7 Benefits of Hiring a Real Estate Agent to Sell Your Home

Hiring a real estate agent makes selling a house a lot easier. You’re also more likely to get the price you want and sell faster in an agent-assisted sale. Find out other benefits of using an agent to sell your home.

Selling a home is a complex process that involves numerous steps, legal requirements, and negotiations. While it's possible to sell your property without the assistance of a real estate agent, doing so can be a daunting task, especially for those who are unfamiliar with the intricacies of the real estate market. Hiring a professional real estate agent can provide numerous benefits that can help you achieve a successful sale and maximise your return on investment.

If you’re selling your home and thinking of not hiring a real estate agent, consider your decision carefully. You might know a few potential buyers, but that isn’t the end of a sale. There are many steps, procedures, and processes involved.

Yes, it’s true that doing all the work alone can help you save on commission you would have paid a real estate agent. But real estate agents do much more than just show your home to people.

Hire a good real estate agent, and they’ll do everything from paperwork to selling your property for the best price. Here are 7 important reasons you need a real estate agent to sell your home.

1. Local Market Expertise

One of the most significant advantages of working with a real estate agent is their in-depth knowledge of the local Australian market. Agents have access to comprehensive data on recent sales, market trends, and buyer preferences in their specific areas, which can be invaluable when pricing your home correctly and attracting potential buyers.

According to a report by CoreLogic, in the 12 months to February 2022, properties sold through real estate agents in Australia achieved a median price 16.9% higher than those sold privately. This highlights the expertise agents bring in pricing and marketing homes effectively.

Additionally, a study by the Real Estate Buyers Agents Association of Australia (REBAA) found that properties sold through buyers' agents achieved an average of 10.8% more than the initial advertised price. While sellers' agents don't directly negotiate on behalf of the seller like buyers' agents do, their market knowledge and negotiation skills can still help sellers secure higher sale prices.

Furthermore, data from the Australian Bureau of Statistics shows that in 2021, only 12.5% of residential property sales were made without the involvement of a real estate agent or related party. This underscores the significant role agents play in facilitating the vast majority of home sales across the country.

2. Marketing and Exposure

Real estate agents have access to a wide range of marketing tools and platforms that can help increase the visibility of your property. They can list your home on multiple listing services (most commonly realestate.com.au and domain.com.au), create professional-quality listings with high-quality photographs and virtual tours, and leverage their network of potential buyers and other agents. According to the realestate.com.au, 89% of buyers used an agent to purchase their home in 2021.

3. Legal and Regulatory Compliance

The sale of a property involves a significant amount of paperwork and legal requirements that can vary depending on the state and local regulations. Real estate agents are familiar with these requirements and can ensure that all necessary documentation is completed accurately and in compliance with the law. This can help you avoid potential legal issues and delays in the sale process.

4. Time and Stress Management

Selling a home can be a time-consuming and stressful process, especially if you're trying to juggle it with other responsibilities. Real estate agents can take care of many of the tasks involved, such as scheduling showings, coordinating with buyers' agents, and handling paperwork, allowing you to focus on other aspects of your life.

5. Access to Professional Networks

Real estate agents have established networks of professionals, including home inspectors, appraisers, and contractors, which can be invaluable when preparing your home for sale or addressing any issues that arise during the process. According to the NAR, 77% of buyers found their real estate agent through a referral from friends or family, or used an agent they had worked with before.

6. Potential Cost Savings

While hiring a real estate agent does involve paying a commission, the benefits they provide can often outweigh the costs. According to a study by Collateral Analytics, homes sold by agents typically sell for higher prices than those sold by owners, even after accounting for the commission. Additionally, agents can help you avoid costly mistakes and ensure that the sale process is handled efficiently and effectively.

7. Negotiating with Buyers

If you want to secure the best possible price for your home, you'll need to negotiate with buyers who have professional representation. The use of buyer's agents has seen explosive growth in Australia in recent years. According to the Real Estate Buyers Agents Association of Australia (REBAA), the industry has grown by over 200% since 2014, with buyer's agents now involved in around 50% of property transactions nationally.

With more and more buyers enlisting experienced professionals to advocate for their interests, it's crucial that sellers also have an agent representing them during negotiations. Your real estate agent will protect your best interests, negotiating not just on the asking price but also other key terms like conditions, settlement costs like conveyancing fees, and the moving date. Having an agent on your side increases your chances of selling your house on favourable terms.

If you're looking to sell your house successfully in Australia, the best approach is to hire a top-performing real estate agent. Minty partners with leading agencies across the country, connecting sellers with agents who have proven track records of helping clients secure outstanding deals. And when Minty connects you with a local partner agent, you only pay a low 1.5% commission rate.

Don't go it alone when selling your home. Reach out to Minty today for a free, no-obligation consultation with one of their top agents in your area.