By Ros Burton (Principal – The Real Estate People)
Selling a property can be a complex and overwhelming process, and many homeowners consider selling their homes without the help of a real estate agent to save on commission fees.
However, there are several compelling reasons why paying commission (when selling) is worth it.
In this blog post, we’ll explore the value that real estate agents bring to the table and why selling a home without professional assistance may not be the best option.
The value of a real estate agent
Real estate agents bring a wealth of knowledge, experience, and resources to the table, making the commission they earn well-deserved (though some will always argue otherwise).
Here are some key reasons why paying commission for their services is justified:
- Market expertise: Real estate agents have a deep understanding of the local housing market. They can provide valuable insights into current market trends, comparable home sales, and pricing strategies to help you sell your home at the best possible price.
- Marketing and exposure: Agents also have the resources and expertise to effectively market your home. From professional photography and staging to listing your home on multiple platforms, they can maximise exposure and attract potential buyers.
- Negotiation skills: One of the most critical aspects of selling a home is negotiation (something many of us aren’t comfortable with). Real estate agents are skilled negotiators who can represent your best interests and secure the most favourable terms during the sales process.
- Legal and administrative support: Selling a home involves a significant amount of paperwork and legal intricacies. Agents can navigate these complexities, ensuring that all documents are properly handled and that the transaction adheres to legal requirements.
- Time and stress savings: Selling a home can be time-consuming and stressful. By entrusting the process to a real estate agent, you can save valuable time and alleviate the burden of managing every aspect of the sale.
Why not sell it yourself
While it may be tempting to sell your home without a real estate agent to avoid paying commission, there are several pitfalls to consider:
- Limited exposure: Without a real estate agent’s network and marketing resources, your home may not receive the exposure it needs to attract a wide pool of potential buyers.
- Pricing challenges: Determining the right listing price for your home requires a deep understanding of the market. Without professional guidance, you may inadvertently underprice (or overprice) your home, leading to missed opportunities or prolonged time on the market.
- Legal risks: Real estate transactions involve legal intricacies that can be challenging to navigate without professional assistance. Mistakes in this area can be costly and lead to legal disputes down the line.
- Emotional attachment: Selling a home can be an emotional process. Having an agent as a “buffer” can help you make objective decisions and avoid being swayed by emotions during negotiations.
While paying commission (on selling a home) may seem like an additional expense, the value that real estate agents bring to the table often outweighs the cost.
Their expertise, resources, and support throughout the selling process can ultimately result in a smoother, more profitable transaction.
It’s something we do every day at The Real Estate People, so if you need some professional help selling your home, remember we’re only a phone call away – (07) 4633 8899.
We’d love to help.