Using a real estate agent can be expensive, and many sellers think selling a house themselves is a great way to save money. A seller may save a commission by selling a house themselves, but trying to sell a house without an agent may actually cost them more money than the commission they saved. Let’s find out why!
People will claim they saved thousands by selling their home without an agent and they even sold it in one day! There is a reason they sold it in one day, they left a lot of money on the table! A great real estate agent could have more than made up for the commission they charged by pricing a house right and working for the seller’s best interest.
While real estate agent’s commissions may seem high to some, it is important to know they are negotiable. Real estate agent’s are able to charge so much because they provide a great value to homeowners, and usually get them much more money than they could on their own.
If you price a home too low or overprice a home, it can cost you thousands of dollars. When a home first comes on the market that is the best opportunity to sell a house, especially in a seller’s market like we have now. There are buyers waiting for the perfect home to come up for sale, and it is vital that a home is priced right from the beginning. Here is a great statistic for people who try to sell a home themselves versus use a real estate agent;
- FSBOs accounted for 8% of home sales in 2015. The typical FSBO home sold for $185,000 compared to $240,000 for agent-assisted home sales.
- A real estate agent knows how to deal with a low appraisal.
- A real estate agent knows how to market a home.
- A real estate agent knows title companies, lenders and other agents.
Here are a few more things an agent will help a seller with.
- Negotiating price
- Negotiating inspections
- Negotiating appraisals
- Negotiate title resolutions
- Negotiate multiple offers
- Negotiate seller concessions
- