Will You Save Money by Buying or Selling on Your Own?
How much money will you save by buying and/or selling without an agent?
Some people think that because technology has made things easier in today’s market, they no longer need to hire an agent to work with them. After all, won’t buying or selling on your own help you save money? Today I’ll discuss a few key things you should know if you plan to operate on your own without the help of a real estate professional.
First, who is going to look out for your best interests? When you’re selling your home, you need to consider all your offers, whether they’re from Zillow, Opendoor, or an iBuyer. To assess which offers are good, you need a real estate professional to guide you through the process. Long-term relationships with our clients are what matter to us most. When it comes to iBuyers, we’ll compare their offers to the open market, allowing clients to make the best decisions for themselves.
Though it’s only a small percentage of the time, sometimes it makes sense to sell to an iBuyer. However, you need to remember that iBuyers are in business to make a profit. They want built-in equity right off the bat because they have to fix that property up before putting it right back on the market to sell for full value. That’s why you need to consider how much you’ll truly be saving by selling on your own. If you don’t use an agent, you could be leaving thousands—if not tens of thousands—on the table.
Who you work with matters more than ever.
On the flip side, if you’re going to buy a home, it might seem tempting to go directly to the listing agent to save money by avoiding commission. Remember, however, that the seller’s agent has a contract with the seller, which gives them a fiduciary responsibility to get the seller the most money possible. So by going directly to the listing agent, you’re not necessarily saving money. You don’t know what the comps for the property are like or what the other offers on the home are.
You may have had some bad experiences with Realtors before, but this is likely going to be the biggest purchase or sale of your life. Who you work with matters more than ever.
If you have any questions about the buying or selling process, feel free to give me a call. I’d be happy to help you.