As they say, cheap is expensive. In the real estate market the same saying applies. It's not just about a cheap commission. A good real estate agent, who may be more expensive, who does a good job can achieve a higher net profit for the owner.
Better marketing attracts more clients, more clients means more interest and more offers, and more offers in less time means more negotiating power to get a higher price for the owner and less maintenance expenses for the property.
Is it good for a property to be on the market for a long time with little activity? Not really. In the end it "burns out" and ends up being sold much later for the same market price but with many more months of maintenance costs and a decrease of opportunities. It is also important to keep in mind that, in the real estate market, time is money. If the owner is not in a hurry to sell and is not willing to go to the price level that the sale requires, it is better to take that property off the market before it "burns". A good real estate agent will advise the owner on the market price at which the property can be sold and on the marketing and pricing strategy to achieve the sale. Any property will sell if a good job is done maximizing the price and reducing the time it takes to sell.
To illustrate this I will give an example of a sale I closed last month:
Property for sale in Marbella East for 420.000 €. After being on the market for more than six months, the agent received an offer for 400,000 € which the owner rejected despite the pressure from his agent which lead to a break of trust between them. The owner came to our team to see how we could help her with the sale. Two weeks later we launched the property back on the market with professional photos and improved marketing at a price of 445,000 €. One week after launching the property, we sold it, after receiving two offers and negotiating for a few days, for the starting price of 445.000 € which is 45.000 € additional for the owner compared with the original offer she received without taking into account the savings in the costs of supplies, community, IBI, repairs, etc. of a property for six months that would have to be added to her net profit.
Is it worth hiring a good agent? I think so, in the end it pays for itself.