An overwhelming majority of recent home buyers this year worked with a real estate agent to purchase a home at 87 percent, according to the 2017 Profile of Home Buyers and Sellers. The top benefits that buyers listed of working with a real estate agent were:
In tough times, most people are looking to cut costs any way they can. And in a home purchase, who wouldn’t want to save that extra 3 percent — an extra $3,000 per $100,000 of the sale price? That’s typically what buyer’s agents make on real estate transactions, and most experts think it’s money well spent.
It’s true that anyone can shop for a house, and even get a peek inside, without formally signing on with a real estate agent. But unless you have time to make home shopping a part-time job, an agent might be able to match you with the perfect property much faster.
Why Use a Realtor?
You’ll experience a wide variety of benefits when you hire a real estate professional. Successfully selling a property is a complicated exercise, and Realtors have the experience, resources and contacts to complete your sale quickly and smoothly.
Pricing
A Realtor will help you determine the selling price of your property at a level that accurately reflects its value in current market conditions and will not cost you missed opportunities.
Marketing
A Realtor will have many useful suggestions o ways to improve the marketability of your property, including cosmetic repairs and other items that will create a favorable impression among buyers.
Your property will enjoy a wider exposure among buyers when you use a Realtor. In addition to using flyers and organizing open house days, a Realtor extensive contact list of former clients, newly qualified buyers and other industry professionals can significantly reduce the time your property is on the market.
A Realtor will also allow you to tap into a highly productive and extensive industry network, such as a Multiple Listing Service or other industry marketing system.
Advertising your property efficiently is another area where a Realtor can play an important role. A Realtor’s experience in deciding on the most appropriate type and frequency of advertising for your property can be invaluable. For example, placing too many ads can create the impression that there may be something wrong with the property or that the seller is desperate.
Security
Security is a major consideration when showing your home. By using a Realtor, you can rest assure that all showings will be pre-screened and supervised.
Negotiating
When negotiating a purchase, most buyers prefer to deal with a middleperson who is objective, unemotional and professional. Buyers will often feel more comfortable with a Realtor than with the owner when they want to raise issue that need resolving before making an offer.
Monitoring, Renegotiating, Closing or Settling
A Realtor will guide you through the minefield of protentional problems associated with the appraisal, inspection and financing process, including the often complicated escrow instructions. In addition, your agent can meet and instruct any specialists or tradespeople who may be required for repairs.
Where a Commission Goes
After a successful sale of your property, the real estate commission is shared among all who assisted in this important transaction. Generally, the commission is divided for ways: to the listing broker, the listing agent, the selling broker and the selling agent. In recognition of the important roles each played in the sale of your property, each is compensated by a percentage of the commission.