Sunday, 25th of July 2010 at 05:54:52 PMDuring tough times we try to save every dollar we can and try to remove every unnecessary expense possible. So when it comes time to sell the house we see how much we spend on agents commission and think we can save that money.
But there is a false economy, especially in a weak real estate market, for not hiring a real estate agent.
Tara Struyk at Forbes has a great article outlining Five Reasons Why You Still Need A Real Estate Agent. It is worth a read. If you do not have the time here is a high-level summary:
1. Better Access/More Convenience
A real estate agent’s job is to act as a liaison between buyers and sellers. This means that he or she will have easy access to all other properties listed by other agents.
2. Negotiating Is Tricky Business
Many people don’t like the idea of doing a real estate deal through an agent and feel that direct negotiation between buyers and sellers is more transparent and allows the parties to better look after their own best interests. This is probably true–assuming that both the buyer and seller in a given transaction are reasonable people who are able to get along. Unfortunately, this isn’t always an easy relationship.
3. Contracts Can Be Hard To Handle
An experienced real estate agent deals with the same contracts and conditions on a regular basis, and are familiar with which conditions should be used, when they can safely be removed and how to use the contract to protect you, whether you’re buying or selling a home.
4. Real Estate Agents Can’t Lie
Well, OK, actually they can. But because they are licensed professionals there are more repercussions if they do than for a private buyer or seller.
5. Not Everyone Can Save Money
Many people eschew using a real estate agent to save money, but keep in mind that it is unlikely that both the buyer and seller will reap the benefits of not having to pay commissions.
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