When it comes to buying or selling a house, taking on an agent can be a major decision. In some cases, an agent may make the entire process easier for you, but in other situations, using an agent may not be cost practical. Below is a list of pros and cons to carefully consider when buying or selling a home.
Selling a Home Pros
A real estate agent has access and knowledge of all the various ways to market your home. He or she will be able to make your home very visible in the market.
This isn’t their first rodeo. A real estate agent will know the ins and outs of selling your home and be able to give you practical advice on the asking price and how to state your house. The agent will also know how to properly show your home and interact with potential buyers.
When an offer has been accepted, a real estate agent will be able to guide you through the process and ensure all legal documentation is completed.
The real estate agent will be able to show your home even if you are unable to be there making your house.
Selling a Home Cons
You will have to pay your agent a certain commission based on the final closing cost. While you may think this ultimately works out for you because the agent will aim to sell the house for as much as possible, they will still be anxious for a paycheck and may cut out your bottom line.
The agent doesn’t need to make your house a priority to sell. He or she can continue selling other houses while your house sits on the market for months.
Buying a Home Pros
Outside of information you can gain online about available houses, an agent will be able to give you more in depth information like the school system, property values, real estate law and other aspects of the process. They may even be able to help you find a mortgage.
You will not have to be super flexible to view homes. An agent has access to show homes even if the seller and their agent are not available. With out the agent, you may not be able to see many homes in one day and you will have to work around when the seller or their agent are available or open houses where there are other potential buyers.
Agents can prepare legal documents and go over them in depth with you. If you don’t use an agent, you may have to seek legal help and have documentation put together by a lawyer who could charge you by the hour.
Real estate agents can negotiate on your behalf without emotions getting involved.
Buying a Home Cons
With all the information online about recently sold homes and homes for sale, it may not seem cost effective to pay an agent for information you can access on your own.
Because the agent has a financial interest in the deal—commission—they may push you to choose and make an offer on a home before you are truly ready.