While Americans have always been comfortable with using the realtor for buying and selling houses, there are debates lately as to if there is a need for them. With the internet and the ability to list homes yourself, you may wonder why you still need to part with some percentage of the property.
However, this piece is not to choose for you. Instead, we want to provide you with the best information to make appropriate choices. Thus, we consider the benefits and downsides of the realtor and how to select the best of them.
Then, we will answer the question, “Are there better alternatives to using a realtor?”
Benefits of Using a Realtor
Selling your home through a realtor presents some advantages that you may not get when you decide to handle the sale process yourself:
- Get the Best Pricing
Your desire as a homeowner is to offload property at the highest price possible. However, in most cases, you cannot often make that happen. First, if you aren’t highly involved in the real estate industry, you may not understand current market conditions and the price that properties should attract. As a result, you may sell your house at a price lower than you should ideally take.
Then, when you get prospective buyers, negotiations on price and other details can be thorough. Unfortunately, you likely lack the expertise to see these deals through.
But all of these are what the realtor does daily for a living and has amassed lots of experience. So you can be assured of getting the best deals.
- Save Time, Effort, and Resources
The enormity of the processes you go through to sell a property should be enough to justify getting a realtor.
When you start getting potential buyers regarding a property, they will desire to take a detailed look at the property. Realtors usually conduct these inspections, and they can organize several of these before closing a sale.
Then, there is a lot of grunt work, dealing with paperwork such as offer papers and regulatory filings.
When you consider the amount of time and work you would have rather saved, you’ll see the need to hire one.
- Avoid Common Pitfalls
It is pretty easy to make mistakes in getting your home sold. For example, you may skip providing the proper documentation or fail to safeguard some paperwork, which may cause legal issues later.
Then, many home sellers don’t conduct background checks on the people that buy from them. While this is not compulsory, it may sometimes be necessary.
These issues and more are what the realtor will handle on your behalf.
- Tap into Expertise That You Don’t Have
No matter how much knowledge you amass about the real estate market, you can’t have the industry depth that an experienced realtor possesses.
For instance, some real estate deals are more complicated than others. But a realtor with decent mastery will know how to navigate these.
Realtors may also prove helpful in handling legal issues, saving you considerable sums in attorney’s consultation fees, which are always expensive.
- Realtors Have Your Best Interests
Be rest assured that the realtor is motivated to help you succeed. Their success is tied to you selling your home at the best price and conditions.
Downsides of Using a Realtor
For the homeowner, you may realize that recruiting a realtor presents you with a new set of problems.
- Selling Your Home May Take Time
You aren’t the only client the realtor is serving. The realtor commits the same time and efforts directed at helping you to other homeowners or buyers.
As a result, you should be ready to deal with missed calls, unmet deadlines, and unavailability from the realtor. All of these may significantly slow the property’s sale.
- Paying the Realtor
The realtor has to get paid for all the services rendered, but the costs can be sizable. Typically, US realtors charge between 5% and 8% of the purchase value. You may have otherwise committed the amount to pay taxes on the property.
- The Problem With Middlemen
The realtor is a middleman, and even though they’re representing you, they can’t do the deal as you would. Thus, if you would like to influence your deal somewhat, you’re limited as to what you can do when you contract a realtor.
You should be ready to rely on the realtor’s skills.
- Credibility Issues
While the realtor should ideally be your proxy, that’s not always the case, as some may have dishonest motives.
What to Look Out in a Real Estate Agent When Selling Your Home
You can avoid the worst of real estate agents if you choose rightly. Here is a guide to making a good selection.
- Check the Credibility of the Realtor
If you’ve got any realtors in mind, you need to know their reputation regarding property sales. You need this because the best way to evaluate a realtor is to get recommendations from people who have previously contracted their services.
You can check reviews online using “Google Business” or other review sites. Then, you need word-of-mouth testimonials from persons you know or trust.
This is your home, and you need to get the best when selling it.
- Study the Realtor’s Manner of Business
You should already have a list of at least two or more realtors you’re considering from the recommendations. It is then time to examine their particular practices to decide if you would like to work with them.
For one, take a look at their marketing strategies. Typically, modern realtors should prioritize digital advertising over traditional ones and have a strong presence on multiple online listing platforms.
Similarly, your choice of a realtor must be tech-savvy and should focus on using digital tools for business. For instance, they should have an allowance for virtual tours.
- Interview the Final Candidates
Schedule a phone session or a physical meeting with each realtor that makes the final cut. Then, choose the realtor to work with, considering the individual’s personality, communication ability, and interpersonal traits.
Are There Any Better Alternatives to the Realtor?
In other words, can you sell property through any other channels better than what realtors offer?
Yes! If you sell directly to cash-buying firms, you don’t need to go through all the potential downsides of dealing with a realtor. Instead, you simply get your property sold without dealing with any middlemen.
The benefits of selling to cash buyers include:
- First, get the best deals on your property.
- Sell your house in the shortest time possible.
- Finally, avoid the complications and efforts that go into selling a property.
However, just as with realtors, you need to filter these companies before selecting anyone.
Nonetheless, we have saved you countless work hours by providing the best company in the cash-buying space: Florida Home Buyers.
With this company, you get the utmost convenience, speed, simplicity, and the best prices for your property. All you need is to sign up and contact them.
The choice of a realtor can make or mar the sale of your property. You can, however, save yourself from lots of issues by choosing the best. Then, if you want to avoid the realtor dilemma altogether, you can sell to excellent cash-buying companies like Florida Home Buyers.