A guest article by David Allen. A 7 minute read
If you're planning to sell your property, one of the first and most important decisions you'll have to make is whether you'll hire a real estate agent or not. Even though selling a property is a complex and time-consuming process, many people are still reluctant when it comes to paying commission for agent services. Some homeowners simply prefer to go solo with their home sale, although they often realize that they've made a terrible mistake. If you want to avoid the risks of many complications along the way, you should consider the reasons why selling without an agent is a recipe for disaster.
You don’t have home selling expertise and knowledge. If you want to sell your home quickly and for top dollar, you'll need a local agent with experience in selling homes such as yours. The most important factors why people hire a real estate agent are:
Agents have experience in the local market and specialized knowledge, which is priceless.
You need valuable professional advice.
Sellers usually pay a commission to their chosen real estate agent at the closing after all the important work is already done. If you know anyone who has recently sold a home, you may ask them if they find an agent's services valuable and worth the money.
Real estate agents sometimes offer certain perks at no additional cost. Those may include the services of a professional photographer, staging advice, some home improvement tips, etc. All these extras can make your home sell more quickly and for a better price. Also, agents have a vast network of clients and other agents. That can prove helpful in bringing more potential buyers to look at your home. Years of experience guarantee that your agent has valuable connections in the industry, and that's exactly what you need.
If you hope to do it all on your own, you’ll lose a lot of precious time.
Most sellers simply don't have time to lose, and that's the main reason to hire an agent. It takes a lot of time to schedule and manage appointments. If you have a very demanding job and you don't have a lot of spare time, you can rely on your agent every step of the way. While you're on a business trip or a vacation, they can handle showings and negotiations, so you won't have to turn off any potential buyers. It also takes a lot of patience to respond to agent and buyer questions, concerns, and objections professionally. Trying to do everything independently and selling without an agent may significantly prolong the home selling process.
Selling without an agent means you'll have to manage showings and handle negotiations.
All your marketing strategies might be in vain.
Most sellers don't know how to successfully market their property. To be able to do so, you need to be familiar with the buyer demographic for your neighborhood. You need to know how to target and reach prospective buyers. When it comes to effective marketing, an experienced real estate agent is your main ally. They know the best ways to reach and appeal to a targeted group of buyers. Also, they have access to predictive analytics, and they know how to strategically promote your home. They can make the best use of traditional as well as modern (online/social media) marketing methods. With the right marketing campaign, you will be able to attract lots of buyers.
The closing can become a nightmare.
The agent's role is crucial during the closing. Closing implies signing a lot of paperwork and dealing with complicated terminology. A real estate agent should be there to help you with all the paperwork, double-check the legal matters, and answer any questions you might have before you sign the documents.
Closing documents can sometimes be very confusing, so you need an expert by your side.
It can prolong the process of moving to another home.
Another reason why selling without an agent is a recipe for disaster is that it can significantly prolong the process of moving to another home. If you don't set the right price for your home, don't stage it properly, and don't invest in a successful marketing campaign, the selling process may postpone other planned events in your life, such as buying another home and moving there. You may not be able to concentrate on many important tasks ahead of you, and you may even end up selling your home for a much lower price than its actual value.
On the other hand, if you hire a reliable real estate agent, the whole process will be much smoother and probably faster as well. After the closing, the real estate agent will explain when you should have the house vacant and what the condition of the house should be when you are moving out. Meanwhile, you should also find someone to take care of everything related to your relocation. If you hire full-service movers, you can rely on them for packing, furniture dissembling, storage solutions, safe transport of your items, and much more. Then, you'll finally be able to relax knowing that your belongings will be safely transferred to your new property with utmost care.
Selling a property is not as easy as it may seem at the start. Finding the right buyer and getting the price you want requires a lot of patience and confidence, and selling without an agent is a recipe for disaster on many levels. If you have an experienced agent by your side, you'll be able to minimize the stress that occurs during the sale process. Also, you'll avoid many risks along the way.
Jason Gelios is a Husband and Father. After that, a Top Producing REALTOR®, Author of the book Think like a REALTOR®, Creator of The AskJasonGelios Real Estate Show and an Expert Media Contributor.