Why a For Sale by Owner Can Cost You Thousands
We know it sounds like a win if you can sell your home without a real estate agent and avoid paying agent fees. You’ve heard the stories of people who’ve successfully sold their home without a real estate agent, and you may be considering trying it too. But, selling your home without a real estate agent to represent your interests can cost you thousands. For those deals without agents, the truth is they could have left thousands of dollars on the table.
What a Real Estate Agent Offers
Negotiate on Your Behalf
A real estate agent is on your side protecting your interests. It’s their job to make sure you get the best deal possible. They’re trained to negotiate real estate deals to benefit their clients. A real estate agent also keeps up-to-date on market trends including comparable home offers in your neighborhood. They have relationships with other real estate agents and work with other industry experts to get you the best deal. According to the National Association of Realtors in 2017, 87% of homebuyers used an agent to purchase their home. That means that hiring an agent that has an established relationship with those 87% places your home in the forefront of the Real Estate community.
Protect Your Interests
Your real estate agent works for you! Selling a home means meeting deadlines and legal requirements. It’s your agent’s job to ensure that all those requirements are not only met but accomplished with your interests in mind. When you do for sale by owner, you’re responsible for hiring the right people, completing the correct paperwork and following the right procedures for the sale process.
Familiarity with State Contacts
Most states have a standard real estate contract for resales. A real estate agent has researched and understands the details in the contract. Most real estate agents also have attorneys they work with to help with any legal issues that arise from the contract. If you’re not a legal expert, you’ll likely have to hire an attorney to help you review the details of the contract. That costs money you won’t need to spend if you hire an agent.
Determine the Correct Price
On the front end, your real estate agent helps determine the right price for your home. Even in a strong seller’s market, if your home is priced too high it could sit on the market longer than necessary. If it’s priced too low, you could miss out on extra money. A real estate agent will price your home accurately to help it sell for the best possible price in the current market.
Your real estate agent’s commission is their payment for the work they do to sell your home. This includes marketing your property. You don’t pay a separate fee to list your property on over 425+ websites along with the Multi Listing Website as well as, design and print materials
or advertise. You aren’t charged more when your agent hosts an open house either. They don’t receive income for all of the work they do to prepare and promote your home until your home sells. Marketing costs add up quickly, if you’re selling your home without an agent, this is a cost you must pay.
Save Yourself the Hassle & Hire an Agent
Selling a home without a real estate agent to protect your interests may sound good on the surface. You could save up to 6% in commission fees. However, it costs money to sell a home including the cost of your precious time. From staging to pricing to marketing, a real estate agent is the expert at positioning your home to look its best so that you receive the highest possible offer. Don’t leave money on the table, hire a professional real estate agent to sell your home.
If you’re selling a home, contact the real estate experts at The Rivera Group to schedule a free consultation, 302-346-2719 or email us at TheRiveraGroupDE@gmail.com. Connect with us! TheRiveraGroup on Facebook