4 Reasons a Home Seller Needs a Great Agent
With YouTube tutorials just a click away, it's easier than ever for thrifty, ambitious consumers to cut out the middleman and save a buck by going solo - from how to paint kitchen cabinets, upgrade Ramen or make your own chewing gum.
But there's one major endeavor where it doesn't pay to be a do-it-yourselfer: selling a home.
"There's no substitute for the experience and skills that a professional real estate agent can bring to the process," said Kerry Brill, president and chief executive officer of Merit Co. Real Estate in Colorado Springs, Colo., the oldest and largest independent full-service real estate agency in the Pikes Peak region.
"Sellers may think that they can save money by showing and selling their residence themselves and thus eliminating the small commission earned by the agent," says Brill. "But the truth is, more often than not, the seller ends up making mistakes, overlooking opportunities and selling for less without the help of that expert."
Here are Brill's top four reasons why it's more advantageous to work with an agent than to go the FSBO route:
1. With a broker, you'll likely sell for more money.
In fact, the average For Sale By Owner (FSBO) sales price was $174,900 versus $215,000 for a home represented by an agent, according to the National Association of Realtor's 2013 Profile of Home Buyers and Sellers. That's a difference of $40,100.
2. An agent knows how to properly price your home.
A qualified real estate agent can put you on track for a faster sale from the start by pricing your home correctly. This expert is skilled at comparing your property to comparable properties in your area and has access to other key market data. A property that's not priced right upon first listing will sit longer on the market.
3. Because a real estate agent loves to sell.
You, my friend, are not in sales for a good reason. An agent provides an instant buffer between you and potential buyers. This is an enormous benefit to you when the need arises for hard-nosed negotiation, or tactful positioning or saying No without killing a deal. Without an agent, you must be present to show your home yourself and negotiate price and terms directly with buyer candidates and their agents. This can get tricky and tedious for someone who lacks the know-how. Besides, buyers prefer it when the seller isn't around during a showing.
4. An agent will sweat the details.
Do you really want to go through the contract with a fine-tooth comb? Hammering out a real estate contract is complicated business that should be supervised by a professional. Your agent can make sure the contract is amenable to your needs and deadlines and complies with local laws, reducing your risk of potential legal problems.
"It's no secret why approximately 90 percent of all homeowners opt to enlist an agent to help them sell their homes," says Brill. "Professionals deliver results and make this complex process easier for you."
When it comes time to sell your home or buy one, partner up with a real estate expert. Talk to Merit Co. We'll provide a free home valuation, help you apply for a low-rate mortgage and send new listings to your in email in box.
We are a family-owned local real estate agency committed to customer satisfaction and the success of our clients and agents. Since 1969, Merit Co., Inc. has been a leader in the Pikes Peak region.
For more information, drop by our website or phone (719) 598-4884 and ask for a consultation.