Estimated reading time: 3 minutes
It may be tempting to forgo a real estate agent for your home’s sale and handle it on your own. Afterall, who knows the property better than its owner? Before you jump into a For Sale by Owner (FSBO) situation, let’s outline some of the key reasons you should hire an agent to help you sell your home.
Without an agent, you’ll have to juggle your own schedule with the home sale process. Alternatively, a real estate agent will make themselves available to prospective buyers to answer any questions about the property, scheduling and attending open houses or showings, and marketing your home.
Real estate agents have a wide network they can leverage to efficiently sell your home. They have relationships with other clients, agents, and other real estate agencies that can bring in a large pool of buyers. Additionally, agents have the option of listing your property on a multiple listing service (MLS), a database used to provide data about properties for sale. With more demand for your home, you may be able to have a faster sale.
Your agent will be able to keep you one step removed from the home selling process, so your daily life is less disrupted. They are less likely to make common mistakes that often happen in FSBO situations, such as overpricing your home or refusing to counter a low offer. They are also trained to ask qualifying questions to would-be buyers, which may help determine the seriousness of an offer, the buyer’s motivations, and their financing qualifications.
Real estate agents are experts in what’s needed to make homes sell. They can help you determine which pieces of feedback from potential buyers you should act on to improve your chances of selling the home, like minor repairs. As they have an emotional separation from the home, they can also help take the sting out of a rejected offer and put a positive spin on negative feedback.
In a FSBO situation, you would have to compete with a buyer’s agent to get the best offer for your home. Agents are trained to help their clients with offer negotiations. They have a deep understanding of concepts like market conditions or fees such as transfer taxes or closing costs. A real estate agent will be able to advocate for you to ensure you can make the best deal possible.
Home sellers are required to complete property condition disclosures, which reveals details about the property’s condition and its defects to would-be buyers. If something isn’t disclosed properly or a seller willfully conceals information, they could be sued or face other legal action. Your real estate agent most likely knows more about legal and disclosure laws than you do. Even if mistakes happen, they have insurance that protects themselves from professional errors and omissions.
In a September 2024 Clever Real Estate study, data showed that agent represented sellers were nearly 50% more likely to be satisfied with the overall home selling experience. Additionally, these sellers also earned $79,000 to $207,500 more when compared to sellers that didn’t use an agent.
Out of the surveyed sellers, those who didn’t use a real estate agent (47% of surveyed) were nearly twice as likely to be unhappy about the method they used to sell their home than those who did.
Selling your home can be an emotional process. After all the time, love, and effort you put into your property, having an expert in your corner can help you navigate the process from the first offer until after closing.
When you’re ready to purchase your new home, your mortgage lender should be in your corner just like your real estate agent. Contact us to learn more about your financing options!
Homestead Funding offers exceptional customer service and a convenient mortgage process. Whatever your financing needs, our goal is to exceed your expectations.
“This website uses cookies to ensure the best user experience. By using our website you consent to all cookies in accordance with our Cookie policy.
Read More
.jpg)
