Do I Need A Real Estate Agent?

Some people ask me, "Leo, do I really need a real estate agent to sell a home?" That is not a simple question with a simple answer. It is a loaded question that can only be answered with more questions, basically.

A real estate agent is a person who has taken classes and passed a test (not an easy test, by the way) proving that he or she has some specialized knowledge. And most states require real estate licensees to continually update their education as well. Finding a buyer is just one of the many, many things a real estate agent knows how to do for you. It is entirely possible that you can find a buyer to sell a home yourself, and I would even encourage you to do that part of the job "by owner". Finding a buyer does not require highly specialized knowledge. But what comes after the handshake and the verbal agreement is another story. It takes specialized legal forms and local real estate knowledge relevant to your city and state. That's the stuff that can make or break your sale transaction, and that's the stuff you may or may not know how to do for yourself.

It's a whole lot easier to buy a home without a real estate agent than it is to sell a home without one. The burden is on the seller to provide the documents and to push those documents through the closing process. Well, that's my perspective anyway. Some people might disagree. I've certainly been the one to handle all the above when I was the buyer, but that is unusual. Usually a buyer expects to be treated somewhat royally, and receive special treatment. Real estate investors are an exception because we are professionals as well, but home buyers who only purchase homes to live in really do expect special treatment. Real estate agents know this very well. They have been trained to take buyers by the hand and lead them through the complex and confusing process of buying a home. That is the part of the job that you, as a seller, would surely prefer to avoid. It's not much fun.

So, if you are prepared to do what needs to be done to sell a home after finding a buyer, then you are all set to close a sale transaction yourself. And that means to wait patiently while your buyer has the house inspected, applies for a mortgage and waits for approval, and obtains property and title insurance prior to closing. Meanwhile, you will be getting a title search done to guarantee the buyer clear title at closing as well. With the help of a good title company, it is possible to bring in a buyer and get a sale transaction closed without a real estate agent, but it is not always smooth and easy. Just be prepared for some adventures along the way!

Comments? Questions? Email Here

© HowtoAdvice.com

How to Advice .com