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The Great Debate Should You Use a Real Estate Agent or Sell the Home on Your Own

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Date : November 23,2013
By : Chaleigh Glass

Are you debating whether to put a “for sale by owner” sign in your yard or hire a professional agent? If you’re looking to cut the costs of selling a residential property, one of the obvious considerations is to keep the commissions in your pocket by listing the property and marketing it on your own. While you can legally arrange a purchase contract with a buyer or a buyer’s agent, it’s not always in the seller’s interest to do this. While it is a great debate with proponents arguing for and against hiring real estate agents, in the long run it’s best to hire a professional for such a huge transaction. Here are 3 reasons why you should have a licensed agent by your side.

You Don’t Pay Commissions Until the Agent Delivers

When you hire a real estate agent to list your property, you sign a contract that states that agent has a specified period of time to deliver on their promises. If the agent cannot deliver within the 1, 3, or 6 month time frame you give them to bring you quality offers, you can look for a new professional who is dedicated to targeting the right clientele. You can’t do this yourself if your marketing tactics aren’t successful.

Pricing Your Home Right For Attention and Less Time on the Market

Firms that sell real estate in Los Angeles have one or multiple agents who are experts in different neighborhoods throughout the city and surrounding cities. This expertise of the area and the market will pay off because the agent will know what the value of your home is, based on the current market. You could be blinded by your own personal interests and set the listing price extremely high, leaving your property stale on the market for long periods of time.

If you don’t price your property right, competing in a market with a huge inventory is difficult. Just 3 years ago, Zillow reported that 23 percent of listings resulted in price cuts. This caused properties to stay on the market longer than necessary, raising the amount of money the owner was forced to spend out of pocket for upkeep. By working with a professional, you can learn about the pricing strategies that work and use these strategies to spark interest and get offers quickly.

Using the Right Marketing Channels

Buyers and buyers agents don’t just know that a property is for sale. You’ll need to market the property on platforms that buyers will look. As a seller, you can’t use the Multiple Listing Service to promote your listing, but you may be able to hire a broker to post the listing to the MLS for a fee. You’ll also need to use other platforms for more exposure in magazines, classifieds, or social networks. Agents are professionals in real estate marketing, and the money you save may actually pay the commission in and of itself.

You’re attached to your home, and selling your own property opens you up to hearing criticism on the property you cherish. To save yourself the negativity, the hassle, and the stress, hire a agent who will perform. Choose an expert marketing who is creative, motivated, and who is also honest.