Selling your home using a Realtor
It’s easy to believe that you don’t need a realtor to sell your house these days. The ubiquity of companies like Zillow, Trulia, and others can make it seem like you can do it yourself.
And perhaps having a realtor is NOT an actual requirement anymore. Maybe you CAN sell your home without any help and save one of the most common costs of selling a house. But it isn’t as easy as it seems.
However, a Realtor can add a lot of value to your transaction.
The home selling process can get tricky at times. Dealing with difficult buyers, knowing the right price to list and sell for, and dealing with inspections and appraisals make selling a house on your own a hassle at best. At worst, it can be an absolute disaster.
Here are eight benefits of selling your home using a realtor
#1 – You will probably make more money
Collateral Analytics’ July 2017 study found that For Sale By Owners (or FSBOs) do not save any money and may even be more expensive than listing with an agent. The study found that FSBOs were able to sell their homes for 5.5 – 6% less than comparable properties listed by Realtors through the Multiple Listing Service (MLS).
This is likey due to two reasons. First, homeowners may not have the best negotiating skills and they may settle for a lower price than what they could have gotten. Secondly, When a buyer makes an offer on a For Sale By Owner home, they know that the owner is not paying 6% for a realtor and may therefore expect a significantly lower price as a result.
#2 – You’ll get better exposure for your home
Realtors are the only ones able to list homes for sale on the Multiple Listing Service (MLS). Homes that are sold without the assistance of a Realtor will not be listed on the MLS.
Why is this important? The MLS is where most Realtors begin their search for homes to sell. The MLS allows you to list your property for maximum exposure. It is actively marketed by all 13,000+ Austin Realtors and is often automatically syndicated and displayed at third-party sites such as Trulia and Zillow. You get the best of both of them.
In addition, almost all homebuyers these days start their search online before they even hire a real estate agent. So If your property is not listed with the MLS, then they cannot find it online.
#3 – Your home will probably sell faster
When you choose For Sale By Owner, you generally have less exposure, as mentioned above. For that reason and the fact that some people prefer to deal with real estate agents when purchasing a home, FSBOs, on average, take longer to sell.
Now that doesn’t mean that someone won’t drive down your street the first day, see the sign in the yard, and fall in love with you home. But, the odd are, you will take about 19 days longer to sell your property without a Realtor, according to BrandonGaille.com.
#4 – A professional in the field can help you navigate the transaction
A Realtor has special training in real estate. And there’s no substitute for the hands-on experience that a Real estate agent can provide. They are able to share their market knowledge and can provide a detailed analysis of comparable homes in your area.
Because they have been there, done that, an experienced realtor can often predict what might happen in a negotiation and devise strategies to overcome them before they even happen. Negotiations are vitally important to have the most successful deal possible.
#5 – A skilled negotiator will advocate for you
An experienced real estate agent is an experienced negotiator. Because they are familiarized with common negotiation techniques, there will be fewer surprises in the transaction. They know what to expect because they have “seen it all before”. This will result in better results for you and more satisfaction in the end.
#6 – Your Realtor will look out for your best interests
A Realtor is responsible for their client’s fiduciary duties. This means that they have to protect your interests first. Afterall, your interests usually aline with their interests due to the commission arrangement. The more money your house sells for, the more money BOTH of you make. The faster the home sells, the better it is for BOTH of you.
#7 – Save yourself a lot of headaches
Are you prepared for the phone to ring and your email to explode? Many homeowners who attempt to sell their house on their own give up after a few weeks because it is a lot of work. Most people underestimate the amount of work it takes to go through the entire selling process.
Agents, neighbors, and potential buyers will be contacting you directly. Next, you will need to deal with disclosures and inspections as well as contracts and possible re-negotiations. You will need to work directly with the title company as well as other parties once your home has been under contract. These details are just some of what is handled by a real estate agent.
#8 – There is nothing to lose
Your realtor only earns a commission if he actually does his job and sells your house. And given the value they provide, what are you waiting for? Hiring a real estate agent will save your time, headaches, and probably some money too.
Find a Realtor who has experience
Once you are aware of the value of a Realtor, you can start to look for someone who has experience in order to get the best result. You want a Realtor who will offer honest advice, discuss market trends, and create a marketing strategy to maximize exposure for your home via the MLS and beyond. This will make the process much easier when you sell your home.
Ask your family and friends for recommendations, but also do your research. Your Realtor will be the one you spend most of your time with, so make sure to do your research and read reviews.