Is Hiring an Agent Really Better Than Selling on Your Own
Logic suggests that giving someone money to do your job is money thrown in the wind but when you give money to professionals - it's never a bad idea. Just like everything else in the world, we pay money to people for doing their job. Real Estate Agents are professionals in selling property and they know best how to make the best of your home. So to give a short answer - yes, hiring an agent is really a better solution than selling on your own.
Now let's explain why. First of all, when you agree with the percentage that the agent will receive of selling your property, you agree to let the agent do their best to sell your home for the highest possible price. The agent will learn everything there is about that property and will know how much money it is worth and how much they can get out of it. Selling at a higher price is better for both the seller and the agent. If the agent sells at a higher price, they'll get a better percentage.
For example, if you agree on 3% and they sell for $200.000, then the agent will get $6.000. If they manage to sell it for $250.000, they'll get 7500 and this is a big difference. At the same time, you as a seller will get over $40.000 more.
If you think that you can do the same and sell your place for the highest price, don't be so sure. Real estate agents are highly skilled and trained to do their job. They know the market and they know what people want and need. Their communication skills are on the highest level too so they know how to bargain and get the best possible price.
Also, there's a ton of paperwork before and after you sell. There's a lot of legal matter too. The agent is familiar with all these stuff and it is nothing new for them. Letting them do this job for you and paying for the service is nothing compared to the frustration and time waste you'll encounter.
Another very important thing that agents will be great for is - advice. They will advise you how to make some small renovations to get a better value on the market for your place. For example, if you invest in a new kitchen or just a small sofa, you'll get a better feel for the buyer when they enter the place. This small investment of just a few dollars will raise the value of the place for more thousand dollars. If you live in an area where people love to have a pool in the backyard, investing in a new pool can make the value of the house higher by more than 30 or 40 thousand dollars. Remember that making a new pool is just a few thousand dollars, so this will be a great deal for you.
Bottom line is, hiring an agent is a great idea and you should always do it instead of selling on your own.