4.9 million existing homes were sold in 2014, according to data from the National Association of Realtors… a very healthy number (and it doesn’t even account for just-built home sales)! But how many of these sellers received the money they initially had in mind? For any home-seller— especially first timers— one fact holds true: you need a realtor! Let’s explore specific reasons why.
Using a Realtor Gets you More $$$!
There’s a reason why “for sale by owner” never caught on. It’s because most homeowners don’t have the home-selling expertise of a licensed realtor. Without this, you won’t know how to ask for (and get) the max amount of money possible when selling. There’s simply too many details— like accounting for depreciation, value-increasing upgrades, and the current condition of the local real estate market. What’s more, without a Multiple Listing Service, fewer potential buyers see your home.
The proof of a realtor’s value is also seen in the numbers: In 2014, the typical “for sale by owner” home sold for $210,000, compared to the more robust $249,000 for agent-assisted home sales (NAR). Not convinced? Even when you factor in that agent-assisted sellers have to pay out a commission, on average this group of people still netted more profit than those who sold their homes on their own.
There’s no Substitute for Experience
Again, experience is the most valuable quality a person can have when selling a property– and you can only get it by having previously sold them! When you work with a realtor, you can rest assured that you’re partnering with someone who has experience in selling properties. In fact, the median amount of experience for a National Association of Realtor’s realtor is 12 years.
Realtors are Great for Home Buyers, Too
In a 2013 Community Preference Survey, 78% of home buyers stated that the quality of their next potential neighborhood was more important than the size of their new potential home. Real estate agents are experts on these market statistics, including crime rates and home appreciation values. They can provide you with reliable information regarding all of these types of questions and give you the assurances you crave.
A Solid Customer Satisfaction Rate
This one is short and sweet: When it comes to selling a property, sellers who used an agent and would “definitely” use the same agent stands at a solid 67% (realtor.org).
So the next time you’re looking to buy or sell a property, entrust this delicate process to a licensed realtor: Your returns and your satisfaction rate depend on it!