You should NOT allow your agent to handle everything for you for the following reasons:
(1) The CEA Code of Ethics that apply to licensed agent prohibit agents from discussing issues like “fair value”, valuation issues and methodologies, indicative value vs market value vs fair value unless the licensed agent is also a licensed valuer.
(2) Agents are “transaction-driven” i.e., no sale no income. For private property transactions agents act for the seller. The seller is often selling for a profit. It is easier for the agent to convince the seller to lower his asking price that to convince the buyer to pay a higher price because of limited funds and/or mortgage value. There is an inherent conflict for agents acting for the seller.
Bottom line: Do your homework as the seller. Your agent should look for buyers but you as seller negotiate directly with the buyer on price. The agent can follow up after the price is directly agreed between seller and buyer.
