What real use are real estate agents if we can sell our home ourselves?
In: Economics
What’s the value of a good salesperson? A realtor charges about 6% of the value of your home. When you use a realtor, you are betting that they will find and convince a buyer to pay at least 6% more than what you could get on your own. I don’t have that kind of market knowledge or sales skill, so I think that’s a safe bet.
Another historical factor, in the US, is that the National Association of Realtors controls the Multiple Listing Service, which for decades was the only national database of home sales. If you wanted buyers from outside your neighborhood to see your house, or see what similar homes sold for, MLS was your only option, which meant you had no choice but to use a realtor. This has changed recently thanks to sites like Zillow, but the MLS is still a very valuable tool that’s worth paying a realtor for.
Latest Answers