Real estate agents have been around for a long time. They used to be almost a necessity when transacting in the private or resale market. Today, we are equipped with new technologies that can help us to make safe and informed decisions when selling our properties. Can these technologies fill the gap of the real estate agents? How are there still so many consumers seeking out agents even with these technologies?
Selling your property is a stressful process, especially if this is your first time.
From beautifying your property and taking the correct pictures and angles, to listing it on many different platforms and responding to repetitive enquiries, to ensuring that the sale goes through smoothly and without any legal hiccups, selling your property is an extremely hands-on process.
We sell our properties hoping that we can cash out on our investment, or to upgrade to a better home for our family.
Engaging a real-estate agent helps to alleviate the stress and work required, but it eats into our profit margins. That is why many of us choose the ‘do-it-yourself’ (DIY) method of selling our property.
There are many benefits of engaging a real-estate agent that most home owners tend to overlook. In a bid to save the cost of engaging an agent, DIY sellers may end up reducing their profits even more than if they were to engage an agent would have.
Whether you choose to engage an agent or to do-it-yourself, here are some benefits of engaging a real estate agent to sell your home.
Benefits of Using a Real Estate Agent
You can spend more time on other matters
Buyers come in many different forms: some are not seriously looking, some might be night-owls, others may ask many repetitive questions.
Having to constantly respond to inquiries after a long day at work or during a day out with family and friends can make the already stressful process even less enjoyable.
Real estate agents often have a system to respond to a variety of customers, and set-up their communication channels to funnel inquiries.
They will answer their repetitive questions and vet them before arranging a suitable viewing timeslot with you. The real estate agent acts as a layer of checks to ensure that you only entertain potential buyers worthy of your time.
Home viewings can potentially be a big hassle as well. Some customers may prefer to do viewings during the office hours, or push for an extremely last minute, impromptu home viewing right before your Saturday family lunch.
Real estate agents are prepared to handle these situations. Capable agents will keep up with the buyer’s requests and schedules without having to bother you. This means that you don’t have to skip that lunch or take that day off to meet potential buyers.
You can avoid the legalities of transacting property
Houses are likely one of the highest-value transactions you may make in your personal lives. Such high-value transactions are bound to have many rules and regulations attached to them.
In order to sell your HDB or private property, you have to engage a lawyer to handle the conveyancing and paperwork, as well as to protect your own interests as a seller.
If you are selling your HDB, and if you qualify for it, you could engage a HDB lawyer to assist you on this matter. However, this is a lengthy and troublesome process regardless, with all the administrative and consultation fees involved.
Most real estate agents have partner lawyers and law firms that they work with extensively. They will ensure that you receive the best service from these partner law firms.
These are all included in the agent fee that they impose on your sale.
In any case that the sale goes wrong, the agent will bear the consequence of the result. The Council for Estate Agencies keeps these agents accountable for the outcome of any sale or purchase of properties.
Legal troubles are often a big pain in any situation. Engaging an agent gives you a peace of mind.
They have the information to make a better sale
Real estate agents are often making anywhere between 2 to 20 monthly transactions. Furthermore, they usually specialize in a specific district or estate, or a specific type of housing.
Naturally, they have a much clearer view of the real prices of property being sold, as well as demand in different areas and amongst which demographic.
With a clearer understanding of the market, they can sell your property fairly, reaping you the highest reward on your sale in the shortest amount of time.
They can beautify and showcase your home for you
Cleaning up, repainting walls, taking photos and videos in the perfect natural lighting, photo/video editing: you have to do these even before you are able to tell buyers online that your property is on sale.
Unless you are a digital designer or have some experience in this process, this can take hours or days just to take high quality pictures and videos.
Poorly taken photos can affect the buyer’s perception of your property. Your dream buyer, who would be willing to pay a good price for your property, may not even consider setting up a viewing with you if the pictures do not do your property justice.
Real estate agents often know what angles buyers are looking out for. For example, they may choose to take pictures that accentuate the light from the sunrise coming through your windows, or the beautiful and lively environment around your estate.
You should engage agents who have a professional media team that can help to beautify and upsell your property.
Conclusion
While it can be tempting to do it yourself, remember that selling your property is a big process that we do not want to spoil. A wrong misstep can at best reduce our profits, and at worst, get us in trouble with the law.
If you have the expertise and time to make the sale on your own, the DIY route can be a siginificantly more profitable and hands-on approach to selling your property. Otherwise, engaging an agent is most likely a much better option, for only a small price to pay.