Let’s be honest — selling a home is hard and if you’re thinking “ I need to sell my home fast”, it can be very difficult especially if you’ve never done it before. Not only do you have to compete with other similar properties, but you also have to avoid scams and navigate the complex process. As a result, many people prefer to rely on a realtor and simply wait until they can find a buyer. And while that can seem like a pretty straightforward solution, things are a bit more complex than they seem.
In this article, we are going to take a quick look at the world of real estate and understand why using realtors is not always the best way to sell a home.
Why Shouldn’t You Hire a Real Estate Agent?
Generally speaking, real estate agents can provide a variety of advantages when you want to sell your home. Therefore, you might be tempted to just pick up the phone and call your local brokerage agency. However, before you can make a decision, it’s important to consider the shortcomings of relying on real estate agents.
1. You Will Have to Pay Commissions
If you decide to hire real estate agents, you need to be prepared to pay a hefty commission. The exact amount depends on which agent you go with, but usually, you’ll have to pay up to 6% percent of the home’s price. More specifically, that’s six percent of the total selling price, not of the profit you make. As a result, you can end up making little to no profit while having to pay a stunning commission. A 6% commission on a $200,000 house is $12,000 just in commissions. Once you add in closing costs, repair credits, title fees, brokerage fees, be prepared to spend 10%. Using our example, that’s over $20,000!
2. Some Agents Are Very Busy
At the end of the day, most real estate agents will treat you like one of their many clients. While that might sound good at first, it quickly becomes a nightmare, as you may have a hard time reaching your agent. Even worse, your house may not get the attention it needs, which can result in missed deadlines and broken deals. And since customers have little to no patience, a busy real estate agent can end up pushing away potential clients.
3. Not Every Agent Is a Skilled Professional
Not all real estate agents are the same, meaning that some are more skilled than others. Why is that important? Because a skilled and knowledgeable agent can find you better deals and close them more efficiently. On the other hand, a less experienced agent can interfere with your selling and may lose potential deals. Perhaps you just inherited a property and your agent doesn’t know how to market correctly or who the target audience should be. But what’s worst of all is that it’s hard to figure out the skills of an agent without spending a tremendous amount of time researching their previous deals and credentials.
4. You Add Another Middle Man
Sometimes, a potential customer is also represented by an agent, which only makes things more difficult. And while more agents can push a deal forward much quicker, it usually just slows things down. Not only that, but depending on the skills of both agents, you may end up with a worse deal than you could have gotten by yourself.
5. Agents Have Their Own Goals and Deadlines
When you want to sell a home fast, you have your own goals and priorities. In fact, you’ve most likely created an ideal timeline that helps you schedule your routine. When you involve an agent, you need to adjust your goals and timeline to theirs. For example, if your agent takes more time, you may miss your deadlines, so your timeline will need to change accordingly. In other words, adding new people into the mix will only mess up your schedule and may create conflicting interests.
6. It’s Not Always Faster
Many people believe that hiring a real estate agent is one of the fastest ways to sell your home. However, even if you are paying a hefty price for a skillful agent, he can’t guarantee that you’ll find a buyer faster than usual. And if your agent is unable to find a customer in a timely manner, you might end up paying bills for a house you no longer live in.
What’s the Alternative?
Overall, while real estate agents can help you sell your home, they are usually a mixed bag. So what’s the alternative? After all, you just want to sell your house, right? If you don’t want to deal with realtors, you can always rely on home buying companies. Lewis & Forbes are a better alternative. You need a home buyer.
They will buy your home no matter what condition it is in. And since the service is free of charge, you forego all of the fees, commissions, hassle, waiting around and all of the stress that comes along with selling your home. And most importantly, your house will get sold which is the goal all along.
Lewis & Forbes — Your Local Cash Home Buyers
Here at Lewis & Forbes, we understand that selling a home is a difficult process that’s made even harder by real estate agents. And guess what? We buy houses, including the ugly ones! Luckily, we are here to purchase your home at some of the best prices on the market. House in need of repairs? No problem. Owe taxes on your house? We specialize in that. Looking for a reputable house buying company? That’s us. Our process is fast, effective, and, most importantly, fair, which means that you get a great deal no matter the condition of your home. It’s a win-win!
