IS IT WORTH USING AN AGENT TO SELL YOUR HOME?
To reduce costs, some homeowners may be thinking about listing their property themselves, rather than making use of a real estate professional. On surface value, this may seem to be an excellent way to cut down on expenses during the homes sales process; however, it also means that the homeowner will have to see the whole process through from start to finish.
According to Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, there is more to selling a property than most people initially realise. “Since the introduction of the internet people have become more educated and confident when it comes to attempting certain things that they would otherwise leave to the professionals. However, even with the vasts of information available online, there is a reason that only around 5% of South African homeowners decide to go it alone when selling their home. Apart from the fact that it is far more convenient to use a real estate professional, there are other vital elements that an estate agent brings to the table,” he says. “As a seasoned expert selling homes on a daily basis, agents will have market knowledge, advertising and marketing know-how, negotiation skills, time to host show days and the ability to price the home for the current market correctly.”
Agents deal with property sales every day, so they are well equipped to navigate the process smoothly and take the burden off the seller’s shoulders. “Estate agents are also highly motivated to sell the home because if they don’t sell it, they don’t get paid,” adds Goslett.
Here are four other reasons why using an agent will help sellers to make the most money in the shortest time when selling their homes:
An agent could increase the potential profit
Some people avoid using an agent to make more profit on the sale, however, statically, agents often achieve a far higher selling price than homeowner’s selling the home themselves. In an attempt to avoid paying commission, sellers are sometimes leaving money on the table during the negotiation. “Often the selling price an agent achieves is enough to cover their commission and more. How do agents do this? They have the experience and resources to price the home appropriately,” says Goslett.
Studies show that if homes are correctly priced when listed, they will sell faster and for a better price than those listed at overinflated prices.
Agents save time
It is a relatively quick process to list a home online, but that isn’t where the sales process ends. A lot of time is spent dealing with potential buyers, home inspectors, and appraisers. It is an agent’s job to handle all of these things so that the seller doesn’t have to. An agent can also screen potential buyers, help sellers to prepare for home inspections and ensure that the whole sales process is handled efficiently.
Agents make deals and negotiate every day of their lives, so it is likely they will get a better deal for the seller than they would themselves. A property sale is probably one of the biggest deals that a seller will make in their lives, so why not use a seasoned professional with honed negotiating skills? Listing the home with an agent also means that the seller will get the agent’s marketing power, access to their network and connections.
Using an agent lowers the seller’s risk
Making a mistake while selling a home could mean dealing with the possible legal consequences. Selling a home is a complicated endeavour that involves a lot of paperwork that needs to be filled out correctly. An agent will know the ins and outs of what is required and how it needs to be addressed.
“Due to the nature of property sales and the huge financial impact it can have on people’s lives, the right estate agent can add value and be a helpful, professional guide for homeowners to rely on,” Goslett concludes.