Updated: Oct 8, 2022
The real estate market has been holding steady for several years now. Homes seem to be selling quickly AND for top dollar! Right now, it’s a seller’s market with the demand being higher than the supply. With the success of home sellers being so common, people have become tempted to try to sell
their home without a Realtor®. As great as saving money on commissions sounds, it’s always best to list your home with a Realtor®.
There are several reasons why you should hire a real estate agent to help you sell your home.
The first of which, is the liability. When you hire a Realtor®, you pass on the liability of the sale
to the agent and the brokerage. Sellers can find themselves in a pickle should anything go awry
during the sale, especially if there is a disclosure or material fact issue. With a real estate firm
accepting that burden, sellers can rest assured that they won’t be sued for errors or omissions.
Another reason to hire a Realtor® is their expertise. Realtors® sell homes day in and day out.
It’s what they do. They know the nuances and subtleties it takes to work a deal and to make it a
win-win situation for everyone. Realtors® have a rolodex of professionals at their disposal. They
have home inspectors, attorneys, mortgage lenders, appraisers and most importantly, other
Realtors® that have buyers at their fingertips.
Realtors® also have access to the Multiple Listing Service which not only provides listings to all
the other Realtors® but syndicates those listings to thousands of sites across the world.
Benefits of having a Realtor® with access to the Multiple Listing Service include having up to
date, accurate and precise information pertaining to your home and the comparable properties
and having the ability to reach out directly to potential home buyers and their Realtors®.
Another advantage to hiring a Realtor® to sell your home is that you will make more money.
Even with paying commissions, you will most likely make more money. According to the National Association of Realtors®, FSBOs accounted for 7% of home sales in 2020. The typical FSBO home sold for $260,000 compared to $318,000 for agent-assisted home sales. Well worth paying the difference in commission on a comparable sale.
Most times, For Sale By Owners end up paying the Buyer Agent commission. Most buyers still
want representation and they expect the sellers to pay for that. So not only do For Sale By
Owners sell their home for less, but they still pay the buyer agent commission.
Why do For Sale By Owners make considerably less? It’s because Realtors® are professionals
that know exactly what to do to maximize the profit from the sale of your home. They know how
to price it right. They know how to stage the home. They know what updates and renovations
you should do before your home goes to market and they know exactly what home buyers in
your area want because they deal with home buyers every day. There are a lot of things you can do on your own to save money. Selling your house isn’t one of them.