The National Association of Realtors Homebuyers and Sellers Profile states the trend in owners trying to sell their home themselves has declined over the past ten years from 14% in 2003 to only 9% in 2014. Similarly, the number of buyers purchasing directly through an owner has decreased from 2001 to 2014 from 15% to 5%.
It is natural to think that a seller wants to get the highest price for their property while the buyer wants to pay the least possible. Negotiations may be the most valuable service provided by an agent because of the clear conflicts of interest between a seller and a buyer such as the price, terms, and condition of the property.
Other aspects of the transaction that could affect a party without an agent:
- A real estate agent who represents the other party
- An attorney who represents only one party
- Home and pest inspectors regarding condition
- The buyer’s lender regarding terms
- The lender’s appraiser regarding value
- The title company in an effort to satisfy challenges to clear title
- Municipal authorities to mitigate code violations
To help you navigate through the process of buying or selling a house, talk to Josh or Jennifer Ivey, your trusted real estate advisors.