If you are planning on selling your home, its important to know whether you have the time, energy, sources of information and contacts to actually do the job properly. As a If you were 'do-it-yourself' person, do you feel your results will be as good or better than the results achieved through professional assistance? Do you feel you will have the time? Will you be able to achieve the highest possible price for your home? There are obvious advantages to both.

Pricing

This process of selling your home begins with arriving at the correct price to market your home. A comparative market analysis by your realtor will help you know what is going on in the marketplace as well as key factors such as the price, condition and financing terms of competing properties.  

Marketing

The next step is a marketing plan. Often, your agent can recommend repairs or cosmetic work that will significantly enhance the salability of the property. Marketing includes the exposure of your property to other real estate agents and the public. In many markets across the country, over 50% of real estate sales are cooperative sales; that is, a real estate agent other than yours brings in the buyer. Your agent acts as the marketing coordinator, disbursing information about your property to other real estate agents through a Multiple Listing Service or other cooperative marketing networks, open houses for agents, etc.

Advertising is part of marketing. The choice of media and frequency of advertising depends a lot on the property and specific market. For example, in some areas, newspaper advertising generates phone calls to the real estate office but statistically has minimum effectiveness in selling a specific property. Overexposure of a property in any media may give a buyer the impression the property is distressed or the seller is desperate. Your real estate agent will know when, where and how to advertise your property.

There is a misconception that advertising sells real estate. The National Association of REALTORS® studies show that 82% of real estate sales are the result of agent contacts through previous clients, referrals, friends and family, and personal contacts.

Security

You control the amount of security when you use a real estate professional. If you do not wish to let strangers into your home, simply let your agent know. Agents will typically pre-screen and accompany potential qualified buyers through your property.

Negotiating

Your agent can help you objectively evaluate every buyer's proposal without compromising your marketing position. This initial agreement is only the beginning of a process of appraisals, inspections, and financing -- a lot of possible pitfalls. Your agent can help you write a legally binding, win-win agreement that will be more likely to make it through the process.

Monitoring, Renegotiating and Closing

Several issues may arise between the initial sales agreement and settlement (close of escrow). There may be repairs that you are required to complete or there may be issues with the financing that your buyers are trying to obtain. The required paperwork alone is overwhelming for most sellers. Your agent is the best person to objectively help you resolve these issues and move the transaction to closing (or settlement).

How Do Real Estate Agents Get Paid?

Real estate agents or brokers are generally paid through the sales commission paid by the seller at the close of escrow. Since agents have financial obligations and a host of expenses, it is mutually beneficial to stick with the same real estate agent throughout the selling process.