Do you need to sell your house and are looking whether to sell it on your own or with a real estate agent? With all the advantages that real estate agents bring to the table, it’s no wonder why more than 85% of home sellers in the U.S. prefer to work with an agent. However, working with a great real estate agent/broker doesn’t come without its shortcomings; and we understand how these can make or break a deal, so let’s go over a few setbacks that home sellers had faced with real estate agents and hopefully help you prepare before hiring one.
No Guaranteed Days on the Market
The chances of selling real estate are highly influenced by market conditions. If you are selling in a buyer’s market (high inventory, low number of buyers), your house would probably sit on the MLS longer than the average days on the market. A great real estate agent can identify your home’s selling points, help you make a very compelling advertisement, prepare your home for your target buyers, set the right selling price, and the like; but at the end of the day, if it isn’t the right time for your buyers, it will not be the right time for your home to be sold either.
Take note that the longer your house sits on the market, the more difficult it might be to sell the house because future buyers would suspect that something is wrong with your home. Moreover, if your home continues to rack up more days on the market, there is a high chance that your real estate agent will advise you to reduce your selling price to attract buyers. On the other hand, if you sell FSBO, no one would pressure you to reduce your price at all.
Hefty Commission Fees
When selling a house, the average commission fee is 6% of the purchase price — 3% goes to the seller’s agent, while the other 3% goes to the buyer’s agent. Now, don’t be misled by the phrase “buyer’s agent” and think that you’d only have to pay 3% because, in real estate etiquette, it is the seller who also pays for the buyer’s agent.
So if you sell your house for $188,000, $11,280 of that would be split between your agent and your buyer’s agent. $11,280 can go a long way if you keep it, especially when you’re also walking on a tight rope with your relocation budget. So yes, commission fees can be too much.
No Guaranteed Sale
No matter how experienced or reputable a real estate agent is, a sale always boils down to whether or not the buyer wants to proceed. One can only influence a buyer’s decision but can never control it completely.
If you’ve spent months or weeks in the closing phase and the only thing left to do is for your buyer to sign the papers, your buyer can still back out at the last minute — even it means losing their earnest money.
Condition, Aesthetics, and Presentation Is Important
When selling on the market, there’s no question that your home or listing has to stand out from an ocean of competitors. Real estate agents know that to be competitive means setting the right price, offering the lowest price, and making your place appealing as much as possible. So yes, you can say that the MLS may not be the best avenue for fixer-upper houses, but if you do push forward with it, your real estate agent would most likely recommend that you fix your house first.
More than increasing your home’s appeal, repairs and renovations would also increase your home’s value. This is because people are willing to pay for better livability, functionality, durability, and aesthetics.
Agents Who Can’t Connect With You
Selling your home is big and personal. With this, you need a real estate agent who gets your situation, where you are coming from, your personality, and how you want to go about your sale. Agent compatibility is an important factor that’s often overlooked when home sellers interview their real estate agents. Skills and portfolio are great, but remember that when things get rough, you want your agent to be on your side and do what’s best for you.
Mind you, some homeowners prefer a quieter selling process over a hefty sale price. This means that it doesn’t matter if the home is purchased at a price way below the asking price, as long as your sale/home doesn’t get into a frenzy with a lot of home viewers.
If you don’t want to gamble your time with these possible setbacks, though, you can also sell your home directly to us. No real estate agents, no commission, no setbacks — just a faster, smoother, and less costly way to sell your home.
With a direct sale to Spire Home Buyers, you do not have to stress or worry about any repairs because we buy homes in as-is condition, saving you time and money. We pay in full cash, and we can close as fast as seven days. To learn more, leave us a message by filling in the form below, or give our team a call today at (678) 318 – 1801!