Buying or selling a property on your own can be done but it is an ordeal that would be made a whole lot easier if you had a real estate agent on your side. Real estate agents commissions may seem high and that is why most choose to try it on their own first, but real estate agents more than earn their money. Real estate transactions are rarely simple and these are some of the common mistakes that happen when you sell on your own.
Determining the Price
Do you know how to look at the comps and set the right price for your house? An agent not only has access to that information but know how to price to sell. Whether it is to create a multiple offer situation or just to move it quickly they have the right strategy. If you are a buyer then they can help you find homes within your budget, rather than you wasting time going through hundreds of listings.
Helping You With Mortgage Options
Most people don’t look beyond their own bank when it comes to getting a mortgage whereas a real estate agent can put you in touch with a mortgage broker who can give you options for financing your home.
Having the Home Inspected
If you are moving to a new town and looking for a house an agent can help you get into the right neighborhood. They also make sure that there is a home inspection done on the property and will advise you not to buy if the house isn’t structurally sound.
Negotiating on Your Behalf
Agents negotiate for a living so if the other party has an agent, then they are in a better position than you are. The opposing agent can and will exploit your lack of knowledge when it comes to real estate. It is their job to negotiate the best deal possible for your client. If negotiating isn’t your strong suit then you could potentially lose thousands.
Agents Don’t Show FSBOs
When your home is listed with an agents, other agents will also show your home to home buyers. It is like having all agents working for you at once. However when you sell on your own your “For Sale by Owner” property will be completely ignored. They have no incentive to show your property to their client base so your home will be ignored by every realtor in town.
Your home has sentimental value to you, it doesn’t to your realtor. You can ignore the flaws in your property because you have good memories there, whereas your realtor won’t. The will tell you exactly what you need to do to your property to get the best price possible.
A real estate agent is invaluable when it comes time to buy or sell a home, you will have a much easier time with the whole real estate transaction when you have one on your side.