Often, people think that they can buy or sell a home without a real estate agent. They figure they can save money and handle everything themselves. In truth, it's a bad idea. Here are five reasons that buying or selling a home without an agent is the wrong thing to do:
1. Higher Sale Price - A real estate agent can get you more money when you sell your home. Multiple studies have shown that agents get higher prices for homes than people who sell on their own. Much of it is based in experience. They know how to price your home and stage it to get the highest price faster than you can do it on your own.
2. Lower Sale Price - They can get you a lower price as your buyer's agent. An agent will negotiate on your behalf to get you the best price they can. In fact, they're legally obligated to do their best by you. They'll look out for you and your needs. This will mean getting you the home you want at a great price and with the best terms.
3. Legal is Covered - Agents are trained to make sure that every legal aspect of a sale is covered. Not only do they take an oath to that effect, but their license is granted based on their understanding of the legal requirements of a real estate sale.
4. Connections - Knowing the right home inspector to call or whom to call at the city offices is a huge asset. A real estate agent's connections can make the process of selling or buying a house much easier and smoother.
5. Wisdom - It might seem strange to hire someone for their wisdom, but it can be a much nicer experience when there is someone there who's seen it all before. They can advise you what to buy and why to buy it. They can save you thousands of dollars or even keep you from buying the wrong house. Many of us think we want or need something from a house, but an experienced real estate agent can steer you in the right direction. It's like having a really experienced parent there to help you buy a home or sell one.
The reality is that not using a real estate agent is likely to cost you money and waste a lot of your time.
While real estate agents make a commission from a sale, they earn it by taking care of the things that you might not even know about.