With so much information constantly at our fingertips thanks to the internet, it’s tempting to believe we can do things ourselves that we would otherwise hire a professional to do. Buying and selling homes is no different. Many of us now start questioning what a reasonable real estate commission is and whether we can save some money by doing it ourselves.
Do I need a real estate agent to sell my house?
In short, yes. Real estate agents are licensed professionals who go through years of training to specialise in their field. If you’re sick, you go to a doctor. If you’re filing a lawsuit, you go to a solicitor. So why wouldn’t you go to a real estate agent to sell your house? After all, this is what they do day in, day out. No amount of Googling will give you the same amount of knowledge and understanding as a professional real estate agent.
But aside from their expertise, what exactly are the benefits of using real estate agents?
They save you money
Although on paper it may seem like you’re giving away a chunk of money, using a real estate agent can actually save you money and may even help you make some too. They are trained to give you an accurate valuation of your property and are experienced in marketing, advertising and sourcing potential buyers. They know when a house is underpriced or when a buyer is willing to pay more than they’re offering and they’ll make sure that you get every cent you deserve from your property.
Without a real estate agent in your corner, you’ll be largely on your own - and unless you have extensive experience in the property market, you’ll be putting yourself at a disadvantage when going to market. Think of hiring a real estate agent like investing in a good financial planner - yes, you pay them a fee, but in the end, the amount they help you save and invest more than makes up for it.
No endless paperwork
One of the best qualities of a good real estate agent is their ability to organise all the paperwork efficiently and effectively - and there is a lot of paperwork. Your real estate agent will submit and file all of your necessary real estate agreements and records, not to mention sort out all of the advertising and promotional content needed to advertise your home. Buying a property and moving house is already stressful, why add to that with unnecessary paperwork?
Take advantage of someone else’s expertise and let your real estate agent take care of it. They fill out this kind of paperwork on a daily basis and will do a faster and better job than you ever could. It also minimises the risk of avoidable and potentially costly mistakes.
One of the most common questions asked by potential sellers is “how much commission does a real estate agent get?” Using an agency that operates under fixed pricing or a flat fee (as opposed to a real estate agent commission percentage) eliminates this issue completely.
Fixed pricing means that no matter how much your property eventually sells for, the fee will not increase. This allows you to budget from the beginning as you know exactly where you stand in terms of cost. It also guarantees that your agent will put the same amount of effort into selling a $500,000 home as they would a $5,000,000 property and, ultimately, get you the best possible price.
Companies like Upside who operate under fixed pricing ensure that you get the best possible value for money. With agent commission, open house management, advertising, appraisals and photography, copy, floor-plans all included in the fee, you know you’re getting a thorough and reliable service.
While it might be tempting to “save” money by doing it yourself, you probably cost yourself more than the agency fee. Consider the agent’s commission an investment. Though it may look like a loss at the beginning, it will almost certainly save you money in the long run.
- Are real estate commissions too high?
- How much are real estate agent fees and commissions in Victoria?
- What it's like working with a real estate agent
Get a free online property estimate from Upside today or chat to an agent about an onsite appraisal to find out the market value of your home.