Deciding whether or not to use a real estate agent when buying or selling your next home is a question that may have been asked in the past. If you are unsure whether using a real estate agent would be beneficial, perhaps this article can help.
The 2011 profile of home buyers and sellers created and distributed by the National Association of Realtors shows that Sales by Homeowners (FSBO) accounted for only 10% of home sales. Additionally, the average FSBO listing sold for $ 150,000 while the average realtor-assisted home sold for $ 215,000. While many people think they can save time and money by selling the home on their own, this is often not the case. They also usually don’t always understand the trials that come with selling your FSBO home. The profile of home buyers and sellers shows that the most difficult tasks for an FSBO are:
• Understand the housing market and list your home at the correct price.
• Understand the paperwork involved and correctly complete everything.
• Have enough time to devote to all aspects of the sale. This would be marketing the house, showing the house, answering phone calls and emails about the house, etc.
• Determine if they should spend extra money to prepare or fix the house.
• Sell the home within a specified period.
Buying or selling a home is usually the largest investment most people will make in their lives. Whether you are buying a new home or selling your existing home, a real estate agent can help protect your interests and potentially save you a substantial amount of money. We have compiled a list of benefits for both buyer and seller.
Reasons to use a real estate agent when buying a home
1. Generally, a home buyer is not required to pay the real estate agent. When a real estate agent represents a home buyer in the purchase of a home, the commission that agent earns is paid by the home seller. The commission is deducted from the sale price.
2. Real estate agents have access to the Multiple Listing Service (MLS). MLS is a real estate agent service provider that brings you the most up-to-date information on homes for sale in your area.
This service is not available to the general public. With MLS, an agent can find information about the home, taxes, how long it has been listed, price changes, special features of the home, etc.
3. Agents are knowledgeable about the area. A real estate agent should be able to tell you about the neighborhood, schools, activities, recreation areas, etc. that are available in the areas you want to buy.
4. Agents know how to negotiate with the seller on your behalf. Negotiating the price of a home can often be very difficult. In today’s marketplace, it is not uncommon to ask for closing costs to be paid, for repairs to be completed, home warranties or inspections to be completed. Often times, real estate agents can negotiate household items such as washers / dryers, refrigerators, or furniture in the sale of the property. Your job as a real estate agent is to make sure you get the best deal.
5. Agents keep the deal. Once your offer has been accepted, you will have many tasks that need to be completed in no time. Your agent can help you track and orchestrate all the necessary tasks in the buying process.
Reasons to use a real estate agent when selling a home
1. A real estate agent is worth the commission. Once you really consider all the things your agent will do for you from the moment the house is listed to the moment it is sold, the commission paid to that agent is usually money well spent. Often times, an agent will be able to help you sell your home much faster and for more money than you could afford on your own.
2. Agents understand the current real estate market. Choose an agent who lives in your area. This agent will understand the neighborhood, home values, area benefits, and local competition.
3. Agents know how to sell your home. This is their job, and just like any other job, if they don’t do a good job, they get fired. A real estate agent is a professional and must know what he is doing. It is often a good idea to obtain a history from agents before allowing them to sell your home. Selling any home requires experience, dedication and knowledge in this market. Your job is to attract buyers and sell the house.
4. Agents know what will make houses sell. Your agent will be able to advise you on what could be done with the home to make it sell faster. Anything from preparing the house to making minor repairs or improvements.
5. Agents will list your home on the MLS. A real estate agent has access to the Multiple Listing Service (MLS). This tool is only available to real estate agents and allows them to put your home in front of thousands of other agents and buyers.
6. Agents know how to market your home. Your agent will know what to do to market your home for sale, be it an open house, internet exposure, brochures, caravans, etc.
7. Agents represent you to the end. Your agent will represent you from the time the home is listed until the time the escrow closes. The job of an agent is to make sure that your interests are protected in the sale of the house and that everything negotiated in the contract is fulfilled. If a problem arises at or after closing, your agent is there to help resolve any issues.
