The time has come to put your house on the market. Whether you’re needing to move to your children’s preferred school’s catchment area, or are just looking for a new adventure, selling your home is the first step. But is this something you should tackle on your own, or is it one of those jobs that is best left to the professionals?
Here are the pros & cons of using a realtor to sell your home.
Experience & Expertise
There is always a ‘Guide to selling your home for dummies’ type article or book you could read, but nothing beats having real world experience and professional expertise. A realtor will know more about the real estate market, and will often have a whole network of professionals that could help with things like staging, and any home renovations that may be required in order to get top rand for your home.
Having a real estate license and working for a reputable real estate office comes with many perks, one being having access to a network of potential buyers right at their fingertips. Marketing your home to the right type of buyer may be a little more difficult on your own.
Similar to what we mentioned above, realtors will also have a network of professional photographers, and often have a close working relationship with a few preferred photographers in the area. This is a major perk as part of their service to you will be professional photographs of your home that they will include in any adverts they create for your home. Remember, it is in their best interest to sell your home for the most possible, so they will work hard to ensure your home looks as beautiful as possible. Attempting this on your own may result in sub-par photographs, or forking out some cash to hire a photographer yourself.
Unless you have sold homes before or have hit up many flea markets in your time, negotiating pricing with potential buyers can make you feel way out of your depth. This is definitely one that is best left to the professionals.
One major downside in using a realtor is having to pay commission. When you sell your home on your own, all profits go to you, whereas with a realtor, you will have to either pay them a flat fee (less common), or a commission percentage of what your home sells for. This is especially an issue if your profit is going to be minimal, because after realtor fees you could be left with minimal. If the profit is looking like it will be large, then spending the money to hire a professional may be worth the shot!
While the expertise and the visibility may be a huge plus, keep in mind that hiring a realtor leaves you with less control over the sale. Yes, you do have the ultimate say on whether you sell your house for a particular price, but you could end up with a realtor that does not make you a priority, drags out the selling process and keeps you waiting, or one who does not negotiate effectively.
While there are definitely more pros then cons of hiring a realtor to sell your home, be sure to brush up on them before making your final decision.