Giving the fact that the average family in South Carolina and across the country have encountered financial challenges in recent years due to inflation, it’s not surprising that homeowners looking to sell want to save as much money as they can in the process and make as big of a profit as possible on a sale. Some people think that the way to accomplish these things is to list a home as “For Sale by Owner” (FSBO).
In reality, there are typically several benefits to hiring a listing agent. In fact, when a homeowner opts for a FSBO transaction, it often winds up costing a lot more, not only financially but also in time and effort. Once you understand the benefits of hiring an agent over selling a home as a FSBO deal, you might think twice before putting your name and number on the for-sale sign.
Listing agents have MLS access, homeowners don’t
One of the greatest benefits of hiring a listing agent to sell your home is that he or she will have MLS access. MLS stands for “Multiple Listing Services,” which enables an agent to find all available homes for sale in your area, including those that are off-marketing listings. One of the ways MLS access can help in your home sale is determining a list price.
When your agent taps into MLS listings, a plethora of information becomes available regarding homes that have been listed or sold in your area. This information includes listing prices, details regarding whether a price was lowered to close a deal and the amount of time a house sat on the market. This can help you determine a list price for your home.
Some buyers’ agents won’t show FSBO homes
Another benefit of hiring a listing agent rather than trying to sell your home on your own is that many buyers’ agents prefer to do business with other agents. If you put your house on the market as FSBO, there may be some buyers’ agents who won’t show your home simply because they know there isn’t a listing agent representing the transaction.
An agent helps streamline and expedite the closing process
Unless you have a professional background in real estate sales, you might not even understand all of the real estate terminology contained in a closing contract. Issues regarding a buyer’s qualifications for a mortgage may also arise, in which case, being able to seek guidance from an agent comes in handy.
Also, you might have questions about contingencies or other potential contract issues that you don’t feel equipped to handle on your own. Selling your house might be one of the most important financial transactions of your life. When all is said and done, you might be glad to have a personal representative by your side who is committed to helping you protect your best interests.