Selling a house all by yourself can be both satisfying as well as risky. Hiring an estate agent costs around 6% of the total property sold. So, the estate agent’s share in a property worth $250000 is $15000, which is quite a big sum of money. However, not having an agent could lead you to financial mistakes that could cost you more than what you actually save.
To begin with, the agents are already experienced in the field of selling and buying of properties, due to which they have the complicated paperwork ready at hand. By asking an agent to do it for you, you can save yourself from the trouble of setting the correct price, marketing the home, arranging open houses, enlisting a real estate attorney to handle legal affairs, negotiating with the buyer, etc.
Advertising for your house can be expensive. An estate agent saves your expense and also accelerates the process of advertising by putting the house on the Multiple Listing Service (most buyers would hire agents who will prefer going through the options of the MLS rather than going for any “FOR SALE BY THE OWNER” board outside your house). Also, the agents are well aware of the buyer’s demands. They can highlight the positive factors of the house by minimizing the negatives as much as possible (for example, the house just received a paint job, or the wooden work is a few weeks old, etc.)
Hiring an agent will make sure you get the best and highest price for your property. It also verifies that the buyer deposits the money in your account. If the buyer has an agent, but you don’t, chances are high that you will be asked to settle for a lesser price. Whereas, if you have an agent, he can talk to the buyer’s agent and they can come to terms quickly, in a professional manner, which makes the house-selling process much less stressful and rightly rewarding for you.
You should go for selling your house only if you have had a previous experience in the field (such as being thorough with the terminology and knowing what to expect from your lawyer). If not, hiring a realtor will safeguard your interest by providing you with less time-consuming turnovers, providing professional expertise, saving your time and relieving you of your headaches.