Posted on June 26th, 2022

The chances of a better offer, a faster sale, and experience of the whole real estate process are a few of the most important answers to the question:

Why hire a real estate agent? But that’s just the tip of the iceberg. A qualified agent serves as an advisor in your corner, preparing you for every move in a competitive and often unpredictable real estate market. Here are our top reasons why you should consider hiring a real estate agent when you’re selling or buying a home.

Why hire a real estate agent if you’re selling:

1. Likely to get you more money for your property

Some sellers believe they can get more money for their property by cutting out the standard agent commission and selling their homes For Sale By Owner (FSBO). However, if the buyer has an agent, the seller will still likely need to pay the buyer’s agent’s commission

“The common misconception is that we get to pocket all that money,” says Kim Erwin, a top-selling agent in Corpus Christi, Texas, explaining that the commission typically paid by a seller is usually split roughly evenly with the buyer’s agent.

FSBO sellers are walking away from home sales with less, according to a 2021 report by the National Association of Realtors® that states the median price for FSBO-sold homes was $260,000 while agent-involved home sales averaged $318,000. When you do the math, homes sold by agents statistically bring in an average of $39,000 more even after accounting for the commission.

2. Likely to generate a speedier sale

Agents have experience with proven strategies that help sell properties quickly. An expert agent who knows your area will be well-acquainted with the current housing market, knowing what is motivating buyers in your area, and come prepared with a comparative market analysis from similar houses that have recently sold nearby. Some ways agents can help your home sell faster include:

• Setting the right listing price
• Knowledge of area trends
• Suggesting a pre-listing inspection
• Helping prioritize updates, and repairs
• Effective marketing

3. Helps juggle many moving parts at once

The lifecycle of a real estate transaction comes with many moving parts, timelines, and professionals involved. Think of your agent as a project manager and liaison for each stage of the sale.

To tick all the boxes, each step in a real estate transaction requires expertise, focus, and constant communication — not to mention abundant paperwork — to move the home sale forward. Here are aspects that real estate agents are involved with during the lifecycle of the sale:

• Set an asking price based on market data
• Advertise the home
• Help prepare a house for showings
• Show the home to buyers
• Hande buyer offers
• Earnest deposits go into escrow account
• Prepare contracts
• Oversee attorney review
• Negotiating offers
• Review seller disclosures
• Review loan paperwork
• Arrange title searches and communicate with escrow agents
• Home inspections
• Buyer contingencies
• Appraisals
• Closing documents
• Walkthrough
• Closing

With all the tasks, deadlines, and responsibilities, a home sale goes beyond what a layperson without the proper expertise and training can manage. If you’re thinking of selling your home, find a top agent to get started.

4. Can identify home improvements to help the sale

Real estate agents advise sellers on priority home improvement projects that will deliver the best return on their investment. For example, investing in lawn care will deliver a return of 352%. Additional improvements that require a small investment that boost curb appeal –– like adding mulch, power washing the exterior, or planting flower beds — might also be suggested.

To tackle each project, you’ll need reliable professionals. Look no further than your agent for a network of trusted professional contacts such as contractors and other home improvement specialists.

5. Expert at setting the right price

For an expedient sale, it’s essential to avoid the temptation of overpricing your home and pricing it appropriately for the market. “It’s very very important for the seller to have the right comp analysis on the property [when pricing the home] because if not, the property’s going to fall behind on the market,” cautions Hilda Dovenbarger, a top agent who sells homes 29% quicker than the average El Paso, Texas agent.

“The longer it stays on the market causes people to start bringing in lower offers or start wondering why this property is falling behind.”

Want a ballpark figure of what your home is worth? Our Home Value Estimator will provide an estimate of your home’s value by analyzing market trends data, your home’s last sale price, and recent sales records, though working with an agent is still recommended for the most accurate price possible.

Original Post: Why Hire a Real Estate Agent When You’re Buying or Selling