Should you use a Real Estate Agent? Let’s think about this for a few minutes. Selling your home yourself may seem like a great way to save some money. However, there is good reason there are Real Estate Agents out there. They can help you avoid the possible pitfalls when you go it alone.
Here are 5 reasons you should consider before deciding to sell “for sale by owner” (also known as FSBO.)
Real Estate is a Full-Time Gig
Can you rush home from work every time someone wants to see you home? Can you market your home with credibility online and offline to get in front of qualified buyers? Can you leave your child’s soccer game at the drop of a hat to show your home?
These and more are reasons there are and people use real estate agents. The industry is set up to protect you and your home when you use an agent.
Things like lockboxes with security logs so we know who was in your home and when are at an agent’s disposal. You are still in control of approving when your home is shown through a showing service.
This is called leverage – you leave your home show ready in the morning, approve appointments by text/email/phone and then wait for the agent feedback! It’s a simple, efficient and effective way to show your home without stealing away your precious time!
Are Buyers Qualified?
When you list your home with an agent, they can help when it comes to ensuring that buyers – people who want to look at your home – are actually qualified to buy your home.
I have relationships with many lenders in the local area and can verify that a buyer who wants an appointment to see your home is able to afford it.
A For Sale By Owner seller has to take time out of their day to show their home but don’t really know if the buyer is qualified. This can be heartbreaking. It can also avoid looky-loos and nosy neighbors who just want to see the inside and have no plans to buy!
It takes asking the right questions and having the right connections to make sure a showing is to a qualified buyer.
As a side note, buyers (especially First Time Home Buyers) are uncomfortable touring at a home when the seller is present. They can’t truly appreciate the home and its possibilities for them or their family. Most will rush through the showing and maybe miss a feature or two they really want in their next home.
The seller’s presence just makes them uncomfortable! I mean they don’t want to act too excited about or disappointed in the home in front of the owner!
Feedback from Buyer’s Agents is key to the ongoing marketing the home, as well. These are a few good reasons to use a real estate agent.
Too Emotional About the Home
Most all of us love our homes. We see the memories and happy times we had while living there, as we should.
However, when it comes to selling your home – the market (buyers & their agents) – look at it as a product. No home is perfect, not even in a brand new build.
It’s hard for sellers to be objective and look at their home through the eyes of a potential buyer. They just become frustrated and on the defensive.
FSBO Seller’s are not usually proactive in the important “pre-listing” items that should be taken care of prior to offering it for sale. They overlook flaws that someone new will notice. This can impact the amount of an offer and/or the other terms of the sale a prospective buyer could make.
If you use a real estate agent, you are one step removed from the comments, demands and even criticisms of others.
Rejection is not fun and there always seems to be a lot of it in the world today. If you sell without an agent, there is no third party to bounce anything off of, it’s all you and during an emotional time anyway, that can make things doubly hard.
Negotiation – Use a Real Estate Agent
Every sales job is a bit different. So, even if you have experience with sales, negotiating on a home sale takes knowledge and education.
And, let’s not forget, since it’s your home, you are at a disadvantage due to having an emotional connection with the product, your home. This can definitely work against you.
Because you don’t live and breath the real estate market like an agent, you are also at a disadvantage with market conditions and pricing. This can cause you to leave money on the table! No seller wants that!
The bottom line is that to negotiate the sale of your home, you need someone in your corner who is working for your best interests but can also act as a buffer so you don’t make poor decisions from emotions.
Good agents are trained constantly and consistently, know their local market and will work their tails off to get you the best deal. You have better ways to spend your time and emotions!
Using a Real Estate Agent Opens Doors
A For Sale by Owner seller has more options in today’s world, for sure. You can manually list your home for sale with Zillow, Redfin, Facebook Marketplace, etc… However, it’s usually not enough to get your phone ringing.
We always say real estate is a relationship business and that is true of more than just the client – agent relationship.
Clients get the benefits of all the agent’s relationships.
Agents have relationships with other agents, lenders, title companies and their own sphere of influence. When you list with an agent, besides putting it on the local MLS, they tell people about your home. This opens many more doors to potential buyers!
In my experience, homes are sold more through those relationships than just from a listing on the MLS. If you sell your home yourself, you are ignoring one of the biggest sources for buyers – relationships.
Also keep in mind, you may not have Buyer’s Agents beating down your door to show your home like you would if it were officially listed with an agent. It is a tricky situation when an agent representing a buyer works with an FSBO seller. It can get sticky.
It wouldn’t be surprising if agents in general forgo showing an FSBO in favor of a home where the seller has qualified representation. Right or wrong, it happens.
And, even if you allow a Buyer’s Agent to show your home, you could be taken advantage of simply because they know the in’s and out’s and you don’t. Make no mistake, their primary obligation is to their client – not you.
Opinion
I used to color my own hair. Did I get the job done? Yes, but it looked like I did it myself. A professional would give it highlights, low lights, depth, etc… Mine just looked flat.
I decided I was worth spending the money on a hair stylist and having it look natural and great! It was definitely a boost in my confidence.
We have hair stylists, mechanics, plumbers, lawyers and real estate agents for a reason. Can we do some their jobs ourselves? Yes.
Do they do it better since it was what they were trained to do? Yes.
Use a real estate agent… Just my two cents…
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