02 Jul Advantages of Hiring a Professional Real Estate Agent
With the vast array of online services available to help buyers and sellers connect and close a sale, homeowners may feel inclined to take the proverbial bull by the horns and do the hard work of selling their property without being represented by a real estate agent. Though tempting, the allure of saving on commission fees can be deceiving. As stated in NAR’s 2018 Profile of Home Buyers and Sellers, FSBO homes typically sell for less than other homes; FSBOs sold at a median of $200,000 in 2018 — up from $190,000 the previous year but still signiﬁcantly lower than the median sales price of $264,900 for agent-assisted homes.
Often, sellers who forgo using a real estate agent are still not completely free from paying a commission on the sale. Generally, if their homebuyer has an agent, the commission fees of the buyer’s agent will be deducted from the seller’s proceeds at closing.
A reputable agent’s ability to sell homes for top dollar certainly isn’t the only reason to enlist an agent. Here are some other ways a good Realtor can assist in the home-selling process:
Real estate agents understand the ins and outs of the local market and can help sellers choose the right asking price based on a range of data points, such as the average per-square-foot-cost of similar homes, median and average sales prices, average days on market, and ratios of list-to-sold prices. Keep in mind that the longer the home sits unsold, the more negatively it is viewed. With expert guidance, sellers can ask the right price from the start and not have to chase the market down.
A good agent will market a home aggressively and bring more buyers in the door. In fact, some people in the market will only look at houses shown by an agent, which allows sellers to tap into that network of qualified buyers and increase showings. Similarly, working with a real estate agent will grant your home access to the Multiple Listing Service (MLS), which typically translates into more traffic and offers.
It is no secret that there is a lot of paperwork to navigate at a home closing. Since agents handle these types of papers on a daily basis, they can guide the seller through all paperwork in an expeditious manner. The agent will also be able to negotiate counter offers and assist you with more addendums and property-specific conditions that you may wish to build into the purchase contract.
Real estate agents can walk you through staging techniques to make sure your house looks its best. In addition, agents have a keen eye for problems that often go unnoticed by even the most meticulous homeowner. They will recommend repairs they believe are needed as well as improvements that will increase your home’s value and yield higher offers. Your agent’s experience will be especially useful when it comes to knowing the local trends and how other homes with the desired features are selling.
In short: professional real estate agents not only sell homes faster than most FSBO homes, but agents also help the seller negotiate a higher price and make the process less of a headache. Looking for a Realtor in your area? Click here to find one near you.
At Fairway Independent Mortgage Corporation Fort Lauderdale, we’re happy to help. For additional questions and support during the homebuying process, contact one of our loan officers today!