Hiring a Real Estate Agent Vs. Selling It Yourself

Jun 19, 2013 by

Whenever you wish to sell your house, you are faced with a choice. You can either sell the property yourself or you can hire an agent who will organize the entire process for you and get you the best deal.

Selling it Yourself

Many people consider selling their house on their own in order to save the hefty commissions that estate agents charge in return for their services. But this process is not as simple as it looks and even if you have the legal knowledge required to follow through with this sale, it will still be a hassle.

Consider the problems you’d have to face if you went through it alone:

  • Even though you are willing to handle the legal processing yourself, it might be the requirement of the government that you must hire a lawyer to guide you. Hence, the expense that you wished to save by avoiding an agent will be spent on the lawyer.
  • An agent will observe your house and point out all the essential repairs that need to be made in order to make a good impression on the buyer. Being a novice seller, you might miss some of the important areas to fix, resulting in loss of good clients. Your agent will help you avoid such a situation.
  • When you sell a house, an agent usually tells you its market value. Based on this assumption, you decide the selling price of your property. Without an agent, you may misjudge the worth of your property. If you sell it at a low price, you suffer a loss but if you are trying to sell it at too high a price, you might not be able to find a suitable buyer for a long time.
  • Real estate agents have big data banks of clients to contact for sales and they have on-line websites as well where they can easily advertise their clients’ properties. You cannot have access to such sites without an agent’s license and thus, you might not be able to promote your sale in a similar manner.
  • Even though you may find a few buyers for your house that come to visit it, you might not be able to make as beneficial a deal as an agent would. It is due to their vast experience in real estate that they can easily separate qualified buyers from the rest.
  • Negotiations skills are very important when it comes to making sales. If you cannot negotiate effectively with the buyer, you will lose your sale.

Benefits of Hiring a Real Estate Agent

Consider the problems you might face when you sell it yourself and then compare them with the benefits of hiring an agent. A real estate agent provides his clients with all or most of the following services:

  • Making an estimate about the value of your property.
  • Analyzing your property to determine any repairs that need to be made.
  • Providing you with the best platform to advertise your home.
  • Creating advertising and marketing strategies to promote the sale of your house.
  • Using his database to publicize your house within the market.
  • Bringing you the best possible buyers.
  • Attending to the buyers when they visit your property.
  • Highlighting the positives of your home to the buyer.
  • Maintaining contact with potential buyers.
  • Negotiating the selling price with them.
  • Helping you in evaluating all the offers that are made for your property.
  • Legally finalizing the sale.
  • Drafting contracts and legal documents.

 

Hence, even though estate agents charge a pretty hefty commission, the services they provide encompass the entire selling process, making it hassle-free for you. In spite of legal knowledge, you will be unable to finalize the sale transactions in as profitable a manner as a real estate agent, because when it comes to their work, their performance truly is beyond compare!

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