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But the speed at which the market is moving right now is precisely why buyers and sellers need a professional to guide them and make sure they don't get left in the dust. There's Still A Lot Of Paperwork - Sellers actually have more paperwork to manage than buyers, as they have to sign a listing agreement with the agent and complete a lengthy seller disclosure. Like buyers agents, sellers agents are adept at paperwork and carry liability insurance to protect against costly errors. While it may be tempting to go it alone, buyers and sellers agents provide invaluable services, protect your interests, and are even more helpful in today's fast-paced market.

More specifically, contingencies give you a way to cancel the contract and get your earnest money back if something goes wrong, like your lending falls through or the inspection uncovers major problems the seller isn't willing to repair. If the seller refuses, or if there are major issues that make you not want to purchase the home, you can cancel the contract under your inspection contingency. Just like with any other type of insurance, it's important to carefully read the policy and know what's covered and what's excluded, what your deductible is, and if you need to purchase any additional insurance, like flood, that isn't included. Your agent may also suggest purchasing a home warranty during this time that will repair or replace major systems that fail in the home within a specific time frame (usually 1 year after closing, but there are many warranty plans available).

To move your property faster, an agent can help best price it from the outset, market it – particularly on the ever-important Multiple Listing Service (MLS) – and assist in objective staging that can help you sell quicker. According to the National Association of REALTORS®, in 2018, the typical FSBO home sold for $200,000 compared to $280,000 for agent-assisted homes. That’s why the expertise of an agent can be reassuring – and may also explain why of the 36% of owners who initially attempt FSBO, only 11% end up doing it solo, according to Zillow research. While the idea of saving money by not paying a real estate agent commission may seem appealing on the surface, even a shallow dive into the details reveals potential pitfalls and risks that may end up costing sellers far more than the amount of a commission by going it alone.

According to the 2018 Zillow Group Consumer Housing Trends Report, 72% of sellers in urban areas and 63% in suburban areas hold an open house. With COVID-19 putting an end to open houses in some areas, here are five other ways to boost traffic to your home right now. Stage a Virtual Tour: With the increased reliance on video conferencing platforms during COVID-19, some shoppers may want to leverage the technology for a virtual tour of your property. That way, they can ask the agent questions in real time, ask to look more closely at certain areas or view spaces that may not be highlighted in photos or videos.