Selling a home is one of the most important financial decisions people make in their lives.
But despite that, many are hesitant about hiring a realtor, as they don’t want the commission for the service to take away from their earnings after the sale is made.
However, with FSBO (For Sale by Owner) transactions at an all-time low and homeowners often having to settle for less than 30% of what realtors can get for similar properties, the financial incentives of hiring a realtor are quite apparent.
Let’s look at some of the most significant benefits that will clearly show you why you need a realtor.
Accessibility and Resources
Why use a real estate agent? Well, first and foremost, we have to point out that real estate agents are full-time professionals who are fully immersed in the industry.
That means that you not only get to take advantage of their years of experience, but also gain access to the professional tools that real estate agents have at their disposal to help that hunt for the best opportunities to sell your home.
Real estate professionals have access to a wide range of tools, including insider access to market statistics, marketing and advertising resources, and a powerful network of connections that can help you make the most out of your listing.
If you were to try to sell on your own, you’d have to spend hours on listing sites, as well as communicating with prospective buyers or their agents, not to mention having to immerse yourself in the process to make sure that you get a fair deal. And even then, all the time and effort you invested would probably not be equal to the access and reach that a real estate professional could offer.
Negotiating and Contracts
Another compelling answer to the query of why use a realtor is the fact that once offers start coming in, you’ll need someone on your side who knows how to get the best deal possible.
When selling a home, you often have to deal with real estate agents representing buyers, or experienced buyers themselves, that will do their best to gain leverage and get the price down from what you’re asking.
Meanwhile, if you choose a realtor to represent you, they can make sure that you don’t get duped and that your interests are being represented throughout the sale process.
What’s more, having a realtor represent you can save you a lot of stress and help avoid confrontation with buyers. Agents can hammer out the details in a professional fashion, and you can avoid losing a prospective buyer because of the negotiation experience going sour.
Market Knowledge and Experience
Many homeowners think that they have a pretty good understanding of the value of their home. But while that may be true, the knowledge probably can’t compare with the insights and experience accumulated by real estate professionals over the years on the job.
A realtor will consider aspects of your home that you wouldn’t have known how to calculate, such as the history of sales in your area, comparable home sales, and the movement of the market as a whole. That’s why even if you’ve sold homes before, you shouldn’t look at a realtor as someone who will take your commission, but rather as an asset providing you with in-depth knowledge and lessons from past experiences that you can use to make the most out of your situation.
So, if you’re asking,"why should I use a realtor?”, the simplest answer is that they can provide you with peace of mind knowing that you aren’t missing out on key information regarding the sale, and won’t be vulnerable to mistakes or oversights that could significantly lower the bottom line of the sale.
The Cons of FSBO
When weighing why to use a realtor to sell your home, it makes sense to weigh your other options. If you choose not to hire a realtor, your listing will be categorized as FSBO, or For Sale By Owner. As we mentioned earlier, FSBO listings often struggle and are sold for significantly less than listings handled by professionals. The biggest con to undertaking FSBO is the pricing and positioning of your home. Even if you deduct the commission that the realtor would take, it’s likely that their resources and knowledge would allow you to get a much better price.
Sure, you could slap on a higher price yourself. Still, a realtor has invaluable knowledge of whom to contact and how to position your home to attract the buyers that are the most likely to be interested. Without the connections and experience of a realtor, the most likely scenario is that your listing would end up sitting for months without garnering much attention.
Finally, when thinking about why chose a realtor to sell your home, consider the investment of time that selling a home involves, not to mention moving out and settling in your new home. Selling a home is not just about taking some pictures and posting a listing. To sell on your own, you’d also have to pursue buyers, answer calls and emails, prepare the house for showing, dedicate time to showing the house, and negotiate the terms of the contract for the final sale.
Simply put, selling a home is a full time job, made all the more challenging if you come at it with little prior experience. Chances are you already have a job, and have enough on your plate without taking on the stress of selling your home independently. Realtors sell homes for a living: it’s meant to be their full time job for a reason.
Your Needs Are Put First
Why work with a realtor? We have one more crucial answer for you to consider.
One of the most important reasons to use a realtor is that, in most states, professional realtors are bound by law to put your interests first. Their code of ethics demands your needs precede even their own, and that work to get you the best deal possible in all circumstances.
The vast majority of reputable real estate agents base their business on referrals, which is why you can trust them to make the decisions that serve your best interests, allowing you to relax and not have to worry about the sales process.
With all this in mind, "why hire a realtor?" should be a no-brainer. The reasons to hire a realtor are simply too compelling to be ignored.
If you want a real estate agent that will have your best interests at heart in Philadelphia, look no further than Main Line Homes—we can help you sell your home for the best price possible and guide you through the entire process. Call (610) 642-3744 today to get started!
Janis Peterson, REALTOR®, GRI, ABR, SRES, CSP
Main Line Homes Luxury Real Estate Agent
Keller Williams Main Line
Suburban Square
6 Coulter Ave
Ardmore, PA 19003
Direct: 610-642-3744
www.mainlinehomes.com
Janis@mainlinehomes.com
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