Who you hire and who you don’t, does matter. What are your reasons for wanting to sell your house without a REALTOR®? Are you trying to save money by not having to pay the listing agent’s commission? Do you want to be in control of the process? Are you afraid you will feel stuck in a contract with an agent who you don’t like? Do you think you can speak most knowledgeably about your home? While these are valid reasons, they are not enough to warrant all the headaches that come along with trying to sell your home yourself. If you are not up for the challenge of familiarizing yourself with real estate vocabulary and how to execute a real estate transaction correctly, it may be hard for you to be successful in selling your own home without help from an expert.
How Does an Agent Earn Their Commission?
A real estate agent undertakes a laundry list of tasks and responsibilities to earn their commission. Along with listing your home on the local Multiple Listing Service, they market your home, they arrange showings, often times they will host open houses, act as the intermediary with negotiations, understand and execute all contracts, they research and price your home, and they accompany you to closings. All of this is just the tip of the iceberg.
Agents also take a risk when deciding to work with a customer. Agents have a lot more work to do in a typical day than most realize. They are responsible for being in constant contact with their customers, vendors, partners, and prospective customers by answering an enormous number of emails, phone calls, social media outlets, websites, and voicemails. They spend several hours per day marketing their listings, finding buyers, and advertising. They schedule meetings and appointments for inspectors, appraisers, surveyors, contractors, and insurance agents. They negotiate offers, deals, and contracts, and depending on the state in which you live, selling a home can require dozens of forms, disclosures, and other technical documents. Agents also have the responsibility of staying current on the local, national, and global markets, trends, and economy. The list goes on and on.
Each Transaction and Client Is Unique
Not only do the agents handle the technical and legal aspects of the transaction, but they can also be your sounding board. Agents know that your home is unique and more than just four walls and a roof. They understand that selling a home can be an emotional rollercoaster, and they know just how to deal with you when the stress starts to creep in. You won’t have to go through anything alone with an agent by your side. Every licensed REALTOR® also adheres to a strict code of ethics and standards, based on professionalism and protection of the public.
Things You CAN Do Yourself to Save Money
There are a lot of ways to save money in the home-buying process, but when it comes to the ins-and-outs of the ever-changing world of real estate, please do yourself a favor and hire a professional.
Consider some minor updates that aren’t tied to individual tastes is a surefire way to increase your home value and maintain a broad appeal to buyers. You can do a lot of minor improvements yourself, such as apply a fresh coat of paint, clean up your yard, minimize your clutter, take care of any odors, and deep clean your home and carpets.
Who you hire matters!