Selling your home? Top reasons to hire an estate agent
05 June 2015, by Design A House Sign
With the innovation of technology and so much information readily available online, many people wonder whether or not they still need to hire an estate agent. It can be an extremely tempting thought that by selling the home yourself, you manage to cut out the agent’s commission. This is around 7% on average so you would be saving a tidy sum. However, there are some major setbacks to this and there are plenty of benefits in having an estate agent to help sell your home. These are just a few of the top reasons why you should still consider hiring an agent to sell your home.
Experience and knowledge
Although many people would be more than capable of selling their own homes, estate agents obviously have a great deal of experience in selling houses. They also act as a buffer and will work to filter out the phone calls that lead to nowhere and try to only introduce serious buyers to the property. This way you can ensure that selling your home runs smoothly and that things move as quickly as possible. They should also have a great local knowledge of the area and be able to offer price guidance to make sure you get the best value for your home.
Market conditions and information
When selling your home, it is important to get an insight into the market conditions and trends. This is hard to keep up on, but an estate agent will have a good idea of the current market. There are a number of factors that might determine the sale of your home. This will include things like the average price per square foot costs, days on the market and average sale prices. You might be able to keep up to date with local listings in papers and online, but an estate agent will also have inside information on some of the sales. They will be able to tell you what the local properties have actually sold for, how much interest it had and other inside information.
Professional networking and access
Real estate agents have worked with other professionals and will have built up a wide range of useful contacts within the industry. There will no doubt be some other services that you will need to use in the process of selling your home and buying a new one and an experienced estate agent can advise you on the best route to take. They may not be able to recommend one service over another, due to legal liability, but they will know which vendors are reliable and efficient. They will also have better access to all other properties listed by agents to get a better understanding of the market and competition. They also have access to clients who would be interested in buying your property.
Estate agents can’t lie
Well, this isn’t strictly true, but they are at least extremely unlikely to lie to you. This is because they are licenced under an agency agreement to represent you. Not only will there be repercussions if they are found to be lying, but most agents rely on referrals and repeat business to build a clientele base. This is not suggesting that private buyers or sellers are going to lie about their situation, but there is more chance they are going to be untruthful if they are protecting their best interests. If you are working with an estate agent, they will be able to provide you with a professional service and can offer their help and advice should anything go wrong with the sale.
Not everyone can save money
One of the biggest issues to arise if you are selling your home without the help of an agent is that not everybody will be able to save money. It is worth to keep in mind that although you might be saving money on the agent’s commission, the buyer may also be aware of this. Therefore, the buyer might feel that they can make a lower offer on the house to accommodate for this. In this case, you might not actually be saving any money or the offer they make might be even lower than one with the agent’s commission.
Negotiating is a tricky business
The art of negotiation is a skill that not everyone has mastered, but an estate agent will be a professional in this and can make sure that you get the best deal. They can also act as a mediator between the two parties and make sure that any discussions are amicable. If the buyers are unhappy with aspects of your home or don’t want to meet your asking price, then an agent is better equipped to smooth things out and negotiate the best deal for you. An estate agent can also remove themselves from the emotional aspect of the sale and make sure that they get the best deal for you.
These are just some of the reasons why hiring an estate agent could be more beneficial for you in the long run. Above all, hiring an estate agent will save a great deal of time and effort, in organising aspects of the sale such as viewings. After all the other fees and factors involved, you might not actually save money anyway. It is also important to remember that an estate agent will have your best interests in mind, as most of them work on a commission basis. This means they don’t get paid until your house is sold, so they will often do all they can to ensure they help in providing a swift service to meet the needs of their clients.