Different brokerages have different rules on their E&O (error and omissions) insurance... many insurance policies will not cover an agent if there is litigation and the agent was representing themself. That being aside, there are lots of us who have agreements worked out with a co-worker that we help eachother out when buying or selling our own homes. There is an enormous amount of liability involved with a real estate agent selling their own home. Being we are "professionals" in the field... there is a higher standard placed on a real estate agent representing themselves. In general... it's better to have someone there to represent you whether you are an agent yourself or a non-licensed homeowner. This way it is business and handled by a "neutral" agent. Good post!
I have a house in DE, and chose to hire a Realtor. I know as a Realtor, someone who specializes in the area is better with the market than me doing FSBO. My husband holds a non-active license in DE, and we still chose to go with an experienced Realtor in that area.
I did. I used a real estate agent to sell my home in the past and was happy to do it. It was not my geographic area of expertise and she was the local expert. She knew the local market better and I trusted her. She was fantastic. Plus, I had my own clients that I had to take care of. I did not have the time to dedicate to selling my own home.
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I have to say that it worked out fine. The only thing was that I felt under more scrutiny and pressure from my peers who would be looking at my home (note, I said "home" - apparently I was not as detached as I thought) and judging how I lived, etc.... I used extra care if anything to make sure that it all looked great and was available to show anytime!
When I see an agent selling their property, I am honest but I handle objections diplomatically.
An agent may also have to come to grips with how he or she is perceived by other agents in the area. If he or she is rude, doesn't return feedback calls, and is generally a bully in negotiations - it might be best to hire another agent! (What comes around goes around. It's human nature.)
I'm sure you'll get answers saying that one way is better than the other. We listed our own home last year. While it didn't sell, our situation changed where we no longer needed to move so it wasn't a big deal.
Some agents may not want to hear all the comments about their own home, although it makes you know exactly what a seller is going through. It was rough at times for us, mainly because we had a 3 month old baby at the time.
If your broker will allow you to do it, our take is why not? You'll just save that portion of the commission when it sells.