5 Myths About Hiring a Real Estate Agent
The first step to selling a home is to hire a real estate agent. However, some sellers may be apprehensive about taking this step if they believe common misconceptions about real estate agents. From commission price to scope of work, there are many myths to debunk surrounding real estate agents and their home-selling tactics.
At Mark Spain Real Estate, our industry experts will help you make informed decisions on selling your home. Working with one of our experienced listing agents will equip you with the resources needed to experience a successful sale. If you’ve consumed misinformation about real estate agents, we’re here to do some serious debunking. Read below for our top five myths about hiring a real estate agent.
5 Myths About Hiring a Real Estate Agent
You Don’t Need a Real Estate Agent
While real estate agents aren’t required to sell a home, they are highly recommended. With valuable industry experience and exclusive market insight, a seasoned real estate agent is your best bet at a quick, stress-free sale. Some ambitious sellers choose to forgo a real estate agent and take the sell-by-owner approach. While this route does save you money on agent commission and gives you complete control over the selling process, it’s the much more difficult option.
Selling a home with a real estate agent offers several advantages over selling by owner, including faster sales, valuable marketing tools, and helpful pricing and home staging strategies. So, while hiring a real estate agent isn’t necessary to sell a home, it’s usually a worthwhile investment that will significantly pay off in the long run.
Real Estate Agents are Expensive
There are many misconceptions about the cost of real estate agents. Many sellers think that real estate agents make a fortune from every sale. However, they only come home with a small portion of a sale in the form of a commission. This commission is evenly split between them and the buyer’s agent after the real estate broker’s fee is omitted.
The standard commission for a real estate agent is 6% of the home’s sale price. This cost is subjective, but more likely than not, it will prove its value. Expenses tend to pile up when selling a home by owner, with a low return on investment. However, with a real estate agent, paying commission is well worthwhile for a seamless, stress-free selling experience.
All Real Estate Agents are the Same
Real estate agents aren’t one size fits all. Though they all go through the same licensing process, each real estate agent has their specialties and strong suits. As you consider a real estate agent, it’s easy to go with the first one you find. However, you’ll want to be selective and find someone with relevant experience. From familiarity with your local market to experience selling your property type, there’s a long list of criteria to follow when hiring a real estate agent.
Buyer’s Agents and Listing Agents Do the Same Job
While buyers and sellers agents work toward the same goal, they have different responsibilities. Resonating with their name, a buyer’s agent helps someone buy a home. They will tour homes with clients, assist them in sourcing a mortgage loan, share information about residential areas, and help them navigate the overall home-buying process.
Listing agents’ responsibilities center around selling a client’s property. From setting a listing price to marketing the home throughout their network, a listing agent is very hands-on in the selling process. Ultimately, selling agents are here to help you sell your home fast and for the right price. At Mark Spain Real Estate, our professionals work as buying and listing agents to help you meet your real estate goals and start a new chapter.
You Cannot Switch Your Agent Midway
Most sellers think that once they hire an agent, they’re stuck with them. However, there’s always a way out. Typically, contracts will bind you to your agent for six months to a year. If you’ve signed an agreement with a real estate agent, you can typically pay a cancellation fee to end the arrangement. However, you’ll want to avoid this situation altogether if you can.
Choosing the right real estate agent on the first try is easy if you put in the necessary time and effort. As a seller, you’ll want to research candidates and interview them to see how they align with your selling needs and goals. You should also request references for your prospects to judge their performance with former clients. Doing so will ensure you hire the best-fit real estate agent right off the bat.
Sell a Home with Mark Spain Real Estate
Are you hiring a real estate agent to sell your home? The industry professionals at Mark Spain Real Estate are your best pick! Delivering unparalleled customer satisfaction, our team of experienced listing consultants promises a seamless and stress-free selling experience! Check out our Guaranteed Offer Program for the potential to receive a competitive cash offer on your home in only 21 days. Contact our agents today!
Buying A Home, Selling a Home