Hiring a Realtor to Sell Your House
You in particular may question hiring a Realtor to sell your house.
Well, just to clarify, yes, you should hire a Realtor to sell your house.
Firstly, I am a Realtor myself.
I know what you’re thinking to yourself as a result of that statement.
“As a Realtor, why wouldn’t he say yes?”
Besides the fact that I am a Realtor, that’s not why I said yes.
Statistically, hiring a Realtor to sell your house can save time and money.
Furthermore, I also state the various benefits of hiring a Realtor to sell your house.
I will indeed talk about the various FSBO statistics as well.
Because, you know, the internet makes us believe we can do it all.
But, before we get started, I want to list a few facts.
According to the National Association of Realtors®, 5.34 million existing homes were sold in 2019.
And guess what?
Realtors accounted for an unquestionable 89% of those homes sales.
Secondly, homes typically sold for 99% of their listing price.
Last but not least, the typical home sale took three weeks.
Are you still interested in knowing why you should consider hiring a Realtor to sell your house?
If so, follow along.
- Inside Knowledge
- More Likely to Sell for More Money
- Network of Professionals
- Marketing Strategies
- Save Time and Money
- Negotiating Skills
With the consent of the seller, a Realtor can actively advertise the listing before going live.
Under these circumstances, this would be called a “pocket listing.”
A real estate agent may choose to advertise as a “coming soon” listing via email.
For example, let’s say I am listing your home for sale.
Meanwhile, we have all agreed the listing is going on the market in five days.
You also have given me the authority to advertise as “coming soon.”
Next, an email list of every Realtor in the area will be used.
Finally, I send out an email to hundreds of agents that may have a buyer.
Wouldn’t you love to have the potential to get your home sold before hitting the market?
What If Your House Doesn’t Sell Before Hitting the Market?
You may ask, “what if a buyer is not found during the coming soon phase?”
As a Realtor in particular, we know what the buyer pool is best for your home.
Therefore, we will actively market to that specific pool of buyer type or niche.
For example, marketing a home with a first-floor master bedroom to older homebuyers.
Also, marketing a home within a specific price point and location to first-time homebuyers.
However, we as Realtors can’t get too specific with the intended pool of home buyers.
This is because we may end up getting fined with the accusation of “steering.”
The last thing any Realtor wants is to get penalized for disobeying Fair Housing Laws.
Even if it was unintentional, it doesn’t matter, the law is the law.
Another benefit of hiring a Realtor to sell your house is the ability to correctly price the home.
Your real estate agent will more than likely complete a Comparative Market Analysis.
Otherwise known as a CMA.
The agent will select properties of like-kind of which sold within the last six months.
Distance-wise, the comps will typically be no further than a mile away.
A good Realtor will also the current market conditions as well.
Meanwhile, homeowners going online to look at Zestimates is not a market report, at all.
More Likely to Sell for More Money
Contrary to popular belief, FSBO’s may lose money by going this route.
The National Association of Realtors® (NAR) statistics show FSBO’s typically sold for $200,000.
However, agent-assisted homes typically sold for $280,000.
Simple math and common sense tell me that is an $80,000 difference!
NAR’s statistics also show FSBO’s only accounted for 11% of home sales in 2018.
Home sellers that chose to hire a Realtor accounted for the remaining 89% of home sales.
In 2019, only 8% of sellers chose to sell their homes themselves.
Clearly, this is proof Realtors are far from being replaced.
Getting the price right was the most difficult task according to 19% of FSBO’s
Realtors and appraisers are still the best sources for pricing a home correctly.
Network of Professionals
Hiring a Realtor to sell your house can be a great decision because of their network.
As mentioned earlier, Realtors have a large network of other Realtors.
This indeed allows your home to get exposed to a large pool of industry professionals.
The additional benefit is that one of those professionals may have potential buyers for your home.
Realtors also know tradesmen, closing attorneys, lenders, inspectors, stagers, etc.
If you’re going FSBO, you’re responsible for seeking all of the services needed.
More than likely, you won’t save any money doing going that route.
For example, let’s say an agent constantly refers to HVAC contractor Just Chill LLC.
Subsequently, the HVAC contractor may cut a small percentage of their regular service charge.
This kind of gesture would be done as a favor to the agent.
Because that continues the likelihood of future referrals from the Realtor.
But that all depends on the relationship between the Realtor and the vendor.
Our relationship with vendors may save you money as the seller.
One of the reasons for hiring a Realtor to sell your house is because of our marketing strategies.
