It’s an issue as old as the business of the real estate. But it’s not asked as much as you would think, since a real estate agent is what most people use. In reality, a study conducted in 2018(Opens in a new window) found that 90 percent of consumers use an agent when selling or purchasing a home. And we’re not surprised, as though what is always a time-consuming and nuanced operation, we will advise most individuals to put an agent to work with them.
However, buying or selling a house is not difficult on your own and can make more sense, depending on your situation. But before taking the plunge, there are some definite considerations you would want to bear in mind, which we will go through later.
There are so many benefits that we do not know where to begin.
But this is possibly the biggest one: getting access to the Multiple Listing Service, aka MLS. This is an online directory that only brokers and agents have access to. It’s a massive list of checked listings and features almost every home on the market. Getting your home listed on the MLS means it’s going to be seen by many more people. And getting access to the MLS means you won’t run into any of the uncertain listings usually found on free websites if you are looking for a home.
Here are a few drawbacks of not hiring an agent. To begin with, you won’t have any of the benefits discussed above. But, honestly, the time you would need to devote to buying or selling your home is one of the most significant drawbacks of not using an agent. When selling, this is particularly true, as you will have to put all the effort into posting online or wherever you plan to list your home. You will also not be eligible to list on the MLS, which will significantly decrease your visibility to potential buyers.
This is what we just said, so we will stress it again: Time. In order to try to sell your home without an agent, you would have to spend a lot of time working. A home sight unseen is seldom purchased by buyers. So, at all hours of the day and night, you’ll keep busy fielding phone calls and emails to arrange viewings and answer any questions potential buyers have about your house. Usually, this becomes a very negative effect on your personal time and potentially frustrating.