TUESDAY TIP: Working with a Real Estate Seller's Agent
It is natural for home owners to expect the highest return on investment when selling their home. In fact, many owners decide to open up their home for selling without the help of a real estate agent. But will skimping on the professional services and commission intended for a real estate professional be truly worth it?
This article is a direct-to-the-point guide on why every home seller needs a seller's agent. (Sorry guys, it's not a promotional article. It's just plain. cold. truth.)
Buyers prefer to deal with agents (because they have agents representing them)
Even if you choose to handle the sale of your home by yourself, you might find difficulty in transacting with prospective buyers because they will likely approach you through their own agent. Buyer's agents, in turn, are hesitant to deal with properties that are FSBO (for sale by owner) due to the possibility of encountering problems during the transaction process because of your lack of experience in completing the necessary paperwork and other necessary procedure. Also, you will eventually find out that having no seller's agent will keep your hands tied and make you preoccupied with tiring tasks such as maintaining your own internet listings, putting up signages, prepping up the home for showings, and entertaining prospective buyers in showings at the expense of your time.
You need help with documents
The submission of complete transaction documents is crucial in a smooth home-selling process. If you are unfamiliar with the documentation necessary for the sale of your home, you run the risk of committing a mistake with possible legal consequences. If you're a lawyer, perhaps you might be knowledgeable of the documentary requirements. However, most lawyers prefer to pass on the home selling work to their agents because they would prefer to focus on their work and leave the home selling to the most capable hands. Perhaps that's a smart move to follow, especially if you are not a lawyer with free time on his/her hands.
Your agent is your all-around assistant
The concept of an agent selling your home in your stead might sound too easy for the amount that you have to pay on commission, but that's the most common misconception home sellers have when underestimating the responsibilities of a seller's agent. Agents do more than simply showing up with buyers in your home for showings. From adding your listing into the MLS, marketing your home to fellow agents representing buyers, preparing your home for showings, entertaining prospective buyers, to taking care of documentation and escrow to ensure a complete home selling transaction without any legal complications on your part, you can say that indeed, your seller's agent is your all-around assistant worthy of the commission he so worked hard for.
Your agent is your ticket to the MLS
People who insist on selling their home by themselves (FSBO) are missing out on the most important opportunity of opening up their home to the largest prospective buyer market they could tap into-- including their home into the MLS. The MLS is a unique and localized service used by agents that allow seller's agents to offer their listings to buyer's agents, and vice-versa. If your home is not included in the MLS and you are solely dependent on your internet ad listings, you are not giving your home the maximum exposure that it needs. To tap into the MLS, you have to work with a seller's agent-- it's that simple and it's non-negotiable.
Some people simply find it hard to accept that they can't do everything by themselves. But why not take it as a blessing? Work with a seller's agent, and take many tasks off of your hands. Leave the home selling work to your agent and focus on things that matter like working on your career or raising your kids. If you are unsure on where to start, you can read up about selling your home. Also, you may schedule an appointment with an agent and see where your first meeting will take you. Consultations are usually free (and committing to work with a seller's agent is often worth it!).