If selling your DeLand home is in your near future, you might be questioning whether you should use a real estate agent. It is possible to sell your home without using an agent and go the “for sale by owner” route. However, FSBO is not always the best way to go about selling your house. Here are seven reasons why using a real estate agent is almost always your best choice when selling or even buying a home.
Reason #1 – You May Still Be on the Hook for a Commission
One of the top reasons why people choose trying to sell their homes on their own is to save money. Yes, when you hire a real estate agent, you are responsible for paying a commission. Typically, the commission is 6%. The seller’s agent receives half, and the buyer’s agent receives the other half. Even if you do not have an agent, your prospective buyer may have one. You would be responsible for paying your buyer’s agent a commission, not the buyer.
If you happen to be buying a home, there is no reason to skip having an agent working on your behalf. You are not the person paying their commission.
Reason #2 – Your Listing Has More Exposure
When you hire an agent, your home listing is more likely to have more exposure than one that is FSBO. Yes, you can pay to list your home on your local multiple listing service for a flat fee. But unlike with a realtor, you will still need to do all the other work on your own because all you get with your flat fee is a listing. A professional agent will know where and how to market your home and take photos that portray your home at its best. They also network with other agents to build interest in your home.
The agent will also be responsible for showing your home to prospective buyers and holding open houses. This means you do not have to be available to show it or wait around waiting for a buyer to arrive. Keep in mind that many buyers’ agents prefer not to work with FSBO homes.
Reason #3 – Your House Could Sell for More Money and Faster
According to the 2017 Profile of Home Buyers and Sellers published by the National Association of Realtors, only 8% of home sellers chose to go the FSBO route. This study also showed that the majority of FSBO homes netted 30% less for their owners than those listed by an agent.
An experienced real estate agent knows the market. Therefore, they know how to price your home when it is listed because they know current market conditions and have access to lists of comparable homes in the area. Your realtor can help you set the best price for your home and recommend specific home improvements that buyers in DeLand are looking for. They also have lists of potential and typically qualified buyers who are prepared to buy.
Reason #4 – Exceptional Real Estate Agents Put Their Clients First
In some states, your real estate agent would have a fiduciary duty to put your best interest first. But that’s not true in the state of Florida. Here in the sunshine state, it’s assumed that real estate agents are transaction brokers. Meaning that they aren’t “required” to put the customer’s best interests first. The difference is that an exceptional real estate brokerage, such as Palmetto Realty, will always put the customers first, whether they’re legally required to or not.
Now, your agent is legally obligated to keep your financial information confidential and will only share the necessary information with the other party’s agent if it is a reasonable request. Clients do have recourse if they find that an agent has misled them, lied to them, or disclosed their confidential information. They can report the agent to their professional association, such as the West Volusia Realtors® Association.
Reason #5 – Agents Keep on Track with the Paperwork
There is a lot of paperwork involved with selling or buying a home. Most purchase agreements are at least 20 pages long without adding federal, state, and locally-required documents. Your real estate agent needs to stay on top of every step of the sale or purchase of your home. This includes making sure that:
- The buyer is able to secure financing in a timely manner.
- Contingencies or penalties are provided in case the purchase cannot proceed.
- Inspections are conducted, and deficiencies are dealt with before closing.
An agent keeps watch on all the paperwork and the details of selling or buying a home. They will remind you of critical deadlines and keep on top of missing information to prevent problems during the selling/buying process.
Reason #6 – Cuts Down on Emotionally-Based Decisions
Selling or buying a home is a major milestone in many people’s lives. It can be a very emotionally charged time, especially if you handle the negotiations when selling or buying a home. Agents help you prevent making emotionally charged mistakes when selling your home, such as:
- Overpricing your home
- Feeling pressured to accept an offer
- Refusing to consider a lower offer
Real estate agents act as a buffer between sellers and buyers. They will deal directly with the buyer’s agent instead of you having to deal with rejection and criticism of your home if a buyer is not interested.
Reason #7 – Agents Know What They Are Doing
Realtors are in the business of selling homes and have no time for nonsense. They are trained to determine whether a potential buyer is motivated, serious, and qualified to purchase your home. They are also skilled negotiators and know what terms of sale are worth negotiating for and which are best to let go.
Most FSBO sellers may not be skilled negotiators. It is too easy to let emotions get in the way during the negotiation process, especially if a buyer is making an unreasonable offer or request. A professional agent can handle these issues in a professional and less emotionally charged manner.
Whether you plan to sell or buy a home in the DeLand area, you should not go at it alone. The experienced real estate agents at Palmetto Realty are ready to assist you with what could be one of the most important decisions you make during your lifetime.