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Using a Real Estate Agent or going at it alone?

The main reason that home owners decide to sell their homes themselves is to save the commission charged by a real estate agent. The commission rate varies, depending on which marketing package you choose. Weighing against that commission rate are the advantages that having an agent offers.

Advantages of using a real estate agent:

Handling your own sale means you will be responsible for placing ads, answering phones and showing your home to strangers, a real estate agent has marketing systems in place for listing and selling homes.
An agent will take the potential buyer through the home at scheduled times, an agent can sell the house, not just show the house.
Your house is on the market 24/7 via multiple websites, virtual tours and more.
Modern technology allows agents to use electronic lock boxes. When they are used, information is uploaded to the agents access site where he/she is able to look at who, where, and when. Your house is available for showings at all times, not just when you are available to let someone in.
The Agent is experienced in the local market and will help you determine a proper selling price.
The agent will negotiate with the buyer for you.
The agent can find qualified buyers.
An agent can offer advice on preparing the house for a faster sale, and closer to the asking price.
When you are selling on your own buyers who know you are saving on an agent's commission may offer less for your home, wiping out the financial incentive to do it all yourself.
Remember: a real estate agent probably knows a lot more about the business of selling a home than you do.

In the end the decision is yours. If you have lots of spare time, and some experience that will allow you to research the market, establish a competitive price and then show and sell your home, you may feel going it alone is the answer. If your time is valuable, the commission a real estate agent takes will more than pay for itself.

Posted by Jese Gonzalez ~ El Paso Homes on 07/10/2008 09:55 AM

Comments (9)

el paso real estate, selling a home

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9 Comments on Using a Real Estate Agent or going at it alone?

#9 would be "9. When you're" or "When you are" - Pet peeve - LOL

The speed at which a Realtor can get the word out is breathtaking too. Would you rather sell it today or by years end?

07/10/2008 10:03 AM

by Randall ~ @ ~ Access e Mortgage

Jese, These are well thought out points for sellers to consider, I recently wrote a blog about a similar thought and took the position we are great spam blockers for these sellers, weeding out the lookers and the tire kickers, and making the sure the real ones stick.. Steve

07/10/2008 10:05 AM

by Steve Loynd, Alpine Lakes Real Estate Inc., Loon Mt, NH.

In this market trying to flip a property or needing to move within a few years is more risky than a more normal market.

07/10/2008 10:26 AM

by Robert Machado, CPM MPM Sacramento Area Property Manager and Property Management (HomePointe Property Management, CRMC)

Good advice and thanks for sharing with us. I just seen 3 FSBO's in the same condo community go up for sale.

07/10/2008 10:33 AM

by Gene Allen Realtor Hampton Roads Real Estate (Resh Realty Group)

There is a reason I don't replace my own water heater or roof. There are experts with the right tools to do it better, do it right and do it faster. Still have to do my research to get the quality professional versus the hack... but at the end of the day, the competent pro is who delivers the best results.

07/10/2008 01:50 PM

by Glenn Phillips (Management, Coach, Speaker) (RealSource)

Jese, The learn all those reasons in the long run. Unless they get really lucky, it only takes a couple weeks for them to realize just how hard it really is to sell a home. It's fairly easy for an agent to market a home since we have the tools available to us, and we do this every day.

07/11/2008 12:05 AM

by Bob Cumiskey, US Army Retired, Your Sun City Center, Florida ~ Realtor (A 1 Connection Realty, Inc.)

My response is not from the side as a Realtor, but many years ago, when I was younger, I purchased a home from a for sale by owner, the host of issues that cropped up, created a great deal of tension and exasperation, especially with the writing of the contract, and just getting things to move to closing. The issues involved were to many to list, and I vowed never to go that route again. I rather pay someone for their time and expertise, saves, me time, money and ulcers in the long run. That is why I do not do my own plumbing, or carpentry, some things are best left to those with experience.

07/11/2008 03:14 PM

by Paul LeMay (Keller Williams )

Jese great post and topic. I have a 1 page outline of such pros and cons in my listing presentation. Its a great tool. The key is showing them something you can do that they cannot.

A determined FSBO will try to pick a Realtor's brain and apply what they learn. If you reveal tools and skills they have no access to or are not capable of doing, they will be more likely to list with you.

07/12/2008 01:36 AM

by Mike Wong Realtor, GRI (Keller Williams Realty Southwest)

Good post - you point out a lot of the facets of selling real estate that FSBO's don't consider in advance.

07/12/2008 10:09 AM

by Carol Zingone, Broker Associate, GRI, SRES (Vanguard GMAC)

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