Why Use a Real Estate Agent?
Realtors carry E & O Insurance (This protects everyone involved in a real estate transaction). Some homeowners feel they can sell their homes themselves without the help of a real estate agent, in order to save the commission fees charged by an agent. The commission rate varies, depending on where you live or what agency the agent works for. Handling your own sale means you will be responsible for writing contracts, placing home for sale ads, answering phones and showing your home to potential home buyers who may not qualify to purchase your home. Home buyers who know you are saving on an agent’s commission may take advantage of this and offer less for your home, wiping out the financial benefit of doing it yourself.
Be aware that a real estate agent is an expert in home selling, and knows all about the business of selling. Here are some of the advantages professional real estate agents offer:
• They will help with establishing a fair asking sale price for your home by presenting you with a CMA on your home.
• The agent will list your property in the Multiple listing services (MLS). A multiple listing service is a book or a computer database that all real estate agents who subscribe to the service can access. Your home will get viewed by all those real estate agents, one of whom may have the perfect buyer for your home.
• They will create, pay for and place advertising for you.
• They will schedule appointments to show your home to prospective buyers even when you are not there.
• They will rule out the buyers who can not qualify to purchase your home.
• They can refer you to sources for insurance, inspections, legal counsel and financing.
• They will help you negotiate with the buyer.
• They can make suggestions to help make your home more attractive to a potential buyer.
If you decide to sell through an agent, make sure you pick one with plenty of experience. Talk to several agents before picking the one you will work with. Walk through your home and property with the agent to get to know the agents sales approach, and how he or she will handle prospective buyers. Ask prospective agents how they will market your home. Do not work with an agent just because the agent sets the highest asking home price. Ask what you will receive from the commission being charged ( marketing, advertising, open houses, etc.), as well as what the agent will offer another realtor as a co-op for bringing a potential buyer to you property. Negotiate the real estate broker’s commission fee prior to listing your home, and sign for a limited period of time—usually three to six months.
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