Is it worth it to hire a real estate agent to buy or sell a home?
At Keasy, we get asked this question a lot. It’s not a bad question, considering an agent may add an extra expense onto the final bill of your transaction, but we wholeheartedly believe that agents will help any client and are worth every penny.
That’s largely because buying or selling a home is often one of the most important financial decisions you’ll ever make regardless of if it’s your first, second or third home. There is a a lot involved in the home buying or selling process and it can be stressful, confusing and it’s difficult to keep track of everything. You could try to navigate the process yourself, but taking into account the importance involved, it’s vital you take every step you can to make sure you get it right.
The Keasy Unlock program connects buyers and sellers like you with amazing real estate agents that fit your specific needs. Our team will help you find the perfect agent to sell your existing home, buy that dream house or make the most of a real estate investment. Unlock utilizes a complex algorithm that analyzes and compares millions of Canadian real estate transactions to recommend the best local agents based on your requirements. We can help you receive up to 5% more and sell your home up to two weeks faster than the average real estate transaction in Canada. Keasy Unlock is free to use and the fastest way to meet agents that can put more money in your pocket.
What does a real estate agent do? Why is having a good agent important? How can I work with my agent? Most importantly, how do I find the right real estate agent?
Keep reading and we’ll answer some of the most common questions our clients have as they search for the perfect real estate agent with Keasy.
How does a real estate agent help?
Many buyers and sellers question whether they should conduct their own home sale or home purchase to save on hiring a real estate agent to represent them. While it can be done, the process is far from simple and there are a lot of factors involved in bringing a successful transaction to fruition. Buying or selling a home is a major financial undertaking and we highly recommend you have professional help on your side throughout. Our real estate agents are the best at what they do and have a lot to offer both buyers and sellers.
When buying a home
A real estate agent is a great person to have on your team throughout the home buying process. A great agent is a treasure-trove of knowledge when it comes to the local housing market, its neighbourhoods, and every aspect of buying a home. Their job is to be up to date with what’s available and direct you to the right properties based on your criteria. They will also act as a liaison with the seller and the seller’s agent to schedule showings and make offers. A great agent will also have a database of contacts, clients (including both buyers and sellers) and industry professionals to leverage as they help find you the perfect home. They should have a list of available properties that could be of interest to you ready to go, which could include exclusive listings and private sales. The best agents are experts at making offers, submitting all applicable paperwork, and closing the deal in your favour. It’s important that you are comfortable and trust your agent as they will play a large part in the success of your home hunt.
If buying, your real estate agent from Keasy will:
- Be knowledgeable and up to date with the local/regional housing markets and industry news.
- Have details about the neighbourhoods you’re considering – schools, amenities, demographics, transportation etc.
- Be motivated to find your ideal home and put you in it.
- Conduct property research including daily reviewal of the MLS Hot Sheet or Activity Report.
- Always put your priorities first and will be on your team throughout the transaction.
- Have a list of contacts (clients) and professionals that can help throughout the home buying process.
- Schedule and coordinate showings and meetings.
- Help you decide on an appropriate offer for a home you are interested in and negotiate successfully.
- Properly submit paperwork, real estate documents, agreements, and records.
When selling a home
As with the buying process, a real estate agent (seller’s agent in this case) is your best friend when it comes time to sell a home. Your agent will know what similar homes in your area have been selling for and what you can expect to get. It seems simple but there’s a lot that goes into setting an asking price that will maximize your return, and your agent will help you determine what to ask. Selling your home also requires more than just creating a listing with the MLS or Realtor.ca and sitting back to wait for offers. There’s a great deal of marketing, advertising, and negotiating involved, which is where a great real estate agent will really shine. Your agent can also provide valuable advice on prepping your home for sale – repairs or renovations, home staging, etc.– and will schedule/conduct open houses and more. Your agent will act as liaison between you and the buyer’s agent to make sure the process keeps moving smoothly.
*If you’re thinking about using an exclusive listing for your home, an agent with a large network can be the difference of getting your home sold or not.
If selling, your real estate agent from Keasy will:
- Be able to accurately assess what your home is worth in the current market and correctly set the asking price to get you the most money on your sale.
- Market your home by creating listings with the MLS and Realtor.ca as well as putting together a marketing/advertising package and plan to get your home seen by buyers.
- Advise on repairs or renovations that will increase the value of your home and help it sell.
- Assist with preparing your home for sale. e. – home staging and scheduling/conducting open houses.
- Negotiate with prospective buyers by acting as your liaison.
- Sell your home within a specific time frame.
- Ensure that all details have been addressed and paperwork is correct to close the deal.
Do most people use a real estate agent?
Using a real estate agent to sell a house involves a financial cost. That’s why many homeowners question whether they need a real estate agent to sell their home. The answer is no, it’s not necessary, but you’re likely much better off in the experienced hands of a top agent.
The recent release of OREA’s 2021 Home Buyers & Sellers Report contained a lot of interesting information regarding how sellers and buyers view using a real estate agent to close their transaction. According to the report, an average of 88% of those surveyed said they will use a real estate agent to help them sell their home. Half of those also said they plan to use the same agent for any future real estate transactions. Only 11% of prospective sellers stated they wouldn’t use an agent to help sell a home. On the other hand, 89% of home buyers said they will use a real estate agent to help with their purchase.
The top reasons stated by home buyers and sellers as to why they use an agent were help navigating the process, assistance with paperwork and to help save time. Both first-time and experienced buyers said they wanted the assurance that they were conducting the transaction correctly and most thought the cost was worth the knowledge, support and time savings their agent provided.
Reasons why people use real estate agents
|Reason Given For Using a Real Estate Agent
||% of Respondents That Included This Reason
|An agent will help with paperwork
|An agent will help me navigate the buying or selling process
|An agent will help save time
|An agent will help locate the best home for my needs
|An agent will know what to look out for in any homes we’re viewing
|An agent will help me get the best price or terms, or list my home for the correct value
|An agent gives me peace of mind that my transaction will be successful
|My agent is an expert in the specific neighbourhood or area I’m looking at or selling in
|My agent will help me sell my home
Source: OREA’s 2021 Home Buyers & Sellers Report
Should you use a real estate agent to buy or sell your home?
Tightening competition, for both buyers and sellers has caused a greater need for the expertise of an agent to help make sure transactions are conducted efficiently and successfully. This is one of the biggest and most important transactions you’ll likely make in your life, so ensuring it’s completed successfully is extremely important. Buying or selling a home is not a straightforward process and there are a lot of moving parts to consider and a lot that can go wrong. If you aren’t aware of the dangers, a deal could easily fall through or end up costing you much more time and money than you thought.
The best way to help your purchase or sale run smoothly is to have a trusted professional real estate agent to guide you through the process. We highly recommend you have a top agent helping you through this most important and often stressful transaction. Keasy can help find the perfect agent for you, quickly and easily.
To help make your purchase or sale even better, we’re offering $1,000 in Visa Gift Cards if you close your transaction with a Keasy real estate agent and a further $500 for each further referral. Some restrictions apply, check our referral page here for more details.