Do I Need a Real Estate Agent to Sell My House?
If you’re ready to put your house on the market, you may be wondering if you could sell it yourself. There’s no doubt that cutting out the real estate agent will save you money on fees, but will it end up costing you in other ways?
Real Estate Agents bring time, experience, a whole lot of expertise to the sales process. They are here to make it quicker and easier to complete your sale. Here are just some of the ways they can help you sell your home.
The right price for your home
When your real estate agent sets a target price for your property, they take into account the market, demand, and all the factors that make your house unique. This includes the style of building and garden, area, views and the current financial climate.
As a market expert, your real estate agent is well placed to suggest and achieve a realistic value for your property. Using a real estate agent gives you peace of mind that you’re getting what your property is worth, without pricing yourself out of the market. This in turn gives you value for money from the process of selling your home.
The right process to sell your property
Once you engage a real estate agent to market and sell your home, the details are taken care of. They photograph, describe and list your property, and manage any enquiries that come from that listing.
As well as sharing details of your listing with their existing database of buyers, real estate agents also work within agencies or teams so your property is also shared with other agents. In fact, a key part of the process is always to share your property with all the agents within the company.
Your agent will manage the security and sales process as they bring each buyer through your home, pointing out key features and bringing to life the desirability and features of the area. Once the buyer is across the line, they’ll manage any price negotiations and ensure the right process is followed ethically and legally to ensure all parties are treated fairly.
The right skills to sell your property
Do you have great marketing, communication, organisational, negotiation and administration skills? Your real estate agent does. Real estate agents have passed exams to prove that they have these attributes. They also complete annual professional development to make sure they are more than capable of selling your home.
Your commission pays for this experience and expertise. Your real estate agent will use it to guide both you and your buyer through the sales process, and get you the price you want for your home.
The right understanding of compliance
Regardless of whether you are selling your property privately or via an agent, you must ensure that buyers are aware of any issues. This includes notification of any outstanding consents. Ignoring or denying a problem can invite legal action up to 7 years after the purchase date.
Real estate agents bring years of experience to your sale, helping both you and your buyer to understand and deal with issues like Leaky Homes; Dux Quest plumbing; Asbestos; Methamphetamine and/or Toxicology Reports; and Tax and Brightline Tax.
Where you see an insurmountable hurdle to get to your sale. Your real estate agent can help you to inform your buyers without putting them off the opportunity. Real estate agents can guide you through this process, minimising the potential for last minute compliance bills and costly legal action after settlement. They can also identify which problems should be fixed before going to market to help increase the value of your property.
The right contract to seal the deal
Conveyancing is the legal work that’s done whenever a house is bought or sold. It is also where the greatest legal risk lies. Once you’ve signed the Sale & Purchase Agreement, it’s legally binding. Whether you’re a buyer or a seller it’s important to know that the right paperwork is in place.
Your real estate agent will manage all the legal documentation related to your sale. That can include checking the title of the property to make you aware of anything out of the ordinary, negotiating the Sale & Purchase agreement to ensure all parties are protected legally, and liaising with both the vendor & purchasers lawyers and any other professionals.
Do you need a real estate agent to sell your home?
It’s possible to sell your house on your own, but if you choose to use a real estate agent there are lots of benefits to enjoy.
For the cost of your fee you’ll gain access to a wide range of expertise and skills; the time needed to properly market and sell your property; a database of buyers and a team of agents ready to sell; and the legal expertise needed to get the sale across the line.
So while it is common for many homeowners to consider selling their own properties, most come to the realisation that there is far more skill and experience required than it first seems. Property is generally our most valuable asset, so if you want the best price, consider getting a trained professional to sell it.