Is it necessary to have a real estate agent? Many sellers wonder this. Do you think you can sell their home on your own? So do many other sellers. Just know that there are advantages and disadvantages either way. Obviously the major advantage to selling your home on your own is that you don’t have to pay a huge commission to a real estate agent. Of course, the major disadvantage is that you have to figure out and learn so many terms of real estate, and all of the laws regarding it to make sure that you know what you are doing; even then, there will be many times that you’ll be stuck and have to seek legal advice with any questions. See: Tips for Selling Your House Yourself – FORBES.
Sometimes people wonder if its illegal to not use an agent. Know that there actually is no requirement or law that makes you use a real estate agent. But, some states do require that you have an agent to handle the paperwork that comes along with the closing. If you don’t know the laws in your state, you need to check to make sure you find out; otherwise, you could definitely get into serious legal trouble.
As mentioned above, you’ll need to learn about the laws regarding real estate transfers. These laws will indicate what kinds of paperwork you will need to prepare as well as who will need to sign what. In addition, you will need to find out what to do if you find that there are any issues with your home, so you can figure out how to handle them. Lastly, some states have mandatory disclosure laws that you will need to follow where you will need to disclose certain physical characteristics of your house. Read: How to Sell Your Home Without a Realtor – CNBC.
If you are serious about listing your home by yourself, it is essential that you consider posting your listing online. There are a number of websites around that are dedicated to helping you sell your home on your own. One of the best things that you can do to get your home sale off the ground is to get your home listed on the Multiple Listing Service (MLS). This is a nationwide service that lists homes for sale that are searchable by area, even neighborhood. There are a number of ways that you can get your home listed on the MLS.
Although you may not need a real estate agent, there may be times when you can use a real estate agent to help you. If you can find a real estate agent that is willing to help you with some of the smaller tasks associated with your home sale, you may be able to work out a compensation plan for the agent that is more to your liking. For example, you could negotiate a smaller commission, or even agree to pay the agent an hourly fee for each hour that he or she works on your home. For further reading, see: 6 Reasons You Should Always Use a Realtor – Realtor.com