In 2023, a world in which the DIY mentality has become contagious, should homeowners endeavor to sell their houses solo? Or do quantitative and qualitative data suggest that there are still major benefits to working with a real estate agent? Here are 6 benefits of using a real estate agent as a partner to sell your home versus going the FSBO route.
Market knowledge - Agents have a deeper understanding of the local real estate market, including current market conditions, prices, and trends. They can provide valuable insights into how to price your property, how to make it more appealing to buyers, and how to negotiate effectively. NAR (National Association of Realtors) data shows that homes listed with an agent sell in about half of the time it takes for FSBO (For Sale by Owner) homes to sell.
Market expertise - Real estate agents are well-versed in the complexities of real estate contracts and negotiations. They can help you navigate the terms and conditions of a purchase or sale agreement and help you secure favorable terms. Not to mention, data suggests that homes listed with agents sell for a median price that is 16% higher than FSBO houses.
Access to a larger pool of buyers - Real estate agents have access to a network of buyers through their MLS (Multiple Listing Service) database, personal network, and marketing efforts. This means that your property is exposed to a larger pool of potential buyers, increasing the chances of a successful sale.
Expertise in contracts and negotiations - Agents have the tools and resources to market your property effectively, including professional photography, virtual tours, and print and online advertising. They can help you present your property in the best possible light to potential buyers.
Eased transaction process - Real estate agents handle all the administrative and paperwork tasks associated with buying or selling a home, freeing up your time and minimizing the stress of the transaction process.
Legal compliance - Agents are knowledgeable about the legal requirements of buying and selling a home, such as disclosure laws and contract requirements. They can ensure that all necessary documents are properly executed and submitted, reducing the risk of any legal issues down the line.
Of course, the exact time it takes to sell a home can vary based on the local housing market, condition of the home, price, and marketing strategies used. But, in general, using a real estate agent can help increase the speed and success of a sale and provide support throughout the process.
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