Selling your home without a real estate agent may sound tempting, especially when the thought is to pocket the money from what would have been your agent's commission fees. However, the truth of the matter is not using an agent can often cause you to lose money--a lot of it.
Here are just a few of the many things that agents bring to the table, that may cause you to reconsider selling your home without one.
1. Knowledge of the industry and buyer-seller transactions. Selling a home is a legal transaction that requires certain experience and knowledge to get the best results. The average person doesn't know or understand each and every detail associated with buying or selling a home. This lack of knowledge can cause a delay in the selling of your home, a loss of money, or even legal consequences. Real estate agents are knowledgeable in every aspect of the transaction. They know exactly how to handle problem situations as they arise, and how to ensure the best outcome.
2. Experience in negotiating. Sure, you may have been able to talk the car salesman into cutting you a deal on your latest car purchase, but negotiating when it comes to selling your home is a whole other ball game. Seller's agents have experience negotiating with buyer's agent and know exactly what to ask for, when to ask, and when it's fair to reach an agreement. If you choose to sell your home without having an agent represent you, may find the process of negotiating to be a challenge and ultimately end up leaving thousands of dollars on the table.
3. Staging and marketing tips. Most agents know exactly what buyers look for when searching for their new home. This is why they often offer tips on how to stage your home when you are preparing to sell. As a homeowner, you may not know exactly how to stage your home so that it attracts potential buyers. What seems like a minor detail to you, could mean the difference between your home being able to sell. Staging your home is only half of the struggle. Getting the word out and attracting potential buyers is where the real challenge comes in. Agents know exactly what tools and strategies to use to reach the most people and ultimately help to sell your home within a timely manner.