Hiring a real estate agent to sell your home may seem expensive. Their commision is usually about 6 percent of the selling price of the home. For example, on a $250,000 home, the commission would be $15,000. If your house sold quick, say in a week, then that would seem like an extreme amount of money for very little work. Is it worth it to you? Or should you go it alone and offer you house, “For Sale by Owner.” Here are some pros and cons for each side.
When you have an agent, you give them nearly all the control over the process of selling the property. They do all the advertising and showing of the property. What sort of resources do they bring to the table? For one, the agency’s membership in the area multiple listing service.
People these days rarely just show up at the office of a real estate agent. They look online at the town’s multiple listing service or websites that show all the houses in the area that are for sale. Those sites usually have the multiple listing service as the backbone of their database, or area agents just manually enter in each property they have listed. This puts your property in front of nearly all the potential buyers of the area. Never underestimate that advantage.
However, some agents are lazy. They rely on the online element to sell your property and don’t actively promote your property. They may write an uninspiring listing or take poor photos of your home, then just wait for buyers to show up. Your property can languish on the market for months or years with a bad agent.
If you go on your own, you could use traditional methods to sell your home, like signs and newspaper ads. These may or may not do the trick to sell the house. You could also get a domain name and hosting, from Godaddy, and put up your own webpage about your property that is for sale. You could put up as lengthy of a description as you like, with many photos and links to area information. This can be very effective, if you have a knack for design.
One must also consider the time needed to show a home to potential buyers. If you go your own, be ready to drop everything at a moment’s notice or lose a sale. A dedicated agent will do this for you.
Statistics show that you will do better with your sale if you have an agent. Your property will sell sooner and for more money. It is best to do your research on the area agents and pick the area’s top performer, then sit back and let them do their job.