We’re in the digital age, and that means with the right app or website, we can DIY many tasks that previously were not possible. It’s no surprise, then, that many people feel they can buy or sell a home on their own.
We’re here to tell you that’s not a good idea. Buying or selling a home is likely the biggest financial decision of your life, and shouldn’t be taken lightly. For something so important, you need a real estate professional to represent you.
Here are five reasons why.
- You’ll Make More Money Working with a Pro
That might seem counterintuitive because the reason some people choose the “for sale by owner” route is to save money by avoiding sales commissions. But a recent study shows that homes sold through real estate agents sell for an average price that is 30% higher than homes sold by the owner.
Remember, you’ll likely have to pay the buyer’s agent anyway, so getting 30% more out of your house should leave more money in your pocket even after paying realtor commissions.
And if you’re the buyer, why not use a real estate agent? The seller’s agent pays the commission for your realtor, so there is nothing to lose. And as we’ll see, there’s plenty to gain.
- You Need an Expert on Your Side
Sure, you can check the “homes for sale” listings online and in the paper. But do you know what an EIK means? How about a W/D?
Recognize that real estate has a language—one a reputable realtor speaks fluently.
What’s more, your transaction is going to include a lot of documents, forms, reports, and disclosures that have serious legal ramifications. Good agents not only understand what the documents represent, but they can also communicate to you everything you need to know about the process.
Just as importantly, realtors can draw up the best offer and help secure a great deal while helping you avoid legal pitfalls.
- Realtors Have Access to More Listings
Buyers can search the plethora of online real estate listings and find several homes they may be interested in. But guess what? Real estate agents have even more access to property listings hidden to the public.
Also, many realtors specialize in specific neighborhoods. They often know of homes for sale before they hit the market.
Working with an agent is the only way to get the first jump on such homes and get your offer in before your competition. To get started, simply search for “best realtors near me.”
- Realtors Have a Fiduciary Duty to Serve Your Best Interests
When you work with a realtor, either as a buyer or seller, you can rest assured that your agent is working on your behalf. They have a fiduciary responsibility to you, which means they are legally obligated to put your interests first.
One of the benefits of this duty is that it comes with a high standard of confidentiality.
Would you be comfortable turning over important financial details to an FSBO seller who is not required to keep your information private? Even if the seller has an agent, that agent only has a responsibility to his client, not to you. Working with an agent should protect you from giving any unnecessary information to anyone.
- Real Estate Professionals Are Savvy Negotiators
Unless you negotiate regularly for a living, you likely don’t have the same negotiating chops as an experienced real estate agent. They know from experience what works and what doesn’t.
And because of their fiduciary duty to serve you, your agent’s job is to get you top dollar for your home or help you buy a home for less than you could on your own.
The Bottom Line About Using a Professional Real Estate Agent
Sure, you could go it alone. But why?
If you’re selling your own home, statistics show you’ll sell your house for more money by using a real estate professional. And if you’re a buyer, you’ll have access to more homes and a skilled negotiator to represent you, all on the seller’s dime.
Check back often for more helpful content as we publish new articles daily.