Why Should You Use a Real Estate Agent to Sell Your Home?
You are getting ready to list your home and are thinking, “Why not sell my home on my own? Who wants to pay a Realtor’s fee?” You may believe trying to sell your home by yourself will keep it simple and save you money.
The reality is that selling your home on your own is time-consuming and complicated and puts you in danger of making less money on your sale or not making a sale at all!
Why hire a Realtor? The overwhelming majority of homes sold in 2020 were done so with the help of a real estate agent. Here are the compelling reasons why using an agent is better than trying to sell on your own!
FSBOs are Inefficient
You are ready to move and full of momentum. Perhaps you have even made an offer on another home. If you list your home as For-Sale-By-Owner (FSBO), you could be setting yourself up for a hurry-up-and-wait situation, or worse, you could sell your home for less than it is worth.
The statistics on FSBO sales are rather dreary. In 2020, FSBOs comprised only 8% of home sales, according to the National Association of REALTORS® (NAR).
Many buyers are put off by FSBOs. They are reticent about dealing directly with sellers and not being able to negotiate for fear of insulting sellers. They often perceive a lack of access to legal paperwork and seller accountability. These reservations prompt many to pass on pursuing FSBOs.
Your Listing Agent is a Marketing Expert
According to the 2020 National Association of REALTORS® Profile of Home Buyers and Sellers, 89% of sellers used a real estate agent to sell their home, and 74% of sellers would definitely use same agent again. That is a lot of satisfaction!
An experienced Realtor will do the following to position your home for a quick sale at the highest price:
- Help you prepare your home for sale from start to finish and showcase its features
- Market your home on the Multiple Listing Service (MLS) and other syndicated sites, giving it the most high-profile, up-to-date exposure available
- Determine which markets to target and what channels to use to drive buyer traffic to your home
- Anticipate buyers’ questions and be ready with honest answers
- Hire a professional real estate photographer and employ other marketing strategies such as virtual tours, single-listing websites, aerial videos, twilight photography and interactive floorplans
- Reach out to their network of current buyers and other Realtors
Sell Your Home for More Money!
Going it alone without hiring a Realtor all too often leads to undervaluing your home and selling for less than it is worth. The average FSBO home sale underperforms in sale price as compared to the average agent-assisted home sale. In 2020, the typical agent-assisted home sale was $295,000 while the typical FSBO sold for just $217,900, according to NAR.
You also risk setting the price too high and allowing your home to languish on the market. It could even expire without any offers at all!
A real estate agent will conduct a comparative market analysis to appropriately price your home, taking all the features and the condition of your home into account. Your agent will then compare it to other recent sales in your area to determine the right asking price.
Your Agent Knows the Process
A listing agent will bring the experience and tools needed negotiate effectively on your behalf to get you the highest offers! She or he will handle the proper paperwork to legally hold your deal together and reassure both you and your buyer that all proper protocols are being followed.
The cost of not using a Realtor could end up being tens of thousands more than the fee you were trying to save in the first place! Remember, you get what you pay for--Realtors are called experts for a reason!
A great listing agent will price your home to sell for maximum value, market it through the right channels, find your ideal buyer and handle all the aspects of your transaction to save you a lot of stress and free you up to focus on your move!
Source: 2020 National Association of REALTORS® Profile of Home Buyers and Sellers 2020 National Association of REALTORS® Profile of Home Buyers and Sellers