Some homeowners think that selling their home themselves will save them money, but underestimate the amount of effort, time and cost that will be involved and quickly discover that they need exceptional negotiating skills, legal notions and real market knowledge to sell their home without a real estate agent.
Here are some arguments that show that the use of a real estate agent far outweighs the price of the commission;
1.- Realtors have access to large advertising networks
And as a realtor, we are in contact with buyers and have contacts who are kept informed of our new listings on the market, and are quickly notified about the properties we have just added. Even if the homeowner believes he has an extensive network that will share his property, it will undoubtedly be a much smaller group of potential buyers, which will make the homeowner wait longer to sell his home.
Agents represent the activity of selling a home
Selling your own home is an emotional process and hiring a real estate agent to represent your interests will keep personal feelings at bay. With an agent, therefore, the seller is less likely to make mistakes, such as overpricing, being offended by offers that are too low, or maximizing his or her negotiating position.
As a real estate professional, we will communicate with potential buyers on behalf of the seller without the eagerness, desperation or lack of cooperation that may arise in a direct sale situation on the part of the owner.
Without being represented by a real estate agent, sellers will also have to deal directly with rejection, disappointment and negative feedback. An agent can present these things in a constructive way, advising and discussing options, but also finding answers with the seller who will be in a less emotional state. Selling a home always involves a certain degree of emotion, but it will be easier with an agent who represents your client’s best interests and is on the seller’s side. An agent is the catalyst that separates the emotional attachment to the home from the act of conducting business.
3.- Real estate agents add value
If someone sells a home without an agent, the costs of improving the property, photo or video shoots and marketing costs are the responsibility of the seller. These expenses vary according to the stakeholders involved, their levels
and the expected final representation. Vendors should not forget that it takes time and effort to organize open houses and visits by appointment. And that it is necessary to calibrate visits to your schedule, between work hours and everything else. There will also be a flood of inquiries, often by unqualified prospects, i.e., people who are simply curious to see the inside of the house.
But, for most sellers, going through an agent to take care of all these things is worth it. At Arena Projetcs we will help you show your home to potential buyers, take photos, record videos with high quality renderings and list your home on multiple listing services (MLS) and listing portals. Open houses, appointments to visit the property and consultations with potential buyers will be scheduled on their own time, so sellers do not have to take time off work and
reprogram their lives to show ownership.
4.- A real estate agent knows the legal aspects of a real estate sale
Sellers who are not familiar with the laws, terminology and the process can
find themselves in legal difficulties if they do not do it correctly. In some countries, some jurisdictions have specific regulations for selling a house and may not even allow you to close the sale without the presence of a lawyer. As a real estate agent, we will lead discussions and negotiate commercial transactions between agents, escrow services, technicians, attorneys, inspectors and all the steps mentioned above. A real estate agent knows the legal aspects of a property sale. Therefore, by calling us, the seller ensures that he will not end up with legal proceedings.
5.- Being a real estate agent is a full time job
Often, sellers who want to sell their property do not take into account the price they pay in other areas. The time spent and lack of experience can cost you a lot in the end. If a seller cannot take off work every time a buyer wants to visit their home, if they have to cancel or postpone their commitments to find time to negotiate and sign documents, their property remains on the market longer than it should and this may lead buyers to suspect that something is wrong with the home. But also keep in mind that this is going to cost the seller money because the longer the house stays on the market, the less likely it is to sell overall.
A real estate agent spends time and energy selling their clients’ properties.
It is for these reasons (and many others) that the use of a real estate agent means that the seller benefits from the
service of a full-time professional. A real estate agent will offer the seller advice on the development of their apartment or house, advise them on the best listing price, find and qualify potential domestic and foreign buyers, and handle inquiries, viewings and offers. Agents work long hours, including evenings and weekends, to sell the products entrusted to them at the right price in the minimum amount of time. Real estate agents know the market, recognize buying trends and understand the legal standards of the real estate market. When a seller hires a Realtor, they benefit from the sales experience that has been gained through a full-time commitment to the profession, something that an amateur salesperson could not match.