Is it really necessary to hire a real estate agent to help sell your home? In some cases, this may not be necessary. According to a study that focused on for-sale-by-owner websites with an agent-assisted MLS listing, it was found that there was no significant statistical difference in the selling prices. Also, since most agents will take approximately three percent of the final selling price, sellers who don’t hire an agent for help may wind up coming out ahead – at least financially.
If your home is listed on the market with no listing agent, it is called “for sale by owner.” A FSBO listing is much more common today than they were in the past thanks to the array of consumer-facing platforms for listing real estate along with easier access to the MLS for all non-agents.
However, FSBO isn’t as easy as it may seem. Another study found that approximately 36 percent of all homeowners will try to sell their home with no agent, but only about 11 percent will complete the sales process alone. What this means is that only about one-third of all sellers who attempt FSBO will actually achieve.
Do you think you have what it takes to join sellers who can close FSBO deals? If so, keep reading. Some tips to find success are listed here.
The Role of a Professional Agent
Before you decide to opt out of representation, you must understand exactly what you are giving up. Some of the main duties of a listing agent include:
Helping You Determine a Realistic Price
If you use a local agent who has experience selling houses similar to yours, they need to know how to market properly. They also need to know how to interpret comps, recent sales patterns, or recent comparable sales. They should also take into consideration your motivations and objectives, like how fast you want to sell and help you determine a realistic listing price.
Getting Your Home Ready to Sell
The agent you hire will cast an objective, and critical eye on your home. They will work to identify issues that you need to address before you list or what discounts that should be applied to the listing price of issues.
The agent needs to help you prepare your home for being listed. Usually, this will include a systematic and thorough decluttering and cleaning prices along with strict rules to keep order while your home is on the market.
Listing and Marketing Your Home
Before your property is listed, the agent you hire should have professional grade photos taken of the interior of the home, along with the exterior. They will also create a description of your property to add to the MLS. If you are in a seller’s market, the agent may even shop the home around to various buyer’s agents to get bids before your home is officially listed.
Showing the Home
Your agent is the main point of contact and organizer of all open houses and home showings. They will serve as an intermediary for any buyer’s agents. If your agent is doing their job well, you will likely never have to see a potential buyer or even a buyer’s agent.
Help with the Closing Process
An agent will go with you to the closing. This is usually organized with a title company or settlement agent, and it may also involve a real estate attorney. For new sellers, having an agent at closing is a confidence booster that may help to reduce the possibility of potential legal issues or disputes.
Is FSBO Really the Way to Go?
As you can see, a listing agent does a lot. Without their services, you are going to have to handle all of this on your own. The best way to avoid all this work, time, and effort, is by finding and hiring a quality listing agent who is ready and able to provide you with the results needed for the selling process. Getting the best price can be challenging, so be sure to keep the information here in mind to make the right decision about how you will sell your home or property.