Homeowners frequently choose to try to sell their homes themselves. The reasons behind this decision make perfect sense in theory, you will save the agents commission and also sell your home on your terms. In reality, unfortunately, this is rarely the outcome. When selling their own home, homeowners frequently come up against pitfalls that they were not anticipating, such as contracts and negotiations, that leave them out of their depth. Here are 5 reasons why selling your home with an agent makes great sense;
According to the National Association of Realtor®’s Profile of Home Buyers and Sellers, the average ‘For Sale By Owner’ sales price was $185,000, while the average price for a home represented by an agent was $245,000. With a $60,000 difference in price and someone else to handle any stress, that is a good deal!
A Competitive Pricing Strategy
Relying on an online assessment tool, which generates automatic figures, to price your home is not a wise decision. Furthermore, relying on the neighborhood gossip of how much your neighbor bought or sold their home for is not an effective pricing strategy either. It is impossible for a computer generated program to substitute for an agents market knowledge. Each home is different to a degree, whether it is floor plan, market conditions at the time of sale, or choice of interior paint color – it all counts. Price to high – your home could languish on the market for months, price too low – you won’t maximize your profits the way you could have by using an experienced agent.
Almost everyone starts their real estate search online. Homes which are being sold by their owner do not typically have the online exposure level that an agent can ensure. By utilizing tools such as the Multiple Listing Service, an agent can market your house to many more people. Licensed Realtors also have the means to promote your house to fellow Realtors, who in turn can share this information with their clients. For a homeowner to reach so many people it would typically cost them a tonne of money in advertising, therefore defeating most homeowners reason for selling by themselves in the first place.
Someone To Take The Heat
Showing a home can be demanding. If you aren’t experienced in showing property and dealing with the public you can find it very stressful, very quickly. Not only does it become time-consuming to schedule showings, you also have no way of verifying serious buyers from people who just love to look at homes! Agents do all of the organizing and showings for you as well as weed out unsuitable offers, saving you time and money.
Closing The Contract
Any type of contract can be intimidating to read and implement, however a real estate contract typically includes more than 20 pages of complicated paperwork. Agents can help to protect you and work in your best interests by tailoring contracts to cover issues related specifically to your property. By completing contracts yourself you could open yourself up to legalities and law suits, or end up paying more out in lawyers fees. An agent will take care of all property disclosures and documentation for you to avoid future liability.
Think you might need help selling your property? Don’t worry! We’re here to help you get the best price for your home. Contact us today for the free, no obligation, comparative market analysis of your home.