Many home sellers think that they may be saving money if they sell their homes without the help of realtors or real estate agents. Some think that advertising their house FSBO or For Sale By Owner is the best way to go, and acting as their own agents is well worth the savings.
Studies reveal otherwise. While it is really tempting to sell your house by yourself, the risks of doing it alone are higher than the benefits it brings. One essential problem you might encounter is not being familiar with all the legal and regulatory requirements you need to accomplish when selling a home.
Here are six benefits of using real estate agents when selling your home:
1. Right Pricing
Selling your home, believe it or not, is an emotional process. And more often than not, it’s hard to separate emotions in pricing your home. You feel that you have invested so much work and effort into your home and worked so hard to get your home ready for sale, and those efforts should be added to the list price.
Getting a real estate agent to sell your home makes it less emotional since you are one step removed from the transaction. Additionally, you are less likely to make mistakes such as overpricing your home, refusing to counter low offers, or giving in easily. Let us help you decide what your Maui home or condo is worth.
2. No FSBO Sign
If the buyer’s agent sees an FSBO (For Sale By Owner) deal, the agent will know that there wouldn’t be a colleague on the other side of the transaction, and the commissions are not guaranteed, so he will most likely discourage the client from buying your home. Even if the client wants to see your home, the buyer’s agent might highlight the risks and hassles of closing a deal without any realtor representing the seller.
The FSBO is generally viewed by the real estate industry as unreasonable, unrealistic, and are most likely difficult sellers that real estate agents have already rejected. Many experienced real estate agents have been victimized by the FSBO deal, in which the seller did not pay the full commission agreed upon, or even worse, did not pay any commission at all.
3. Better Home Presentation
Some buyers are willing to buy your home as-is, where-is, meaning you don’t have to do any repairs or any cosmetic upgrades. The problem with that kind of transaction is that you will be selling your home at a lower price than it would if you ever did some upgrades.
Presentation is big when it comes to selling your home nowadays. A modest repaint job, new carpets, even adding some simple decorations would go a long way in terms of presentation.
Real estate agents know what would make your home more appealing to prospective clients since this is part of their job and what they are paid to do. A little investment can go a long way for sellers when it comes to making their homes a little more presentable than before. Talking to an agent before making the necessary improvements is ideal because they will know which improvements will better return your investment.
4. Access Large Networks
While it is true that you can list your home to Redfin, Craigslist, Zillow, or multiple listing services (MLS) that agents use, that will not guarantee success. You may have a large professional and personal network, but these people would not likely spread the word that your home is for sale.
A solid real estate agent has a massive amount of names and contact information at their disposal so that they can spread the word about the property they just listed. Some do email blasts to thousands of names within days of listing a property and then aggressively marketing the property on as many websites as possible to show consistency.
5. Price Negotiations
If you go against the buyer’s agent when negotiating a home sale, you are disadvantaged because the buyer’s agent has specialized experience. It’s more likely that they will come up victorious in the negotiation, which means less money for you. Getting the services of an experienced selling agent will level the playing field, or maybe tilt it up to your favor.
Experienced selling agents know the negotiating game and can play it with their eyes closed. We know all the tricks, the warning signs, and the ways of a nervous or an indigenous buyer. They likewise know the market’s pulse, and what drives demand, so they know which terms to negotiate and to fight for and which terms to let the other party win.
6. Close the Deal Faster
In the past, selling your home was not that complicated. There wasn’t too much paperwork, and closing a deal isn’t too hard of a task. Nowadays, it’s as complicated as you can get. With all the state and federal regulations that needed to be followed, closings can be overwhelming. Hiring the help of a trained real estate agent will take the stress and the burden from your shoulders, and agents can take you to the closing table faster.
Having a real estate agent on your side is one of the best decisions you’ll ever make. Choose one who knows the process from the onset of the sale to closing and how to do it legally.
Selling your home may be the biggest transaction you’ll ever do in life. Doing it alone may be very risky as it is a tall task. You can do it alone but hiring a real estate agent is the best option for you. Purchase contracts, disclosure, financing, and all the other things that come into play when you’re selling your home are not easy to understand. Having an agent to guide you from listing your home to closing the deal may be the game changer in your quest for that Maui real estate sale.