What do real estate agents do, and do I need one? If you have ever sold a home, that’s a question you’ve probably asked yourself. The “for sale by owner” (FSBO) may seem a great way to save money in commission fees that can run into thousands of dollars, depending on the purchase price of your home. However, there are reasons why you should think twice before acting as your own seller’s agent. Most likely, the benefits of working with an agent outweigh the risks.
What do Real Estate Agents Do?
While real estate agents show properties, negotiate and arrange sales, and complete contracts, they bring many skills to the table to help clients sell homes in as little time as possible.
Find the Best Price
Selling a home is an emotional process, and having an agent by your side can help you from making mistakes like overpricing your home or giving in to a low offer. A professional real estate agent will help you price your home just right so that it attracts potential buyers.
When buyer interest comes in, a realtor can follow-up on their communication without a sense of eagerness that may signal a willingness to accept a lower offer. Furthermore, if buyers back out, your agent can act as a buffer, so you don’t have to deal directly with rejection. Any advice your agent provides may be easier to hear because it’s coming from someone on your side who’s trying to get the best deal for you.
Use Listing Databases and Large Networks
When you sell your home with a real estate agent, they will list your property on the local Multiple Listing Service (or MLS) and other sources to expand their reach. Professional agents also have long-term relationships with clients, other agents, and real estate companies to bring the most buyers to your home. Not having enough people means lower demand, longer waiting times, and potentially a reduced selling price.
Keep in mind that if you are an FSBO, many buyer’s agents won’t bring clients to your property because of the hassles and risks of trying to close the deal without a professional seller’s representative.
Add Strategic Marketing to Expand Reach
Marketing is another essential tool a real estate agent uses to get the word out about client properties. From print flyers to websites and social media, agents rely on several platforms simultaneously to reach a maximum number of potential buyers. A real estate agent with the right marketing touch uses pictures and words to drive traffic to their properties.
Weed Out Unqualified Buyers
A professional real estate agent has the expertise to find out if a potential buyer is serious about making a purchase or if they are “just looking.” They ask qualifying questions as well as closing questions about how long they’ve been looking, if they’ve received loan pre-approval, and more. This training and skill set can be invaluable.
Real estate agents will also be present when potential buyers tour your home. Buyers can be uncomfortable when seeing a property with the seller present. They may rush through the house and may forget what they saw.
Negotiate the Best Price
Even though you may have sales experience, chances are you don’t have specialized experience selling thousands of homes. You can bet that your buyer’s agent comes to the negotiating table with experience and will be trying to get your home for the lowest price for their client.
Having an experienced seller’s agent by your side helps you get top dollar for your property. They know the housing market and what’s driving demand, which gives them an advantage for knowing what terms are worth negotiating and which ones are worth letting the other side win.
Reduce Exposure to Legal Risk
Every home sale requires a lot of legal paperwork, and it must be completed correctly by an expert. One of the most important legal documents for a home seller is the seller’s disclosure. If not filled out correctly, the seller can be held liable for negligence, fraud, or breach of contract.
When you work with a real estate agent, they will make sure that you’ve disclosed hazards, nuisances, and defects.
The Bottom Line
Selling your home may be one of the most significant financial transactions of your life. Having an experienced agent by your side has many advantages:
- Determine the best price
- Expand your reach and exposure
- Negotiate a better deal
- Dedicate time to your home sale
- Steer around legal pitfalls
The Sarah Bernard Real Estate Team Puts Your Needs First
A real estate agent should think about your needs and put you first every step of the way. The Sarah Bernard Realty Team is an experienced team that can help you get your house sold in as little time as possible! Contact us online or call (317) 780-9070 for a complimentary consultation!