When selling a house, there are a number of reasons to hire a real estate agent. If you choose not to hire a seller’s agent, you are responsible for doing everything yourself. While this is not impossible, it is usually not the smoothest route to take when selling a property. Even though you might be tempted to avoid paying an agent’s commission, the following reasons to hire a real estate agent may make you reconsider your decision to sell your house on your own.
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1. MLS
One of the reasons to hire a real estate agent is that you are entitled to have your home listed with the MLS. “MLS” stands for the Multiple Listing Service. This is the major real estate portal that publicizes homes for sale. The MLS gives your house much more publicity than it would get, otherwise. If you attempt to sell your house as a FSBO (for sale by owner), you will be at a disadvantage because it will not be part of the MLS.
2. Market Analysis
A seller’s agent has the knowledge to perform a market analysis, comparing your property to comparable properties that have sold in your area. This is an effective way to determine the right selling price for your home. Without a market analysis, you have no way of knowing what your house is really worth. You could perform your own market analysis, but you must gain access to property records and other data. This is possible, but it will take a lot of time and homework to get the information you need.
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3. Protect Your Interests
A real estate agent can protect your interests. When you hire an experienced agent to sell your house, buyers are less likely to try to take advantage of you. Your agent will represent you and talk to buyers’ agents, on your behalf. Once you receive offers, your agent will guide you through the paperwork process, too. The paperwork, alone, can be a real nightmare for you during a FSBO transaction.
4. Marketing and Advertising
Experienced agents know the most effective ways to market and advertise your house. Besides the MLS, your agent may also advertise your home in other print and online publications. Agents often get lower advertising rates with these publications, too. Do you know the best channels for selling your house? An experienced agent does.
5. Negotiations
All negotiations will take place through your agent. This way, you do not need to deal with any prospective buyers on your own. Since I’m not a great negotiator, it is vital that I hire an agent to sell my house. Otherwise, I might inadvertently lose a sale. Since an agent is not emotionally tied to your property like you are, she is in a better position to negotiate, on your behalf.
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6. Time
Honestly, do you really have time to schedule showings, hold open houses, and do everything else necessary to get your home sold? Probably not, but a full-time agent does. Closing a sale requires hours of preparation before and during the sales process. An agent has time to study the market and offer advice. If you already have a full-time job, selling your house as a FSBO is like taking on another job.
7. Agents Are “in the Know”
By hiring a real estate agent, you gain indirect access to a group of colleagues and business acquaintances. Sales often happen because of the agent’s contacts. Your agent could talk to another agent whose client is looking for a property like yours. Your house could sell through word-of-mouth. You are opening yourself up to a much larger pool of buyers when you hire a seller’s agent.
Selling a property as a FSBO is a lot of work. If you have sold a house, what are some other advantages you experienced when hiring a real estate seller’s agent?
