Do I Need A Real Estate Agent to Sell My Home?
Quick & Easy Cash Offer
No Agent = No Fees
No Expensive Repairs
We’ll Take It As-Is
Hiring a real estate agent makes selling your home generally an easy process for you. However, one major drawback is the real estate agent commission fee, which is a huge chunk of the sale price. Now you might ask, do you really need a real estate agent to sell your home? Here are some insights.
Is it a legal requirement to hire a real estate agent?
You are not legally required to hire a real estate agent when you are selling your home, so it is perfectly fine if you decide to take on the tasks yourself. In this case, the process is called FSBO or “For Sale By Owner.”
However, you may be required to hire a real estate attorney to complete the paperwork. This requirement is not applicable in all states. Currently, some of the states that require a real estate attorney are New Jersey, Pennsylvania, Maryland, Massachusetts, New Hampshire, etc. Keep in mind that requirements can change from time to time, so be sure to check your state’s latest updates when you do decide to sell.
What should I do if I decide to not hire an agent?
While home sellers are not legally bound to hire the services of a real estate agent, the process can be difficult especially if you are a first-time home seller or if you simply do not have the time or energy to accomplish all tasks yourself. In a nutshell, here are some things you need to know when you decide to forego the services of an agent:
1. Remember, pricing your home just right is crucial in a successful sale. To get the correct price, you will need a Comparative Market Analysis (CMA). Do some online research to get an idea of your home’s value and look for comparable properties that are:
- within 1/4 to 1/2 of a mile from your property
- listed within the last 3 months
- built around the same year as your property
- similar to your home in terms of square footage (10% difference is allowable)
A property that is overpriced can end up being a stagnant listing, so this step is extremely important.
2. Be ready to spend a lot of time on marketing. To be able to sell your home successfully, you need to find the right buyers. And to find buyers, you need the right marketing strategy. On top of preparing your home to make it sell fast, you need to assume the tasks and responsibilities of an agent, such as:
- Getting your listing on the MLS (multiple listing service)
- Hiring a professional photographer for crisp, clear photos.
- Writing descriptions that captivate the buyers
- Having a strong online presence (social media is key!)
- Setting up 3D tours, and more.
3. Be conscious of the real estate regulations in your area, including fair housing laws, paperwork requirements for listing, paperwork for closing, and the disclosure laws to name a few.
4. Prepare to receive feedback, negotiations, and offers, and do your best to not get defensive if it is not favorable for you. It can be difficult to remove yourself from the transaction and not get emotional. Afterall, it’s your property that is involved in the process.
Can I still hire an agent even if I had initially decided to do an FSBO?
If eventually, you decide to drop everything and hire a real estate agent instead, you can do so. Many people do this because they either need help with the paperwork or they realize that it’s a lot easier to sell with a real estate agent.
Now, when you hire a real estate agent, be prepared to cut 5-6% of the sale price for the commission fee. Selling a home requires skills and knowledge, and you pay a fee for that.
If you do not want to pay real estate commission fees or do not have the confidence to do a FSBO, you can still sell your home. At We Buy Any House Fast, you can sell your house fast in three simple steps! Get a quick, fair market-value offer on your house now by calling us at 1-800-976-SOLD!