable service. Here are our top ten reasons why going solo is more likely to give you a massive headache than any real savings:
1. Knowledge and Experience: Most sellers are unaccustomed to the intricacies of selling real estate. By hiring a real estate agent, you don’t need to understand all of the details in order to sell your home.
2. Better Pricing: Agents are in tune with the market that you are trying to sell your house in. Quite frankly, without knowledge of comparable listings, an asking price is merely a guess. Agents are not emotionally attached to the property and are able to objectively compare it to other available listings. Often an agent will capture a sales price significantly higher than if you sold on your own. This difference in price will often exceed their commission which negates any potential cost savings.
3. Active Advertisement: Agents still have access to the most robust electronic networks and advertising media. An owner simply lacks the tools of an agent.
4. Objective Opinion: An agent is unattached to your property. This objectiveness allows for candid advice for issues ranging from pricing to counteroffers.
5. Recommend Repairs and Upgrades: Have you ever been to someone’s house and asked: “how can they live with that ugly painting in their living room?” or “why don’t they paint that room to bring it into this century?” The harsh reality is that we become comfortable with what is familiar. An agent, who likely has never been in your house, will be able to objectively assess what needs to be removed, repaired, or replaced to quickly maximize the sales price.
6. Help with Negotiation: Some people can negotiate for the sale of their most valuable asset. Some cannot or simply choose not to. By having an objective professional in your corner, you are more likely to have your interests maximized. The agent will know when to press for more and when there’s nothing left to press.
7. Due Diligence: Due diligence can range broadly, including: inspectional items, pest remediation, repairs, environmental compliance, permitting, adequacy of safety features—just to name a few. Agents are better equipped to quickly address these issues as they appear.
8. Evaluation of offers: In addition to having experience with pricing and judging the reasonableness of requested repairs, agents have experience judging the “quality” of an offer. The price that a prospective buyer offers is certainly an important factor but it is not the only factor. If you are lucky enough to receive multiple offers, a seasoned agent can help advise you of which buyer is more like to get to closing on time, with funds.
9. Streamlining the Closing Process: Agents will often obtain or deliver necessary documents, coordinate inspections, communicate with the lawyers, coordinate with other agents, and otherwise, grease the closing process so that it proceeds smoothly. The other responsibilities in your life don’t stop because you’ve decided to sell your house. Using an agent to streamline the process protects your valuable time.
10. Help After Closing: Good agents will help you through closing. Great agents will help you after closing. There may be issues that were overlooked, you may just have questions about the property, a great agent will help you even after the closing has occurred.
Stiles Law is a firm concentrating in real estate conveyancing and mortgage lending services, representing buyers, sellers, borrowers, banks, mortgage companies, investors, builders and developers in all of their real estate and mortgage transactions.
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