Why use a professional estate agent to sell your home?

Some homeowners believe that selling their home on their own will save them money. However, it is important that you are aware of certain key issues before you undertake this process on your own and understand why having a professional real estate agent justifies the investment in their commission.

Some homeowners believe they can save thousands of euros by selling their home without the assistance of an estate agent. However, they often underestimate the effort, time and expense involved, and are soon faced with the need for exceptional negotiation skills, legal knowledge and a deep understanding of the market to achieve a successful sale on their own. 

Here are some arguments that demonstrate how the value of hiring an estate agent far outweighs the expense of their commission.

1. Real estate agents have extensive promotion and advertising networks

As real estate agents, we maintain an active network of buyers and contacts who are aware of our new properties on the market. We make sure that any new listings we add are communicated immediately. Although an owner may think they have a considerable network to promote their property, this will undoubtedly be much more limited compared to our base of potential buyers. As a result, the homeowner may face a longer wait time to sell their home and may not get the price they want.

In addition, it is important to consider that in some countries, buyers often hire real estate agents to assist them in their search for a new home. In the case of properties sold directly by the owner, these agents may be disincentivised to show the property if there is no commission available to compensate them for their services.

In addition, as real estate agents, we have access to multiple listing services (MLS), especially on international advertising networks, allowing millions of potential buyers to view properties for sale. Owners trying to sell their property on their own often do not have the opportunity to list their property on the MLS, or are forced to cover the cost of listing their property on these international portals out of their own pocket.

2. The agents represent the sales activity of a property.

Selling your own home can be an emotional process, so hiring a real estate agent to represent your interests helps maintain an objective perspective. With an agent, the seller is less likely to make mistakes such as overpricing, being offended by lower-than-expected purchase offers, or not making the most of their negotiating position. As real estate professionals, we take it upon ourselves to communicate with potential buyers on behalf of the seller, avoiding the urgency, desperation or lack of cooperation that can often arise in a direct sale by the owner.

Without the representation of an estate agent, sellers face rejection, disappointment and negative reviews head-on. An agent, on the other hand, can address these issues constructively, offering advice, exploring options and formulating more professional responses together with the seller.

3. Real estate agents bear the costs of advertising.

If a homeowner decides to sell their home without the assistance of a real estate agent, they will be responsible for covering the costs associated with property enhancement, photography and videography, as well as marketing costs. These costs can vary considerably depending on the vendors hired, their level of expertise and the quality of presentation desired. In addition, it is essential to bear in mind that organising open days and viewings by appointment requires significant effort and time, which will need to be coordinated within the vendor's working hours and other responsibilities. It is also common to receive a large number of enquiries, often from people who are unqualified or simply curious about the property.

It is important to note that selling the property without an agent does not necessarily eliminate all associated expenses. In certain markets, buyers are often represented by a real estate agent, who may request a commission from the seller (usually around 3%) for services rendered to the buyer in the transaction.

For most sellers, having a real estate agent manage all these aspects is a worthwhile investment. As agents, we take care of presenting the property to prospective buyers, conducting high quality photo and video shoots, and listing the property on multiple listing services (MLS) and other key portals. We also take care of scheduling and managing open days, viewings and all enquiries, according to your availability. In this way, the seller does not need to rearrange their life or sacrifice work time to show the property.

4. A real estate agent knows the legal aspects of a real estate sale and purchase.

The sale of a property is a legal contract that involves negotiating and managing all the associated documentation. A seller who decides to handle the process on his own will be responsible for coordinating the legal interactions with the buyer, his lawyer, the home inspector, the appraiser and the bank. In addition, he or she will have to manage the legal negotiations and procedures with both the buyer and the financial institutions involved. Sellers who are unfamiliar with the regulations, terminology and process may face legal complications if they do not get it right. In some countries, certain jurisdictions have specific regulations for the sale of property, and may even require the presence of a lawyer specialising in real estate to complete the transaction.

In short, having a real estate agent offers multiple advantages. People who choose to sell their properties on their own often do so with the expectation of making a higher profit. However, real estate agents possess the necessary experience and skills in price evaluation, marketing and negotiation. As a result, sellers who attempt to handle the sale themselves may end up making less profit than if they had hired an agent and paid a commission. In addition, the selling process can take considerably longer, as the pool of potential buyers is smaller and the market reach is limited by the seller's marketing budget and knowledge of the real estate industry.

Selling a house on one's own account involves a complete reorganisation of daily life until the sale is completed. The seller must be aware of the time, effort and financial resources that this task requires. In general, it is advisable for sellers to consider hiring a real estate agent, who will provide expert guidance throughout the process.