In today’s real estate market, it’s easy to think you can do it alone when you buy or sell a home. Thanks to the internet, you now have access to almost all the information you need, and the means to market your home on your own.
However, unless you have the experience and expertise, working without a real estate agent is like going into battle without the right gear and ammunition. Selling or buying a home is more complex than most people think, and the guidance of a real estate professional helps make sure you get the best possible outcome.
Here are just some of the reasons why you need a real estate agent when you buy or sell a home.
- Moneywise, it makes good sense to work with a Realtor
The standard real estate commission fee is 6%, which is normally paid by the seller, and is split between the selling agent and the buying agent. Selling your home on your own may save you the listing agent’s commission fee. Most likely, however, you will still need to pay the buying agent’s commission, so the savings you get may be less substantial than you anticipate.
More importantly, you get a lot for the commission you pay your listing agent. In many cases, Realtors shoulder the costs of producing marketing materials, such as professional photos, brochures, and mailers. Some Realtors go the extra mile and provide other services for free, such as a home staging consultation and connecting clients with contractors, mortgage brokers, and other services.
If you’re a buyer, working with a Realtor comes at no cost to you, since the seller pays the commission fees. And you also get a ton of benefits for the free real estate consultation and other services you receive.
Here’s something to think about: According to the 2019 Profile of Home Buyers and Sellers by the National Association of Realtors, the average selling price of FSBO (For Sale by Owner) homes was 30% less than the average selling price of homes represented by agents. This only goes to show that working without an agent does not automatically mean you benefit, financially.
- A Realtor knows how to price a home correctly
Many FSBO sales don’t succeed because homeowners tend to price their home too high for the market. An experienced real estate agent will know how to set the right listing price for your property.
With their access to current and historical market data, they can conduct a Comparative Market Analysis that takes relevant info into account, such as the prices of recently sold homes in the area, home inventory, and housing demand, which they use to come up with the right listing price. Your Realtor may also recommend a pricing strategy, such as listing above or under the average market price, based on what they think would work best for your property.
For buyers, your Realtor can do a similar study to help you come up with a competitive offer price without leaving money on the table.
- A Realtor can give your home widespread exposure
If you want your property to have the widest exposure, you need to get it listed on the MLS (Multiple Listing Services). Realtors use the MLS in finding prospect properties that meet their clients’ needs. Consumers may also access it to look for a home. However, only licensed agents who are members of the National Association of Realtors (NAR) can list properties on the MLS.
In addition to listing on the MLS, your Realtor can also tap their extensive network to market your home. They may send out brochures and emails to prospective buyers on their database, or to other Realtors and professionals in their network. Your agent may also have access to real estate portals that target the right demographic, such as a website dedicated to luxury listings for buyers and investors around the world.
- A Realtor can help you find the right home more quickly and efficiently
You can access listing sites and browse available homes for sale – but can you spare long hours to do this? If you go home shopping only on your free time, you could lose out on great opportunities, especially in a hot market like Skagit County.
On the other hand, a Realtor devotes all their time to serving their clients’ needs, including finding the right property. And they know how to go about this efficiently so that nothing promising escapes their attention.
A Realtor’s local knowledge can also help speed up the home searching process. Through their network and intimate familiarity with homes and neighborhoods in the area, your agent can narrow down your search much faster than if you were to do it alone.
We at The Groesbeck Group are the Realtors to call in Skagit County. Find out more about what we can do for you and how we can help you succeed in your home selling or home buying venture. For a free in-home consultation, get in touch today at 360.941.3734 or email Info(at)JeanGroesbeck(dotted)com.