If you’re thinking of selling your home, you might be wondering whether you really need to work with a real estate agent. After all, it’s tempting to avoid paying more than you have to, especially in this economy — why pay a Realtor’s commission on top of all the other closing costs? But real estate deals are complex and involve large amounts of money, and there are many good reasons to have an expert on your side. Hiring a Realtor can be well worth the extra cost.
“Many people think that a real estate agent turns the key, opens the door and collects a big, fat commission check eight to 10 weeks later — nothing could be further from the truth,” says Michael Shapot, a Realtor with Keller Williams in New York City. “A real estate agent is a problem solver and logistics coordinator. We provide emotional support and ensure that the process runs smoothly. We help all the parties play nicely enough in the sandbox to guarantee that a sale ensues.”
Here’s a closer look at the benefits of using a real estate agent rather than going it alone.
Agents can get you a better deal
First and foremost, working with an agent when selling your home is likely to land you a higher selling price, and a more favorable deal.
According to a 2021 report from the National Association of Realtors, the typical for sale by owner (FSBO) home sold for $260,000 compared to $318,000 for agent-assisted home sales. That’s $58,000 more in the pockets of sellers using an agent — more than enough to cover the cost of commissions and still have a healthy profit.
It’s not just agents who recommend using agents. Shaun Martin of We Buy Houses in Denver, a home-buying company, agrees that having a Realtor on your team makes sense. “An experienced Realtor will be able to help you determine the right asking price for your home based on recent sales of similar homes in your area,” he says.
Your home’s listing will get broader exposure
“A Realtor will be able to effectively market your home to potential buyers,” says Martin. “This includes creating eye-catching listing descriptions, taking professional photos and using the latest technology to market your home online.”
An agent will also make sure your home is added to the local MLS, or multiple listing service, which other agents use to help find listings that match their clients’ needs. This means many more people will see your listing — and more exposure means more people who might want to buy it. With a …….