With the vast amount of information readily available on your fingertips on any topic related to the buying and selling of properties, it is not far-fetched to convince yourself that you can do the entire job yourself. Many a sellers and buyers develop this train of thought and try to do the job of a professional real estate agent themselves, and more often than not, pay the price. It is also worth mentioning here that not hiring an agent does not always lead to a bad deal, but the stats prove that the odds are much likely to be higher when an agent is in charge of this process.
Benefits of Hiring a Real Estate Agent
As per estimates, almost 90% of sellers use a listing agent to sell their property. The typical 6% commission the seller must pay can add benefits in selling their property in the long run. Let us discuss some points that a seller should consider before deciding whether to hire a real estate agent or not:
Better Networking and More Opportunity – An agent works full time as a link between buyers and sellers in a particular area and has all the knowledge of all properties listed by other agents or agencies in that area. This means he or she will have a better chance at finding the right buyer or seller as compared to someone who has just entered the market looking to make a sale.
Real Estate Market Experience
Hiring a real estate agent means you will have someone working for you who has a deep knowledge about the real estate industry. They will more be more likely to be abreast about all the changes taking place in the real estate market of a particular area which is not something you can hope to learn overnight. They can give you accurate information on things like average days on market, median sales prices in your area and other important factors such as average per square foot cost of comparable homes in your local area. All of this leads to a greater chance of you getting a better price for your property.
Better Negotiating Skills
Let’s be honest, negotiation skills are not something that come naturally to most people, and in the real estate industry, these skills go a long way in making or breaking a deal. For example, a potential buyer might not be able to express his or her discomfort seeing something in a property that has only a few minor hiccups and might fear to insult the owner. An agent will deal with such a situation by conveying the buyer’s feeling appropriately to the seller and help negotiate a price that would cater the cost of those minor hiccups.
Properly Pricing Home
Getting an accurate price estimate that keeps all market factors in view is the single most important thing one can do while selling a property. A good agent will be of great value in doing this, helping you to analyze and provide comparables that can guide you in setting a realistic price for your property.
Professional Real Estate Agent
Hiring a professional real estate agent to work on your behalf can have numerous benefits. Their experience and knowledge in the industry can help guide a buyer or seller in the right direction when making decisions that can affect their bottom dollar. Real estate agents are skilled in writing and reviewing contracts, and are familiar with conditions that should be used and met in protecting the buyer or seller. Real estate agents are also licensed to act in the best interest of their clients and must uphold the code of ethics.