Home Improvement, Moving and Storage

Disadvantages of Using a Real Estate Agent

Some homeowners who are preparing to sell their homes quickly come to the conclusion that they are not knowledgeable enough about the selling process to attempt an FSBO (For Sale by Owner). Other homeowners know they just don’t want to be bothered by the DIY process; “Always hire a pro!” is their motto. A third type of homeowner sits on the bubble, wondering if they should (or shouldn’t) hire a real estate agent to sell their house.

Which type of home seller are you? If you’re really on the bubble, you’ll want to investigate the home selling process as well as the advantages and disadvantages of using a real estate agent. Today’s topic is about some disadvantages.

The Number One Reason

An estimated 93 percent of home sellers work with an agent – at least to some extent during the selling process. But the number one reason many DIY home sellers site as a disadvantage of working with an agent is paying a sales commission to the agent. A typical agent’s commission on the sale of a house is 6 percent of the sale price. Many homeowners are very reluctant to pay any sales commission.

Success vs Time

Most home sellers who plan to partner with an agent interview a number of agents and hope to select the most successful person to represent their home. After all, a successful agent has a lot of clients and sales. He or she will most likely sell your home quickly and at a great price, right?

Keep in mind that a successful agent is also likely to be a very busy agent. Will that successful agent be able (and willing) to devote the amount of time needed to ensure that your home is well prepared and represented throughout the time it is on the market? Your super-busy agent may not give your home the marketing time and attention it needs.

Some busy/successful agents are masters of time management and responsiveness. They return calls in a timely manner, follow up on paperwork, rarely miss deadlines, and always manage to keep your best interests in mind. Other busy/successful agents fail in one or more of these important areas. You may feel increasingly frustrated at the lack of responsiveness and results.

The Middleman

Some home sellers and buyers find that a real estate agent is sometimes an inconvenient middleman in the deal making process. You’d think the transaction should be fairly simple and straightforward – you have a home for sale and someone wants to buy it. The middleman (agent) may be pressuring you and the buyer to hurry to an agreement that may or may not be in the best interest of you, or the buyer, or both parties.

Personality and Honor (or Not)
Despite doing your due diligence in selecting a real estate agent, personality conflicts may arise after you have signed with your agent. These things happen and the only resolution may be to review the contractual agreement to determine if, how, and when it can be terminated.

Another risk or disadvantage happens when the agent turns out to be dishonest. Your home may be sold at a less profitable price or information you share in confidence with the agent is used for fraudulent purposes.

Before you plan to put your house up for sale, determine what kind of home seller you are. If you are a DIY-I-prefer-control person, the FSBO plan might work well for you. There usually are advantages and disadvantages to almost any undertaking and for you, the disadvantages of working with a real estate agent may far outweigh the advantages. Only you can make this decision.

Best wishes for the sale of your home.

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Thank you for reading.

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Please note the content is not intended to be, legal or investment advice. You should consult a licensed attorney or realtor for advice regarding your individual situation.

Source: http://EzineArticles.com/9022324