Ten Reasons Why Sellers Should Hire A REALTOR®
1. REALTORS® Are Real Estate Specialists. Not all real estate professionals are created equally. There are approximately 2.3 million licensed real estate professionals, but only members of the National Association of Realtors can call themselves Realtors. This association of brokers and agents provides a Code of Ethics to standardize professional behavior. This helps you rest assured that you’re getting reliable information, not being presented with lies.
2. REALTORS® Know your local market. They have access to more industry-related resources than someone who goes at it alone. They have data on your local market to help you make informed decisions. They also have contacts to their own trusted network of local affiliates such as mortgage banker, inspectors, and appraisers.
3. Hiring a REALTOR® is financially smart. The median sale price for a FSBO home is significantly less than a home sold through a Realtor and FSBOs often stay on the market longer. If you list with an MLS broker, you create the largest possible demand for your home by putting your home into the open real estate market, with hundreds of brokers and thousands of agents working to sell your home to an enormous pool of buyers. Basic economic theory says that the larger the potential buyer market, the higher the price. But if you don’t take part in that broker-generated market, you’re not going to get that broker-generated price.
4. REALTORS® Are invested in you. Realtors have a vested interest in the sale of your home and they don’t get paid until a deal is closed. Realtors pay out-of-pocket expenses for marketing, signage, gas and open houses.
5. REALTOR® Help you sidestep lawsuits: Agents can protect sellers from potential litigation. “There are all kinds of liability issues that a seller could potentially face when dealing one-on-one with a buyer. Agents, who have experience dealing with these liability issues, can help homeowners dodge lawsuits and save time.
6. REALTORS® Filter buyers for you. Independent sellers might not have any idea whom they are letting into their homes during open houses. These potential buyers might not have the credit to make the purchase — and would therefore be wasting the homeowner’s time — or could try to rob them later on. Homeowners working with agents will have qualified buyers visiting their properties.
7. REALTOSR® Help ease the stress of negotiations. A negotiation for the purchase/sale of an asset as large as a piece of real estate can be a very confrontational interaction. The role of the REALTOR is to act as a buffer between the two parties who are in the midst of a very emotional and high-level financial transaction, both wanting to get the best they can get often at the detriment of the other party. A real estate professional is experienced in all aspects of the negotiation and is bound legally to do only what is in the best interest of his/her client. It’s a buyer’s market out there. And with all the information available online, today’s well-informed buyers are tough negotiators. Real-estate agents have been through the home-selling process before and are trained hammering out a deal in the seller’s best interest.
8. REALTORS® have the best internet exposure. If you’re trying to sell your home in the internet age, you need maximum internet exposure. When you list your home with a broker it gets thousands of unique users every day. On top of that, we list your home cooperatively with all the other real estate broker websites in the region, including our competitors. So any buyer looking on any conceivable real estate website is going to find your home. Yes, you can list on some sites that take FSBO listings, but not on the local broker websites, which is where most buyers look.
9. REALTORS® Have the time. Do you really have the time for another full time job? What’s your time worth? Selling a home is a big job, and takes a lot of time. That’s why most people hire professionals to take all the steps to sell a home: taking pictures, putting up signs, putting in ads, staging and detailing the home, placing listings in internet sites, writing descriptions, arranging showings, attending showings, getting feedback, holding open houses, and keeping track of the market. And that’s before the entire offer and acceptance stage, which requires even more work. Yes, you can do that work yourself, but how much is your time worth?
10. Myth: REALTORS® are expensive and I don’t want to pay for them. You’re not really paying the commission. Why do people think that the seller pays the commission? At the closing table, all the money comes from the buyer, not the seller. Yes, the seller is the one who actually writes the check for the broker’s fee, but it’s the buyer who provides that money to the seller. Really, it’s the buyer who pays the commission, by paying more for the home than she probably would for a FSBO sold without a broker. Buyers who are looking to purchase a home sold by owners may also believe they can save some money on the home by not having an agent involved. They might even expect it and make an offer accordingly. However, unless buyer and seller agree to split the savings, they can’t both save the commission.