Selling your home is your agent\u2019s day job<\/h2>\n
Trying to sell your home yourself is tricky when you\u2019ve got a day job.<\/p>\n
Are you prepared to field phone calls from buyers, arrange showings, keep your home show-ready, evaluate offers, make counter offers, and negotiate on your own behalf\u2014all while juggling the demands of the regular work day?<\/p>\n
The Must-Do list of the FSBO seller is endless.<\/p>\n
Luckily, a real estate agent\u2019s day job is <\/i>to sell your home. While you\u2019re busy living your life and preparing to move, your agent is doing a lot of behind-the-scenes work to coordinate with buyer\u2019s agents and fetch the highest possible price for your house.<\/p>\n Expert agents invest a lot of time in marketing, networking, and actively selling their listings. Just ask Kim Erwin<\/a>, a top-selling agent in Corpus Christi, Texas:<\/p>\n \u201cA common misconception is that an agent just goes and pounds a sign out front and you\u2019re ready to go. I wish it were that way. Sellers don\u2019t realize that you\u2019ve got to get the house ready, you\u2019ve got to market it, you\u2019ve got to get the buyers qualified, and so much more.\u201d<\/p><\/blockquote>\n Some agents even financially invest in making sure your home shows at its very best \u2014 by paying for things like professional photographers and stagers out of their own pockets.<\/p>\n The amount of work it takes to sell a home on your own is probably why so few even try.<\/p>\n According to the National Association of Realtors\u2019 2019 Profile of Home Buyers and Sellers, 89% of sellers<\/a> enlisted the help of a real estate agent to sell their home.<\/p>\n Let\u2019s get into the specifics as to why hiring an agent is in most cases the smart choice.<\/p>\n You may look at your home and think it\u2019s in fine shape. But homes sold as-is get as-is offers \u2014 no matter how good their condition.<\/p>\n Agents know that putting a small investment into improvements can increase your home\u2019s value up to 35%<\/a>.<\/p>\n Unfortunately, some FSBO sellers (who\u2019ve watched one-to-many home improvement shows) wind up investing their money in upgrades that won\u2019t increase the home\u2019s value<\/a> enough to cover the money spent.<\/p>\n \u201cA lot of times, those upgrades aren\u2019t what the market is looking for,\u201d says Erwin.<\/p>\n Just as every home is unique, so is every real estate market.<\/p>\n Even if all your research tells you that some upgrades are guaranteed to increase your home\u2019s value by a certain percentage \u2014 that may not actually be true in your area.<\/p>\n For example, a full kitchen remodel in a luxury home in a high-end neighborhood is likely to provide a good return on investment (ROI). But in more modest neighborhoods and lower price points, you\u2019ll see a better ROI with smaller improvements, like repainting your cabinets and resurfacing your countertops.<\/p>\n An experienced, local agent with lots of active listings knows which improvements and upgrades are worth the investment<\/a> to help your home sell in your neighborhood.<\/p>\n Savvy agents know that listing a home at the right price<\/a> from the very start is one of their most important jobs. Set it too high, and buyers won\u2019t even come look at the home, let alone make an offer.<\/p>\n And if you lower the list price too soon or too often after setting it, buyers and their agents will smell a bargain \u2014 and submit only lowball offers.<\/p>\n Unfortunately, some FSBO sellers still think they know how to price their home without help.<\/p>\n Erwin observes, \u201cA lot of sellers think that they know what their home is worth. But usually an FSBO home is not priced right, and sometimes it doesn\u2019t show right, and therefore they get even a cheaper price when it finally sells.\u201d<\/p>\n Setting the right list price<\/a> (so that your home will sell fast and for the most amount of money) isn\u2019t as easy as simply pricing it the same as recently sold homes in your area.<\/p>\n If that were true, anyone could do it.<\/p>\n Your agent will analyze a number of factors to find your right list price, such as: nearby comps<\/a>, days on market<\/a>, upgrades, regional and local market trends<\/a>, and seller concessions (closing costs, home warranties, incentives, credits for repairs, etc.).<\/p>\n Even if FSBO sellers are able to get their hands on all of this data, most don\u2019t have the training to factor these variables into their list price.<\/p>\n FSBO sellers often feel confident enough make home improvements and list price decisions without an agent\u2019s help.<\/p>\n Then\u2014mistakenly believing that prepping and pricing is the hard part\u2014these FSBO sellers pay a listing service to get their home into the MLS, thinking that\u2019s all they have to do to get their home sold.<\/p>\n Unfortunately, there\u2019s still a lot more that needs to happen. And without an agent, you\u2019ll have no one to guide you through the process.<\/p>\n \u201cThese listing companies say, \u2018I\u2019ll put it in the MLS, but you\u2019re on your own,\u2019\u201d Erwin advises. \u201cAs an FSBO seller, you have to negotiate it yourself.\u201d<\/p>\n When you list with an agent, they become your go-between throughout the entire home sale process.<\/p>\n Your agent will negotiate the initial deal and renegotiate after the inspection and appraisal\u2014working to find concessions that won\u2019t bite into your bottom line.<\/p>\n Having an agent act as your go-between isn\u2019t just helpful during closing<\/a> \u2014 you need that buffer the moment your home is listed. Otherwise, you\u2019ll have no one to arrange showings or to put a lockbox on your home.<\/p>\n Instead, you\u2019ll have to be present at every showing, and you\u2019ll have no way to vet those buyers.<\/p>\n \u201cAre you as an FSBO seller just going to open up your house and let anybody who calls up show up?\u201d Erwin asks. \u201cThat\u2019s why you have an agent \u2014 for privacy, protection, and to facilitate the transaction to a smooth and speedy closing.\u201d<\/p>\n Buyer\u2019s agents know that FSBO sellers are emotionally involved in the home sale. So when an FSBO seller plays hardball during negotiations, they may peg you as a difficult, inflexible seller and walk away from the deal.<\/p>\n When you list with an agent, you have a buffer between you and your buyer so you can avoid those emotionally charged negotiation disagreements.<\/p>\n There are plenty of online resources<\/a> to assist for sale by owner (FSBO) sellers. Tools on the web can help you determine your home’s value<\/a>, research nearby comps, and list your property in the MLS without the help of an agent.<\/p>\n![\"\"](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2018\/09\/realtor-do-i-need-a-real-estate-agent-1.jpg\")
<\/a>1. You need an agent to get your house ready to sell<\/h3>\n
![\"\"](\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2018\/09\/remodeling-do-i-need-a-real-estate-agent.jpg\")
<\/a>2. You need an agent to help you set the right list price<\/h3>\n
3. You need an agent to act as a go-between<\/h3>\n
Still want to DIY? Now at least you know the risks<\/h2>\n