One of the first questions a potential seller asks
themselves when they’re considering selling their home is whether to use a
realtor or list it themselves. At first thought, many sellers think why would I
use an agent when I could avoid a commission payout by just listing it myself. Here
are a few advantages to using a realtor as opposed to listing it FSBO (“For
Sale by Owner.”)
1. Price
One of the most difficult things to do when listing a home is price it correctly. A home’s value is constantly changing as homes in the area turn hands. Mis-pricing a home can cost a seller thousands of dollars. A realtor has local knowledge of the area and knows exactly what value the home will command. Realtors will run a Comparable Market Analysis (“CMA”) on your home that pulls all recent sales in the area of comparable homes to yours. This will help gauge what the list price should be. Many people would be surprised to know what exactly they could sell their home for in the current market and listing it themselves would be leaving money on the table.
2. Time
In life, we’re all busy. The convenience of taking my vehicle to a professional oil change business as opposed to doing it myself frees up my time to commit to other important items. The same is true for real estate. The real estate transaction process can be a long and complicated one. Having someone who is in it for the entirety is an immeasurable benefit. From advertising your house in the necessary places in your local market, to having a database of potential buyers who are ready to tour as soon as the right house hits the market, your time and energy will be saved by listing it with an agent who knows the ins and outs of the profession. Connecting a buyer and seller is typically much quicker when you have a personal guide who’s made a profession of real estate. I have seen several FSBO transactions take years to complete. The commission a realtor is paid is a small price to pay when you consider the time that it could take to complete your sale on your own.
3. Negotiation
Selling a home can be one of the most expensive transactions someone will make in their lifetime. This can lead to a wide array of emotions. As such, having a realtor in your corner to help negotiate the deal can lead to thousands of more dollars in your pocket and peace of mind that the deal that you agree to will benefit you in the long-term. Price is typically one of the easiest things to agree on. However, there are numerous other parts of the deal that need to be negotiated along the way that people tend to overlook. Having someone who is a fiduciary on your behalf can help you get the best deal possible. Overlooking other important factors beyond the price of the home can lead to less money, more stress, and an overall headache during the transaction process. Having an expert negotiate on your behalf can be one of the biggest benefits to using a realtor.
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