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It’s like buying and selling and trading commodities. You can do it. You can go buy gold or copper or oil or wheat futures or pork bellies. If you come into the market every once in awhile and do a deal, it’s likely you’ll not do very well. The rules and market forces can seem obscure. Add to this, information is hard to find…really it’s just not distributed beyond active market participants. Still, you can do it. You may do great and make a lot of money. To me, that’s just speculation on the edge of gambling. Not good risk management.
So why hire a real estate agent? It’s just a home right? What’s so hard about selling a home, right?
There are things we just don’t know. Personally, I would never look to buy or sell a property in a market I’m not familiar. And I’m in the real estate business in Houston every day…evaluating properties and neighborhoods (new and old), underwriting investment deals, advising folks on upcoming infrastructure projects in their area which can materially affect their property value. Know the upcoming planned spending by local government entities affecting an area’s value…do you have time to accumulate all that needed info, digest it, and use it to your advantage?
Or do you have a regular day job and family activities to keep up with?
Would I, as a local real estate expert, go buy or sell properties in Chicago or Boise or Boston or Los Angeles without a local expert to advise me? Not a chance! Understanding a product is one thing. Understanding a product in a given market and knowing the participants, area activities influencing demand, etc… that’s altogether different.
In most cases, it’s just good practice to hire the expert in a given area and product specialty.
Selling your house without an agent as a “For Sale by Owner” (FSBO) may be something you’ve considered. But you should know that, in today’s shifting market, more homeowners are deciding that’s just not worth the risk.
According to the latest data from the National Association of Realtors (NAR), the number of homeowners selling without an agent has hit an all-time low (see graph below):
And for the small number of homeowners who do decide to sell on their own, data shows they’re still not confident they’re making a good choice.
A recent survey finds three out of every four homeowners who don’t plan to use an agent have doubts about whether that’s actually the right decision.
And here’s why. The market is changing – not in a bad way, just in a way that requires a smarter, more strategic approach. And having a real estate expert in your corner really pays off.
Here are just two of the ways an agent’s expertise makes a difference.
1. Getting the Price Right in a Market That’s Evolving
One of the biggest hurdles when selling a house on your own is figuring out the right price. It’s not as simple as picking a number that sounds good or selling your house for what your neighbor’s sold for a few years back – you need to hit the bullseye for where the market is right now. Without an agent’s help, you’re more likely to miss the mark. As Zillow explains:
“Agents are pros when it comes to pricing properties and have their finger on the pulse of your local market. They understand current buying trends and can provide insight into how your home compares to others for sale nearby.”
And here are 2 great, quick read article on the importance of setting the right price for your home – just good info to help you be informed.
The Danger of Overpricing Your Home
Is Your House Priced Too High?
Basically, Agents know what’s really selling, what buyers are willing to pay in your area, and how to position your house to sell quickly. That kind of insight can have a big impact, especially in a market that’s balancing out.
2. Handling (and Actually Understanding) the Legal Documents
There’s also a mountain of documentation when selling a house, including everything from disclosures to contracts. And a mistake can have big legal implications. This is another area where having an agent can help. That’s another good reason to hire a real estate agent.
They’ve handled these documents countless times and know exactly what’s needed to keep everything on track, so you avoid delays. And now that buyers are including more contingencies again and asking for concessions, your agent will guide you through each form step by step, making sure it’s done right and documented correctly the first time.
3. Selling Your House Quickly Even in a Shifting Market
Now that the number of homes for sale has grown, homes aren’t selling at quite the same pace they were. But you can still sell quickly if you have a proven plan to help your house stand out.
Just remember, homeowners don’t have the same network or marketing tools an experienced agent does. So, if you want the process to happen fast, you’ll likely want a pro by your side.
Bottom Line
Having the right agent and the right strategy is key in a shifting market. Let’s connect so you don’t have to take this on solo – and so you can list with confidence, knowing you’ve got expert guidance from day one. You don’t need to hire a real estate agent, but that’s a resource that can help you over the long term.
