Homeowners Selling Homes Without Real Estate Agents

Posted on: August 21, 2015 by Newmark Insurance

While selling a home can be an overwhelming task, homeowners are starting to consider taking on the project independently, without the use of a real estate agent. Although homeowners’ attempts at saving money can be supplemented with online information, a real estate agent’s professional opinion and consultation is still often required for specific legal and pricing matters. Therefore, ensuring your practice is protected against a scope of related claims by obtaining TX Real Estate Agent Liability is essential.

As agents make an average of 6 percent in commission fees, homeowners are turning to the internet for information on selling their homes. According to U.S. News, the abundance of information is providing some of the necessary tools to allow homeowners to skip the usage of agents altogether. What’s more, sites like Zillow and Trulia provide comparable rates for neighboring homes to help determine their home’s appropriate value.

As a real estate agent, it is your responsibility to restructure your practice in order to adapt to the new model of property sales. While there are websites and information that can determine the approximate price of the home, real estate agents are responsible for being experts on the current market. Websites cannot guarantee the accuracy and details of each home which can contribute added value, which obliges the need for agents. What’s more, real estate agents drive the traffic to the home. Fliers, open houses, and website listings on multiple platforms contribute to a speedy sale. As homeowners alone do not have access to these marketing tools, real estate agents are a necessity.

The legal implications of a home sale require the presence of a real estate agent. Legal expertise and guidance through the final paperwork and the sign off of ownership is crucial for the homeowner to avoid litigation for any reason.

At NewMark Insurance Services, we understand the implications of the internet as they relate to the real estate industry. Although the internet has provided ample information on home sales, modern real estate agents should consider the above mentioned facts when consulting with solo home sellers and buyers. We offer comprehensive solutions to protect you and your firm against the scope of exposures it faces in day to day operations. To learn more about our products and services, contact our specialists today at (855) 777-6549.

Posted in: blog Real Estate Liability