Should I Hire A Real Estate Agent To Sell My Home?

 In Selling

The big question on whether you should hire a real estate agent to sell your home or can you really do it yourself? Obviously biased on this one – The Property Exchange wants you as a client! But will try to have an objective go at explaining the arguments for and against working with a real estate agent to sell your home.

Won’t beat around the bush – real estate is big business. Real estate agents make a living, and quite often a good one, by helping people like you buy and sell homes. But some people do choose to cut out the middleman and sell their own homes.

hire a real estate agent to sellImage by The Property Exchange

Many people choose to go through a real estate agent because it means less hassle for them. Having a real estate agent handle all of the legwork saves the seller a substantial amount of time. Instead of spending your time putting up signs, writing and purchasing ads, and fielding calls from those who may or may not be truly interested, you can concentrate on simply keeping your home showable. The real estate agent can do the rest.

hire a real estate agent to sellImage by The Property Exchange

Real estate agents possess market knowledge that the general public don’t have, and in many cases have little or no access to. This means that they can more accurately determine a workable asking price for your home. They are also experienced in handling negotiations and may be able to help you get a higher selling price than you would get by selling on your own. Generally buyers prefer not to deal directly with sellers, as they don’t feel “protected”. The negotiation process is quite confronting to most people when dealing face to face.

In addition, a good Agent should have a large database of prospective buyers to market your property to, which may well include the perfect buyer for your home.

The downside to going through a real estate agent is having to pay commissions. These are usually a percentage of the home’s selling price. By cutting out the middleman the seller can lower the price and still receive the same amount for their home. However, if you think about that situation then it’s really the buyer saving by paying less for the property! The seller receives the same amount, but has all the work and responsibility!

Selling your own home requires more work on your part than going through a real estate agent. You have the job of marketing your home, taking calls about it, showing it, and settling the deal. You will probably need a lawyer to do the paperwork and ensure that everything goes smoothly.

At the end of the day it is entirely your choice, but it should be noted that 84% of people who start selling their homes themselves revert to using an Agent. This is probably because the negotiation process is a lot more complicated than one thinks and an Agent as a third party can usually attain a far better price than an owner can themselves.

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