If you’re getting ready to sell a house, you might be weighing the pros and cons of hiring a real estate agent.
While it sounds tempting to avoid a realtor and save on “commissions”—that is to say a savings of roughly 5 to 6 percent (the standard real estate agent’s commission)—why don’t we go down the list of reasons why a realtor will save you in your house-selling endeavor.
You will not be taken seriously by your buyer’s agent.
Most often than not, you’re last on a buyer’s agent’s list and even if his client will insist on seeing your home, he might discourage since he is not guaranteed a commission, plus it’s too risky to transact with someone who is not represented by a professional.
You might be exposed to legal risks.
Selling a house is a complex transaction. It requires skill and knowledge of the whole buying and selling process. It involves a lot of form-filling and stuff such as disclosing a defect, hazards, and nuisances. Buyers can sue you for fraud or negligence or breach of contract if you don’t do it the right way. Top real estate agents can very well guide you through a smooth and risk-free process.
You might overprice and underprice your house.
As a matter of fact, a lot of homeowners don’t really have an idea on how much their house would sell. There is a tendency that you overprice your house simply because you are attached to it and have been accustomed with its flaws. Or one day you will suddenly drop your price because you got tired of the process and wanted to just close the deal or your potential buyer said he is now looking in the foreclosed properties in Calgary, even though, for example, you have the best panorama hills real estate in Calgary. Real estate agents know their market very well and they can help you determine the correct price of your house depending on its condition, location, and style.
You can’t keep your emotions aside.
Selling your home entails a roller coaster of emotions. Buyers can say things that can offend you. You will also have to deal with rejections, and you may get frustrated along the way. But top real estate agents are trained for these kinds of situations. They can handle those negative remarks and can even turn them into constructive criticisms.
You don’t have enough time and connections.
Having enough time means working on selling your house full-time and having a wide network of potential buyers. Believe it or not, it’s always better to have a professional who can dedicate time and effort for the entire selling process and who has connection to a large HUGE network so you can get broader exposure for your property. There was a buyer who acquired a relatively cheap house in Calgary because the seller neither had enough time nor sufficient knowledge on where to find potential buyers.
You will waste your time and energy dealing with unqualified buyers.
Everyone knows how big of a deal it is to cancel meetings or excuse yourself from work just to attend to buyers and make your house beautiful and perfect like a showroom. But you have no choice, so you do it anyway only to lose a potential client or waste your time because the buyer didn’t have the financial ability to buy your house. Realtors can help you limit these hassles as they are experts when it comes to evaluating unqualified buyers. They know the right questions to ask to find out if a certain buyer is just someone who wants to view your house or someone who is only curious about it. They also know the right questions to ask to lead a qualified buyer into purchase. And take note, buyers are uncomfortable to have the seller present during a house tour, so there’s a greater chance you’re losing a potential buyer if you do the touring yourself.
You are not trained to negotiate “properly”.
Real estate negotiation requires a specialized experience in selling a home. So, even if you have sales experience in another field, selling a house is still an entirely different thing. After all, you will be negotiating on a big investment which entails a big expense and that’s a lot of paperwork, and as I said earlier, emotions. To know the correct way to negotiate, you need trainings on home inspections and mortgages, and all the financial obligations that you need to be mindful about. Also, selling your home is an emotional process, so you need to learn how to be rational and avoid making rush decisions that you will later regret about. If you are not confident at negotiating, hiring a real estate agent is simply the answer.