If you are considering selling your home, you may be wondering if you need to work with a real estate agent. After all, it’s challenging to avoid paying more than you have to, especially in this economy – why pay a realtor commission on top of all the other closing costs? But real estate deals are complex and involve a lot of money, and there are many good reasons to have a professional on your side. Hiring a realtor may be worth the extra cost.
“Most people think that a real estate agent is going to turn the key, open the door and eight to 10 weeks later collect a big fat commission check — nothing could be further from the truth,” says Michael Shapot, a Realtor with Keller Williams in New York. York City. “A real estate agent is a problem solver and logistical coordinator. We provide emotional support and make sure the process runs smoothly. We help all parties play well in the sandbox to guarantee a sale.”
Take a closer look at the benefits of using a real estate agent instead of going it alone.
Agents can get you a better deal.
First of all, working with an agent when selling your home will get you a higher selling price and a more favorable deal.
According to a 2021 report from the National Association of Realtors, the typical FSBO home sold for $260,000 versus $318,000 for an agent-assisted home sale. That’s an extra $58,000 in the pockets of sellers using an agent – more than enough to cover the cost of commissions and still have a healthy profit.
Agents aren’t the only ones who recommend using agents. Shaw Martin of Denver Home Buying Company, a home buying company, agrees that having a Realtor on your team makes sense. “An experienced realtor can help you determine the right asking price for your home based on recent sales of similar homes in your area,” he says.
Your home listing will have wider exposure
“A realtor can effectively market your home to prospective buyers,” says Martin. “This includes creating eye-catching listings, taking professional photos and using the latest technology to market your home online.”
An agent will also make sure your home is added to the local MLS or multiple listing service, which other agents use to find listings that match their clients’ needs. This means more people will see your listing – and more exposure means more people who can buy. With a wider pool of house hunters to look at it, your home has a better chance of getting an offer or even sparking a bidding war to increase its sale price.
You get access to a wide professional network
Likewise, realtors have a large professional network to tap into during the home selling process. Access to a wide range of real estate professionals will help you connect with interior design companies, landscapers, real estate attorneys, and more who can help you on your sales journey. Advice from a trusted agent will save you the time and effort of researching it all yourself.
Agents are objective
Selling your home can be an emotional experience. You may have a lot of memories there, and it’s normal to get emotional. It can be difficult for a seller to see the place where he raised his family as simply a product to be sold to the highest bidder – but it’s easy for a Realtor. The agent is an objective third party looking at your home without the memories and emotional attachments you’ve built. This allows them to provide advice and guidance on getting the best possible value.
You will have a faster and more efficient closing
An experienced agent can save you valuable time. The closing process can be long and complicated, with a lot of back and forth and a lot of waiting. And if you go the FSBO route, you’ll be responsible for everything from evaluating offers to negotiating to scheduling and more.
Adding all these responsibilities to your plate while juggling a day job and possibly even trying to buy a new home can be overwhelming. When you have an agent, it’s their job to handle these things for you.
“There’s a lot of paperwork involved in selling a home, and it can be very confusing for those unfamiliar with the process,” says Martin. “A realtor can handle all the paperwork for you and make sure everything is in order. This will help the sales process go more smoothly.
That’s why it’s so important to find an agent you click with: interview several candidates before hiring one, and don’t be afraid to ask questions. The better the agent understands your needs, the better the chance that those needs will be met.
They negotiate on your behalf and reduce risk
A Realtor works on your behalf, using their professional knowledge and skills to help you get the best value for your home. They can also advise you on any surprises that may arise or anything that could throw a wrench in the sale.
“A real estate agent gives the client peace of mind that a deal will make it to the closing table – at a good price, with a high probability of closing on time and with minimal stress,” says Shapot. Ultimately, a big part of the agent’s job is to address the three key fears every salesperson faces: “FOMO,” the fear of making a mistake, and the fear of taking advantage.
While a realtor isn’t essential when selling your home, hiring one is often worth it. After all, your home can be your most valuable asset, and a professional agent can help you make the most of that investment when it’s time to sell, ensuring the transaction goes smoothly and providing valuable peace of mind.