There are numerous reasons – here are just a few…
You will make more money. The average agent assisted home sale sold for $230,000 where as a For Sale By Owner only brought in $184,000. Most people fail to sell their home on their own and wind up having to work with an agent anyway to sell their home. 80% of all “For Sale By Owners” wind up working with an agent. Last year “For Sale By Owners” only accounted for 9% of all Homes Sales.
Accurate pricing. Only a person intimately involved in Real Estate particularly the local market you are trying to sell in can price your home at Market value. Online Evaluations and websites are never truly accurate and are normally grossly under or overpriced. A local agent will know what type of market you are in and how to price accordingly to get the most for your home in the least amount of time. Bad pricing will have your home sitting on market and the longer it sits the less likely to sell and at a greater discount off the original listing price. Let the agent use their tools and skill set which include: pricing, MLS, their own pool of buyers, advertising, negotiating and marketing to lead you to hit the bull’s-eye when selling your home.
and make sure that the transaction is within the confines of the law.
Why use an agent when buying?
The reason to use an agent when buying a home is almost a no brainer! A Buyer’s agent costs you no money. The agent being intimately involved in your market in can skillfully guide you through the process. A good agent will help you save money. They can give advice on offers and negotiating with the listing agent to try to get as much discount as possible from the listing price. They can get you in touch with other reputable professionals for services you might need. They will help you become familiar with the area and are by your side from start to finish. They have the tools to help you find the home of your dreams.
Do I have to spend a lot of money to get what I want out of selling my house?
NO! Several things go into what price your home will get once placed on the market including the U.S. economy, your local market, what are the homes selling for in your neighborhood with features like yours. You do not need to spend $30,000 updating your kitchen to get top price for your home. In fact you may not need to spend a dime. The only improvements on a national average that even have 100% return on investment or higher right now are windows, doors and paint. Talk to an Agent to help guide you if you need to make any improvements or changes to your house before selling it.
Is renting cheaper than owing a house?
Yes and no. It depends on your unique situation as well as the market. In today’s current market with historically low interest rates and rising rents, yes, owing, in most cases, is almost always cheaper than renting if you can afford it. With renting, all your money is just going to your landlord’s pocket or paying your landlord’s mortgage. Where as, if you own your home, your payments are going toward equity in the property which acts as a savings vehicle not to mention being able to sell your home for profit or rent it out yourself. Owning a home though has risks like liquidity, the ability to get the money it is worth quickly, taxes and cost of repairs. So you will want to have a small amount of money in reserve so you can make sure your home stays yours.