Buying or selling your home is one of the most important financial transactions you will ever make. One false step can leave you with regret that will last for years. Even if you know the market and understand real estate closing a real estate transaction on your own is often more difficult than you can imagine. Between negotiating the best price, collecting documents and getting everyone on the same page there is a lot of work that needs to be done. While you can certainly perform these tasks it is best to let a professional real estate agent handle them. Here are the top five reasons you should always use a real estate agent.
MLS Access. The multiple listing service (MLS) is the portal for most new property listings in your local market. Whether you are buying or selling the MLS allows other real estate agents receive new property alerts in real time. Without access to the MLS your property will not have the exposure to hundreds, if not thousands, of real estate agents in your area. This limits the demand for your property and ultimately the bottom line.
Market Knowledge. To become a licensed real estate agent you need to know all of the local laws in addition to knowledge about the local market. Real estate agents see market trends that nonprofessionals may not recognize. They understand comparable sales that can help you choose the best town or city to live in. A great home in a declining market will eventually lose value. You may think you are getting a good deal today but in a few years your value will be stagnant. A good real estate agent understands local markets and will help make the best decision not only for today but for the future.
Coordinate Showings.There is a lot more that goes into selling your home on your own than sticking a FSBO sign in your front yard. It is not enough to get your phone to ring. You need to make yourself available to anyone that wants to see the property. This is one of the functions that real estate agents perform. They will show the property on the buyers schedule and not their own. You never want to lose any potential buyer and a good real estate agent will make themselves available for showings at almost any time or day.
Negotiation. Dealing with seasoned attorneys or real estate agents can be difficult if you don’t have experience with it. In today’s market there is much more negotiation than in years past. No longer can you start with a low offer, wait for the seller to counter and meet somewhere in the middle. A real estate agent has your best interests in mind and will work to get the best possible deal. There are often several rounds of give and take and minor concessions that are made to get a deal done. Without this experience you run the risk of negotiating a bad deal.
Best List Price. The right list price is one of the most important aspects of selling a property. If you list too high your demand will be poor. If you list too low you are leaving money on the table. Determining list price requires examination of comparable sales, trends and current listings. A real estate agent understands this best and knows where to find the magic number. If you want your home sold quickly and for the highest price you need to consider working with a professional real estate agent.
A real estate transaction is too important to chance doing yourself. You wouldn’t let an amateur mechanic change your brakes and you wouldn’t let anyone build your home. Let a professional real estate agent handle the most important transaction of your life.