When it comes to selling and buying homes, real estate agents have always played a role in the past. However, is that norm changing now? Is it now possible to sell a home without a real estate agent? CNBC previously reported that, "The U.S.'s complex, fragmented and regulated real estate market is currently putting a cork on a potentially disruptive wave of online-only agents that are shaking the sector overseas."
It is not only the United States that have utilized this process, even the U.K. real estate market has conventionally been led by real estate agents. However, a new wave of online-only real estate agents could grab a bigger share of the U.K. market, potentially allowing Britons to sell their homes without the help of an estate agent as further explained by CNBC.
The question however is that, is it beneficial or will it be more effective? It might be possible, but it may come with a cost. Piper Nichole, author of "For Sale by Owner Handbook" explained that sellers who will not use the services of the listing agent and offer their home as a "for sale by owner" (FSBO) have the potential to save thousands of dollars in agent's fees.' Nichole further explained that FSBO sellers should be prepared to do a lot of legwork to manage the sales process, with no guarantee of a final sale. Bank Rate also explained that "As an FSBO seller, owners may decide not to use a listing agent, but owners will not have any control whether or not a potential buyer wants to use a buyer's agent.
It looks like real estate agents offer more benefits that selling a home without their help. CNBC reported that the National Association of Realtors, which represents real estate agents in North America is not in favor of selling homes without a realtor. Adam DeSanctis, spokesperson for the organization stated that 'Real estate agents here in the U.S. have a unique understanding of what buyers' value in their local markets'.
This clearly indicates that although it is possible to sell a home without the help of the real estate agent, the disadvantages far outweighs its benefits.
