When planning to buy or sell a house, some people decide to try going the DIY route. With endless resources available online, it can make many people feel like it’s something they can handle themselves. Why pay a real estate agent a commission when you can do it yourself and pocket the extra money?
However, despite the plethora of information available, some things are better left in the hands of professionals. There are a lot of intricate details involved in real estate transactions, including financial and legal ones. This means that any minor errors you make can end up costing you a lot more than hiring a professional will.
We’ve put together a list of reasons why working with an agent is worth the money. Spare yourself the potential roadblocks and headaches and go with a real estate agent when buying and selling a house.
Table of Contents
Local Experience
Hiring a real estate agent with deep knowledge of the area you’re buying or selling in is a huge asset. They have the tools, resources and network to market your home to buyers who will be most interested in it or help you find the right neighbourhood.
If you’re moving within the same town or city, you might think you know the place like the back of your hand, and you don’t need local experience. But real estate agents study market conditions in your local market and understand the factors that influence it. If you’re buying or selling a home in Oshawa, it’s essential to have an Oshawa real estate agent on your team who can help you navigate the intricacies of the local market.
Mountains of Paperwork
If there’s one thing guaranteed in any real estate transaction, it’s the mountain of paperwork involved. Agents keep all that paperwork organized and can serve as a translator for any real estate or legal jargon those documents entail.
If you misunderstand or overlook something on real estate paperwork, it could come back and end up costing you both money and time down the line. Having a knowledgeable real estate agent can help prevent that from occurring.
More Money
You might pride yourself on your negotiating skills, but your real estate agent is a pro. Not only that, but they have a fiduciary responsibility to get you the best price possible for the property you want to buy or the one you’re planning to sell.
Negotiating is a regular part of an agent’s job, and they understand the tactics that work and the ones that don’t. They can use that experience and knowledge to get you the best price.
Considering that money is the top reason people consider not hiring a real estate agent, homes sold without one typically sell for much less than agent-sold homes, even factoring in the costs saved from commissions and fees. The 2020 Profile of Home Buyers and Sellers from the National Association of Realtors found that For Sale By Owner homes sold at a median of $217,900. While this is up from the year before, it’s still significantly lower than the median of agent-assisted homes at $242,300.
Despite the online resources, they don’t match the education and experience a real estate agent provides. Local real estate agents provide valuable advice and feedback specific to you and your unique circumstances. Choose to hire a professional, and don’t go it alone when buying or selling your house.
