Can a Real Estate Agent Buy and Sell Their Own Home?

A real estate agent is a person who helps you find your dream home. The job of a real estate agent is to help you sell your house or buy a new one. It may also be to help you take one on a rental basis whenever you need relocating. A real estate agent’s job is also to help in handling the transactions. In this work, a good agent helps people look for all possible options according to their needs and liking. They help you find a house that you can call your home. But what happens when a real estate agent wants to sell their own home?

Can a Person Act as Their Real Estate Agent?

Indeed. A licensed real estate agent is eligible to do so. They can represent themselves for buying or selling their property. They can get their house on the listing and work as their agents. Unlike many other professions like doctors or lawyers, a real estate agent has way fewer restrictions in comparison. Even so, they do have to disclose the owner of their property before the client as per the code and ethics of their profession. It is more of a moral duty of a real estate agent, to be honest, while closing the deal of their property. This should be so to avoid giving a wrong impression to the prospective buyers. Another extra benefit that a real estate agent who sells their house gets is the added profit to the deal. While hiring someone else as the middleman, he would need a certain fee or commission. When you are your real estate agent, you keep that one less expense to yourself as your reward.

Yet, you need not have a license or be a real estate agent to sell your home. Anyone who is the owner of the property can sell a house without involving a real estate agent as the middleman. They can hire a lawyer to do the necessary paperwork and sell their property.

But, let’s see the sale of your property as a real estate agent situation from the buyer’s perspective. Having the ownership of the house as a real estate agent can be a big red sign. It is often found that properties of the real estate agents on sale are often overpriced than other properties. The job of a real estate agent is to set a proper listing price of the house. And when it is their property and all the profit goes into their bank accounts, they put in all their knowledge to set the profitable price. Even the negotiation with a real estate agent becomes a little difficult to be on your side. This could be so because of their expertise.

Even though one doesn’t need to hire a real estate agent, it is always advisable to refer to one. The involvement of a real estate agent can make the entire transaction process a lot easier. They have experience of all the market knowledge to get you the best deals.

Selling your own house is difficult but not when you have done your research well. All the best!