Can a Realtor really help you sell your house more quickly? Is it worth paying the commission to have a Realtor sell your home? If you decide to use a Realtor how do you decide on the best one for you? Find out in this special report.
Selling your home can be one of the most profitable sales you ever make in your life. But one of the most important decisions can be deciding whether to sell the house yourself or use a realtor to help market the property for you.
Let’s take a look the main benefit of selling your house yourself: you don’t have to pay a realtor’s commission, which is usually between 6-8% of the sale price. This can be a huge chunk of money. On a $200,000 sale that comes out to $12,000 in a sale with a 6% commission rate.
The commission is usually split between two realtors and their brokers. Sellers’ agents list the property and get half the commission. The buyer’s agent also gets half of the commission. The seller of the property is actually paying both of these commissions out of the proceeds of the sale.
Keep in mind that most home buyers today use a buyer’s agent, so you will end up paying 3-4% of the sale price to the buyer’s realtor, even if you sell the house yourself without an agent.
In addition to commission considerations, decide how much free time you have to show and market the property, and answer phone calls. Also, are you knowledgeable about selling houses and writing contracts and negotiating? You may enjoy the home selling process and want to take care of the sale yourself, but if you don’t have the time, energy, and expertise you should consider listing the house with a realtor.
Now, let’s discuss the main benefit from listing your house with a realtor: your property goes straight into the multiple listing service (MLS). The MLS is the resource that every Realtor in the nation uses first to find properties for sale.
Once a property is listed in the MLS, every buyer’s agent has access to the information. Most buyers agents check the MLS at least daily, to keep current on properties that may fit their client’s needs.
Other benefits of using a realtor include better negotiating skills, knowledge of the local real estate laws, and experience both in writing contracts and following an escrow through to closing. Most realtors also are marketing experts, and can make suggestions to increase the desirability of your house or some ways to increase the value.
If you decide to use a realtor, there are some important questions to ask when interviewing agents for the job. Remember that although they are the professional, you are still the one hiring them and paying their “salary.” Make sure you get all your questions answered to your satisfaction before signing the listing contract.
Ask how many houses they have sold in the past 12 months. Find out how long they have been an agent. Find out what they generally charge for commission. Ask for a copy of their marketing plan. What web sites do they have? How do they attract buyers? More than 75% of all buyers use the internet for their home search.
Weigh the pros and cons. It’s one of the most important decisions you will make in your investment portfolio during your lifetime. Be honest with yourself about how much time you can spend and the level of your expertise. If you decide to list with a realtor, find one you trust who will work hard for you, be ethical, and honest with all parties in the sale.
Give one of our Coldwell Banker agents a call today.