When buying or selling a home, many people feel it is a venture that they can pursue on their own. In reality, there are many complexities in the transaction process that an individual who buys or sells a handful of times in their life does not need to know, and really shouldn't waste their time learning. You will probably get as many cavities in your life as real estate transactions. Does it make sense to try to fill them on your own? It doesn't to me.
When buying a home, using an agent is a no-brainer. The agent's commission is paid by the seller of the home. The buyer agent works with you to walk you through the transaction, assist with coordinating financing, inspections, repairs, and closing, all after the process of helping you find and select your perfect home. Again, let me restate the most important part for a buyer... it costs you nothing!!!
Most of the time, those that try to accomplish the task on their own are home sellers. "All an agent does is stick a sign in the yard and take some pictures. As simple as that!" This is far from the truth. Some of the things an agent provides are assistance with staging, pricing, professional photos, open houses, marketing, paperwork, helping negotiate, and, probably most important, safety (more on this later)!
Surveys show that For Sale By Owner properties used the following marketing strategies:
- Yard sign: 33%
- Friends, relatives, or neighbors: 21%
- Online classified advertisements: 10%
- Open house: 21%
- For-sale-by-owner websites: 7%
- Social networking websites (e.g. Facebook, Twitter, etc.): 9%
- Multiple Listing Service (MLS) website: 13%
- Print newspaper advertisement: 3%
- Direct mail (flyers, postcards, etc.): 2%
- Video: 1%
- None: Did not actively market home: 41%
I am not even sure we can consider that last 41% as for sale.
Regardless, a great agent will use all of the above methods for every property. The more exposure your property gets, the more offers you will likely receive, and the faster they will come in.
Back to the comment I made earlier about agents providing safety. If you are selling your home by yourself, how do you qualify, verify, or screen the strangers that are coming into your house? Will they be able to buy your house? Do you really know who they are? Can you trust them?
An agent is going to have your home locked with a box that records who comes in, when they come, and how long they stayed. Your home will be shown by other agents who know their clients and verify their ability to purchase. Trust me, the last thing an agent wants to do is show potential buyers a property that they have no ability to buy. It is a waste of everyone's time.
If you are thinking of buying or selling, please reach out to me with any questions you may have. I am always available to help!
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