You know you want to sell your home. The only issue left to decide now is whether you sell it yourself or enlist a real estate agent to help you. This is always an important decision…but it’s even more so in the current pandemic. The logistics of selling a home today are multiplied as health and security have become even bigger priorities.
The value of real estate agents is that they know how to list and show homes safely. They also have extensive expertise on local guidelines and requirements.
The DIY route of selling your home yourself may save you a commission, but it often can cost you thousands of dollars. Take a few minutes to learn about the realities of selling your own home. Then decide for yourself whether the risks outweigh the rewards.
In addition to the safety factor, here are 5 reasons a real estate agent may be the way to go when you’re ready to sell:
- FSBO (For Sale by Owner) homes don’t sell as quickly, or for as much. Realtors are experts in current sales data and what works in their region. These are huge benefits when it comes to home selling strategies. Sales data from popular real estate websites aren’t nearly as reliable as a realtor’s. Plus, this data can often backfire if it causes you to list your home for more – or less – than it’s worth in the current market.
FSBO listings also stay on the market an average of 19 days longer than those who used a realtor. And they sell for $65,500 less (on average)!
- Realtors are well-versed in the terminology and negotiations needed when selling a home. A realtor can negotiate costs based on the estate information and data they have at their fingertips. They also know what has to be disclosed to a potential buyer – as well as how to disclose it – and carry insurance in case something goes wrong.
A homeowner trying to sell on their own is just that: on their own. This can result in money lost if the home sells for less than the price a realtor could have achieved or if costly litigation occurs during the selling or closing processes.
- Once in contract, a realtor works closely with all of the transaction’s parties to ensure everything happens as it should. The loan officer, title company, appraiser, property inspectors and others all have jobs to do during a transaction. A typical seller simply isn’t privy to all the details that must be tracked during the course of a home sale.
- A realtor can vet potential buyers. Realtors can require interested parties to become prequalified, or even pre-approved, for financing before they can view your home. Private sellers do not have the ability to require this. A lot of time can be spent on a potential buyer who wants to purchase your home, but isn’t qualified financially to do so.
- A property owner can only do so much marketing on the home themselves. Did you know that only 9% of home buyers find their property by calling on a sign they see while driving around? The vast majority find their homes on the internet with assistance from a real estate agent who has access to current and upcoming listings.
The Internet can show you how to do just about anything yourself…but that doesn’t mean you should! There are plenty of tasks that are better left to the professionals, and home selling may just be one of them.
When it comes to costs, market knowledge and negotiation strategy, the benefits of working with a real estate agent are plentiful. The stakes are even higher during a pandemic! Large dollar amounts and legal ramifications often detract sellers from going it alone.
Are you ready to sell but unsure where to start? Contact an American Pacific Mortgage loan officer to connect with our network of real estate professionals. You can even get pre-approved for your NEW home at the same time!