As the seller of a home, you are typically responsible for paying your residential real estate agent's fees, if you choose to hire an agent. Some people look at the amount a real estate agent charges and decide not to pay it — to just sell the home without an agent. Generally, this is not a wise choice. While hiring an agent does cost some money, agents can save you money in many other ways and also make the home selling process easier. Here are some reasons why it can be worth hiring a residential realtor as a seller.
They'll tell you what changes are worth making
People often fix up their homes a little before putting them on the market. Some fixes can make a home more attractive to buyers and earn you more money on the sale. Others don't. It's not always easy to know which changes are worth making and which ones are not. A residential realtor will look over your specific home and let you know which, if any, updates are worth making before you sell. This will keep you from wasting money on updates that don't pay off. It will also ensure you make the small changes that ultimately earn you more money.
They'll set a good asking price
The asking price you assign to your home will make a huge difference in how your sale process proceeds. Set the price too high, and you may not get any offers, meaning the home will sit on the market without a buyer for too long. Set the price too low, and you may cause buyers to under-value it and make lower offers. An agent will know how to price your home to earn you the absolute most for it.
They'll take care of the complicated paperwork
Real estate sales are heavily regulated in the United States. With all of this regulation comes a lot of paperwork related to everything from lead to loans. Navigating this paperwork is tough, and if you don't do it correctly, there can even be legal consequences. Real estate agents are experienced with this paperwork, which will simplify things greatly for you.
Hiring a real estate agent does cost money, but this is one of those situations in which you need to spend money to make money. If you pay an agent, you'll be grateful that you did once the sale goes through.