Do I Need a REALTOR® to Sell My House?
Many sellers may consider listing their homes as “For Sale by Owner (FSBO)” because they want to save the thousands of dollars it will cost to pay an agent to sell their home. However, only 8% of sellers actually sell their homes by themselves. Here are several reasons you should use a real estate agent to sell your home with Level Up Realty:
Sell Your House for More with a Real Estate Agent
In 2016, the average price of a FSBO home was $190,000 while the average price of a home sold by a real estate agent was $250,000. That’s $60,000 or more than 30% higher when using an agent.
Selling a Home by Yourself Doesn’t Mean You Don’t Pay Commissions
Just because you don’t have to pay a listing agent’s commission doesn’t mean you save the 6% a seller’s real estate agent typically asks for. The listing agent’s commission is for their services but is also used to compensate the buyer’s agent, which you will still be expected to do. So instead of saving around 6%, you would save closer to 3% and your house will likely sell for less (see #1 above).
Nearly 90% of Buyers Are Represented by An Agent
As the saying goes, “There is no substitute for experience.” Even if you have been involved in buying and selling a couple homes, an experienced agent goes through the home-sales process more times in a single year than you will in your lifetime. With all of that experience, an agent learns the best ways to get people into your home, knows what buyers are looking for in the market, and can help you navigate the frustrations of the appraisal, inspections, disclosures, and any concessions requested by the buyer. Having an agent with finely-honed skills in your corner is invaluable, while not having an agent when the other side does is unwise.
Navigate the Process
In a recent survey we conducted, 47% of homeowners said the most valuable thing their real estate agent did was help them navigate the sales process and the paperwork. And when your house is sold, you will still have a lot of paperwork. Real estate contracts are meant to protect you legally, but if they aren’t completed correctly, you may end up losing a deal or becoming liable for mistakes. An experienced agent can help you with real estate contracts and can walk you through the process and provide direction based on their historical experience. This will help the process run more smoothly.
Real estate agents are a great resource when you are buying or selling a house. They will work to give you better access to other clients, negotiate deals, and interpret contracts. Consider agents as your guides in exploring the world of real estate.
Save You Time and Frustration
Selling a home is more than just listing your house on an MLS (Multiple Listing Service). They help determine the right price to list your home, set up appointments, write-up contracts, lead negotiations, meet with the inspector, the appraiser, review disclosures, and more. All of that takes a lot of time, often in the middle of working hours, and can be frustrating to navigate on your own.
Even if you take the financial part out of the equation, selling your home is a huge logistical and emotional undertaking, which is why you should seriously consider whether doing it yourself is right for you or if you need to hire a licensed real estate agent.