You may not realize just how beneficial using a real estate agent is when buying or selling a home. In fact, in 2011 homes that were sold by owner only accounted for about ten percent of total home sales. Additionally, homes that were sold with the help of a real estate agent were sold on average for about $75,000 more.
You might be tempted to try and sell your home on your own, thinking you can save money and time, but that is not always true. Selling a home by owner can be frustrating. The common homeowner isn’t well-versed in the current housing market and doesn’t always know the right price to list the home at. There is a myriad of paperwork involved in a real estate transaction. This paperwork can be tedious and hard to understand for someone who has not been trained or have real estate experience. Even filling out paperwork correctly can be a difficult task if you don’t know what you’re doing. Also, since you don’t have all day long to work on the sale of your home, it can be very time consuming. For Sale By Owner’s usually have full-time jobs outside of selling their home. Selling a home requires setting aside time to market the home, show it to potential buyers, and follow up on emails and calls about the home. This in itself can become a full-time job. It can also make it difficult to get the house sold in a limited time frame. Marketing your home on your own can also be hard due to the fact that most likely you are attached to the home and cannot see it objectively. You may not know when it is a good idea to fix up certain aspects of the home, or where to spend extra money that will pay off in the end. All of the challenges prove that hiring a real estate agent can take the burden off of the homeowner and make for a smoother and more successful selling process.
There are several reasons why it’s a good idea to hire a real estate agent not only when selling your home, but also when purchasing a home. Firstly, the buyer is not responsible for paying the agent. The commission is most commonly paid for by the seller and is deducted from the sale price of the home. Agents also have access to the Multiple Listing Service or MLS. This service is not accessible to everyone, and it provides the most current information for homes available in any search area. MLS provides information on homes including taxes, listing duration, changes in price, HOA fees, and special aspects of the home. Real estate agents are also great resources for finding information about certain areas or neighborhoods. They can provide information about parks, events, and school districts in the area you are looking to buy that you may not have known. Finally, real estate agents are trained in negotiation which can be the most difficult part of the process. You won’t have to worry about fighting for a certain price, as your real estate agent will do all the work for you to help you get the home at the price you can afford. They can also help negotiate bonus items like refrigerators, or washer and dryers into the deal. Your agent works for you and will help you get the best deal possible.