People think that if they don’t use an agent to sell their home, they’ll wind up with more money in their pockets. The fact is, they probably won’t. A recent study found that home sellers who used an agent made an average of almost a third more in profit—nearly $47,000—than sellers who sold without an agent. In addition, a report from the National Association of Realtors (NAR) revealed two important areas where people who sold without an agent had the most trouble: setting the price and dealing with the paperwork. Using an agent will make those jobs way easier. Here’s why.
Agents know how to list your home at the right price. The goal is to get your home sold for the most money in a timely manner. An important part of achieving that goal is to correctly price your home, right from the start. First impressions count. When your listing hits the market, it’s your first shot at pulling in buyers. If your home is overpriced, it won’t look like good value compared to the competition at that price point. If it’s underpriced, you might make less money than you could have. Plus, a bargain price can turn away buyers who think there must be something wrong with the property.
Real estate agents know how to avoid these problems. They know how to come up with the right listing price because they have an up-to-date understanding of the local market, as well as expertise in knowing what buyers are willing to pay. They’re aware of what comparable homes have recently sold for, and they may know details of those sales that would influence how your home should be priced.
Agents are experts at paperwork. There’s a ton of paperwork to complete in order to sell a home—disclosures and other forms, contracts, and other legal documents. Thoroughness and accuracy are key. If you miss something or provide an incorrect detail, you could wind up making a costly mistake, or, worse, losing the transaction. Agents have been through all this, dealing with these issues on a regular basis. They’re familiar with all the contracts and paperwork and know all the rules. They can protect you from legal complications and liabilities. They can make sure you do everything needed to complete the process correctly and in a timely manner.
Agents also can help you with many other issues that come up—staging, inspections, appraisals, financing referrals, and, above all, negotiations. This last is an area where an agent’s experience can make all the difference in how much you take away from the sale. We hope you’ll consider us whenever you decide to make your next move.
Thinking of selling or buying a home? Please text, call, or email us to learn about your best options today!
