Data centers probably weren’t on your list of things to think about when buying or selling a home.School districts? Sure. How close are you to family? Absolutely. A large building full of
Going Solo vs. Hiring a Real Estate Agent: What You Should Know1
Dated: August 23 2024
Views: 119
Let’s get real. Do you have to use a real estate agent when buying or selling a home?
The answer, of course, is no. You can go it alone; some people do so every year.
After all, with the internet at your fingertips, you can search for homes, look up property values, and even negotiate deals.
Yet, even with all that info, 89% of people choose to work with a professional, according to a Report from the National Association of Realtors.
Much attention has been paid to changes in the real estate industry lately. But today, I want to go back to the basics and discuss the difference between a buyer’s agent and a seller’s agent—and what each can do for you during your real estate transaction.
Buyer’s Agents
Sites like Zillow can help you find your dream home by browsing listings online, even alerting you to open house schedules. These sites can also connect you with a local real estate professional if you still need to start working with one.
A buyer’s agent goes beyond the vast amount of information online and acts as your personal guide throughout the entire home-buying process. Think of them as your real estate advocate, entirely focused on your needs and interests.
Realtor.com compiled 111 things buyer’s agents do throughout the real estate transaction, but here, we’ll focus on some of the key elements of their work:
Finding the Perfect Home
As I noted above, you can search for homes online, but can you spot the difference between a house priced to sell and one hiding a laundry list of issues?
According to the 2023 Profile of Home Buyers and Sellers, 89% of buyers used an agent to purchase their home, with 50% citing that the most valuable service was helping them find the right property. Your agent will use their local market knowledge to help you find properties that match your criteria. They’ll schedule showings, provide insights, and help you weigh the pros and cons of each home.
Negotiating Price and Terms
You might think you can haggle your way to a better deal, but you’re missing out on the subtle art of negotiation without an agent. Remember that negotiations can happen at different points throughout the transaction, such as accepting an offer and after inspection and appraisals are complete.
The NAR report highlights that agents are essential in negotiating better contract terms and handling the complexities of the sale. A good buyer’s agent knows how to sweeten the deal in ways you might not even consider—like securing repairs or getting the seller to cover closing costs.
Navigating Paperwork
The paperwork involved in buying a home can be a maze of legalese. This can be overwhelming for many. That’s why 90% of buyers found their agent to be a helpful information source throughout the process, ensuring every “i” is dotted and every “t” is crossed.
Seller’s Agents
On the other side of the deal, a seller’s agent (also known as a listing agent) is dedicated to helping homeowners sell their property quickly and at the best price possible. They’re the ones who market your home, negotiate with buyers, and handle the sale logistics.
Let’s look at some of the key responsibilities of a listing agent.
Pricing the Home Correctly
Pricing your home is part data and part art. Get it wrong; you could scare off buyers or leave money on the table. The right price attracts serious buyers and maximizes your profit.
Over the past few years, properties have been flying off the market in days. Yet, even then, for sale by owner (FSBO), homes sold for significantly less than agent-assisted homes. In 2022, according to NAR, FSBOs sold for a median price of $310,000 compared to a median price of $405,000 for agent-assisted homes.
Seller’s agents use data, experience, and market insight to strategically price your home—something an online calculator can’t replicate.
Marketing the Property
A seller’s agent will create a comprehensive marketing plan to showcase your home to attract serious buyers, not just window shoppers. This includes professional photos, videos, an online social plan, open houses, and sometimes even staging the home to make it more appealing to buyers.
Would you be interested in learning about our marketing plan?
Handling Offers and Negotiations
Without an agent, you’re fielding offers, counter-offers, and everything. It sounds empowering until you’re faced with a buyer playing hardball. That’s why 87% of sellers said they would definitely or probably recommend their agent for future services. A seller’s agent handles the back-and-forth, ensuring you don’t cave under pressure or get taken for a ride.
In addition, they manage the entire sale process beyond getting an offer accepted—from coordination of inspectors and appraisers to getting to the closing table on time.
Final Thoughts
Thinking you can save money on commissions without an agent is tempting. But when buying or selling a property, the stakes are high. A skilled real estate agent isn’t just another expense; they bring expertise and market knowledge that can save you time, stress, and money.
And that’s an investment that can make all the difference.
David Demangos
With over 15 years as a professional Realtor and native of San Diego, home sellers, home buyers, and investors trust David. He has a long-standing tradition of success and a proven track record.He has....
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