Hiring a legal professional who knows about real estate to do the paperwork is recommended when it comes to closing the sale.
Using "For Sale By Owner" does work for many sellers, but there are times when to hiring an Estate Agent makes sense if FSBO is not working for sellers.
Generating leads from property portals can be useful to pass onto the agent that has been selected for many reasons, often which trust in the agent is a major one, as often agents are friends or friends of friends.
The time to consider adding an estate agent to the sales process can be when not enough enquiries are coming through, or the price may not be correctly positioned, or the legal paperwork is something the seller wants help with.
An agent can help with pricing, marketing, or listing on an MLS site in a specific country, and they may know local demand levels.
Agent-listed homes often sell for more on average than FSBO, but portals are well-known for reaching buyers and investors outside of the country where the property is located. Both options can work, and using both way to market a property is often very useful.
Attracting buyers can come from any source from online listings, to social media, but there will be a time that the seller and buyer will want to get the paper work in order.
The name of the person who you are looking for will depend on where you live. In Europe there are Solicitors, and in the US there are Real Estate Attorneys and Lawyers. They all perform similar tasks to ensure that the contracts are done correctly, and payments go through.
You do not necessarily need a real estate agent once the buyer confirms their willingness to purchase, but the documentation needed for the mortgage, title transfer and other legal requirements for a property sale is extensive. If you're not using a real estate agent or a broker, you need to or should use a lawyer or solicitor.
The big savings to be made are in not using a Realtor or Estate Agent, as this can be anywhere from 3-6% or more of the sale price in commission. The cost of using a lawyer may run into several $100 dollars or Euros or more, but the peace of mind knowing someone has checked the documentation is worth it.
