Mortgage
December 31, 2020

Should I Hire a Real Estate Agent?

Whether you’re buying or selling, you might be asking yourself if it’s worth it to hire a real estate agent. Maybe you are wondering if you can save some money by simply doing it yourself. While certain aspects of the buying and selling processes might seem easy enough to do on your own, real estate agents are deeply versed in every facet of home buying and selling. This means you may be able to make more or save more by hiring an agent than doing it yourself – even when you’re paying for the agent.

An Agent May Be Able to Save You Money

Homes that are for sale by owner (FSBO) typically sell for less than homes sold with an agent. According the 2019 Profile of Home Buyers and Sellers, FSBO homes sold at a median of $217,900 compared to agent-assisted homes that sold at a median of $242,300. This suggests that, despite having to pay a commission to your agent, you can still potentially make more money selling your house with an agent than without.

On the buying side, an agent may be able to save you money by utilizing their negotiation skills and trend knowledge. As experts in the industry working with your best interest in mind, they can guide you through the process and find you the deal that works for you.

They Have a Wealth of Knowledge

Sure, you can list your house online or browse homes online by yourself, but you may not have the time and knowledge to be as thorough as an agent would. An agent also knows all about local trends that will impact your results. They are up to date on regulations that will make the process run significantly more smoothly and conveniently. It pays to invest in someone who will dedicate the time and who has the knowledge. It will save you time, frustration, confusion, and will potentially get you a better deal than you may have uncovered on your own.

They are Negotiation Experts

Real estate agents are skilled when it comes to negotiation. And when you’re buying or selling a house, there’s a lot of negotiation involved. You’re going to want someone who knows what they’re doing to take the reins when it comes to something sensitive and important like negotiation. This goes for several aspects of the process – from negotiating with appraisers, the other party’s agent, home inspectors, and more. It certainly helps to have someone who knows what they’re doing handle these situations.

They Can Provide References

Not only will a real estate agent help you understand the home buying or selling process, negotiate, and make sure everything is taken care of legally, but they may also be able to offer you references for other professionals involved in the transaction. All of these things can be overwhelming when you’re by yourself, but an agent will act in your best interest and offer you the guidance and references that are most likely to provide you with a better experience.

They Can Save You Time

The process of buying or selling a house can take time. You may be able to browse housing listings online with ease, but an agent will be able to cut through the clutter and show you what you’re really looking for. On the selling side, an agent may be able to attract the perfect buyer. Plus, they can manage all the paperwork and other time-consuming components of buying or selling a house. They will keep everything organized and make sure you are keeping up with every step, so you don’t lag behind.

If you are buying or selling your home, a real estate agent can save you time, energy, and money. They’re there to be your guide and make the process as simple as possible. When you add up all the benefits – including the potential to make or save more money with an agent – it often makes more sense to hire one rather than attempt to go at it alone. Contact one of our Loan Originators today who can provide you with a list of helpful real estate agents. And if you’re looking for home financing, click here to contact us.

Source: The National Association of Realtors 2019 Profile of Home Buyers and Sellers