I also have a page on this website titled “Real Estate Services to Sell Your Home.”
To clarify, this page is loaded with marketing statistics and lists all of the various services I offer.
Still not convinced that hiring a Realtor to sell your house is necessary?
You certainly will after this statement.
So, ask yourself, is the price worth it just for temporary use?
Why not just hire a Realtor?
We are already members of the MLS!
Another thing we as Realtors are good at is making your home more presentable to buyers.
I cannot begin to tell you how many times I have seen shabby iPhone pictures on FSBO listings.
Yes, the iPhone camera is undoubtedly great.
But it’s not professional photography, which is an art.
There is a heck of a lot more to it than just snapping a picture and then posting it.
Other marketing strategies may include mailing out “Just Listed” postcards or social media ads.
There are so many ways to advertise products or services nowadays.
Save Time and Money
You should know that selling a house most definitely takes a lot of work.
Clever stated that 36% of sellers think selling without an agent will save them money.
Wrong. *Donald trump gif*
Clever also mentioned FSBO’s took an average of 19 days longer to sell.
As a result, 70% of FSBO’s stated they had a very difficult time selling their home.
What if you’re a person with kids, a full-time job, or health issues?
How are you going to handle this endeavor?
In addition to that, how good are your negotiation skills?
Therefore, you should definitely consider hiring a Realtor to sell your house.
It’s Our Job
On the other hand, let’s look at the profession of a Realtor from a different perspective.
Obviously anyone can read articles and watch YouTube tutorials.
Rather they’re about various trade skills plumbing and carpentry.
So, once you sell your home, are you going to attempt to build your next home?
Do you think you’re going to “save money” by doing so?
If you said yes, obviously, you just don’t want to be wrong.
Homebuilders still have their place in the market.
And as a Realtor, I still have a place in the market.
Without a doubt, the internet provides us with a huge amount of information.
But, professionals of such are still very relevant, and for a good reason.
In short, a professional can make difficult tasks look easy.
FSBO’s are also known to attract fewer offers.
However, this can be for a variety of reasons.
Anything such as poor marketing or the home being overpriced can be a factor.
When I say this, I do not mean to come off as a rude person whatsoever.
But oftentimes, FSBO’s may come off as incompetent when it comes to the paperwork.
The wording of the various documents may cause a lot of confusion and frustration.
Especially if you’re not used to them.
Nevertheless, we as Realtors know the language.
So, this is where we come in and consult you as the seller.
The language of contracts is certainly not something that can be learned in a few days or weeks.
Laws and regulations stated within the documents are always changing.
In short, hiring a Realtor to sell your house can void you from the aggravation of such.
The Last Reason to Consider Hiring a Realtor to Sell Your House: Negotiating Skills
The skill level of a negotiator will have one of the two results.
You either you save a lot of money or you lose a lot of money.
Just about anything within reason is surely negotiable.
For example, the remaining amount of propane stored in the tank can be prorated.
Likewise, HOA dues can be prorated as well.
But you have to be able to comprehend the language of contracts and documents.
Or else, the buyer’s agent may ring more out of you than if you were to hire a Realtor.
You may take that statement to be cruel and harsh, but unfortunately, that’s just how it goes.
One should indeed remember that everyone is looking out for their own best interest.
Negotiation is yet another reason why you should consider hiring a Realtor to sell your house.
Conclusion to Hiring a Realtor to Sell Your House
Without a doubt, the many benefits of hiring a Realtor to sell your house has been clearly stated.
In addition to that, I have also provided key FSBO statistics.
The numbers undoubtedly prove it may not worth the time and effort to go FSBO.
All of the statements I have made are also backed up by reputable sources.
Furthermore, they have all been linked to the writing.
Therefore, I did not write this article to give another annoying sales pitch.
Personally, as a Realtor, I am all about facts and statistics.
Without a doubt, the numbers are the true selling points to hiring a Realtor to sell your house.
Hiring a Realtor to sell your house is for your best interest from a financial standpoint.
In conclusion, sometimes being cheap upfront can and will cost you in the long run.
Key Takeaways of Hiring a Realtor to Sell Your House
- As a result, hiring a Realtor may save you a lot of time and money.
- Meanwhile, going FSBO may be a bad choice financially.
- The result of a Realtor’s marketing strategies could mean a faster home sale.
- Likewise, a Realtor’s referral partners may offer services that could also contribute to a faster home sale.
- Most importantly, hiring a Realtor to sell your house may certainly increase profits.
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