Too often, while driving down the street I see “For Sale by Owner”. People are afraid of paying a couple percentage points off the top because they don’t realize the value of a good broker. The right professional will want your property to sell for the highest amount possible, because they succeed by making you the most amount of money possible. They are self motivated, which leads to better results.
We live in an age where quality information is priceless, and in addition to working hard to market your property, a good broker should provide you with information, and be willing to take the time to educate you. What you end up paying a broker is small compared to the kind of money you can make with the insights that they can provide you.
A good broker should also save you time, they are your eyes and ears in the market. They are there everyday so you don’t have to be. This is time that you can be spending however elsewhere, whether it be your job, another investment, or leisure.
However, there is a difference between a broker who sells houses and a broker who sells investments. Often times, you can tell a good broker by the fact that they themselves will own and trade real estate. Not only do they have good information, but they trust it enough to risk their own money on it.
At the end of the day, you get what you pay for, and I can’t think of a situation that this is more true than in real estate.