Why do I need a real estate agent to sell my property?
It is possible to sell your own home and some people have done it successfully, however the task for most is not an easy one.
There are several compelling reasons to retain a professional real estate agent to act on your behalf on the sale of your home:
- Objectivity: It is very difficult to view your own home objectively as most of us form an emotional attachment to our home. As a result it is a challenge to accurately appraise the value of your own home. More often than not owners overestimate the value of their home. An overly inflated asking price can result in a property remaining on market for too long and a poor sales result may follow. It can also be difficult for an owner to remain calm and commercial with purchasers who proceed to harshly criticise their home in an effort to negotiate the price down.
- Professional advice: A professional agent has the necessary skills, market knowledge and experience to properly advise you. For example, an owner who does not know the market may sell their home for less than it is worth, and the lost capital might far outweigh any intended saving on an agent’s commission.
- Marketing expertise: Agents have the expertise and contacts to put together cost-effective marketing campaigns. For example, if an owner books advertising with a newspaper directly they will be charged casual rates which can be double the discounted advertising rates offered to agents. Agents who pass on these discounted rates thereby secure significant savings for their clients. Agents also enjoy exclusive access to some critical marketing media including some major real estate Internet sites. Private sellers are not permitted to advertise their homes on some of these sites and as a result their homes will not be brought to the attention of the prospective purchasers who use those sites.
- Purchaser database: Real estate agents are in the business of selling properties and so they have a database of prospective purchasers who might well be interested in buying your home.
- Experienced negotiators: Many owners have no sales experience and no negotiating experience. This can cost them dearly at the negotiating table, whereas a good agent can make you money.
Having a good agent working on your behalf should minimise the stress of the sales process, and maximise your sale price!