After working hard to keep your home looking great, as well as adding to it over the years, bringing in a realtor and handing them a portion of the proceeds of a sale can be a rather difficult thing to do. That is why so many homeowners tend to contemplate going at it alone. Of course, there are a few downsides to going this route. This is why it is so important to understand the process in order for you to come to make an educated decision on such a serious issue. So, is selling your home without a real estate agent a good thing to do? Read on to learn about a few of the reasons why you may or may not want a real estate agent by your side.
Answer: While they need to be paid, a real estate agent makes the process much easier
Yes, bringing in a real estate agent to help you with the home selling process is highly recommended. Too often, homeowners tend to only see the work that a real estate agent does when they are with them. Things such as speaking to buyers, showing them around the house, or simply moving furniture around to make the space look better may seem like not a lot of work to some homeowners. However, the fact is that there are many things that are going on in the background and even after hours that you are simply not going to see or have to deal with. Tasks such as posting listings, answering emails and phone calls all day as well as talking to professionals (home inspectors) are just a few of the things that your real estate will do for you.
You may be telling yourself that you can answer emails and phone calls with no problem. Although that is still possible for you to do, it is the amount of time that it takes to deal with these tasks that is also a benefit of having an agent. It's not likely that you will want to stop what you are doing at work or with your family to talk to potential buyers for hours on end.
The process of selling your home without a realtor is very similar to when you actually bring someone on board with you. However, when you are listing your home as FSBO or for sale by the owner, you are then responsible for adding your home to the MLS or multiple listing service. This is a database where real estate agents input seller information and where other agents can then see that your home is for sale. However, not just anyone can get a hold of this database. Thus you will need to pay a hefty fee to insert your home into it. As you may have already noticed, not having a real estate agent by your side may not be the best idea, especially if this is the first time that you're going through the home selling process.
There’s a lot of information floating around online about real estate agents. This article focuses on the basics. It’s important to check out as much information as you can before making a decision. These resources should hopefully help starting to search.
- Investopedia - This is one of the most well-known websites on the internet and used by people all around the United States. If you are not familiar with some of the real estate terms used during the selling process, Investopedia can provide quick and easy-to-understand definitions. This article looks at the multiple listing service.
- IRS.gov - Selling a home is not only difficult in terms of all the tasks you need to keep up with, but also the tax implications of it all. Thus it is important to go through the IRS.gov website to learn all about the different taxes or rebates you may need to deal with throughout the process.
- Rocket Mortgage - Rocket mortgage is one of the biggest mortgage lenders in the world. This article focuses on whether or not a realtor is needed during the house buying process, rather than the selling process.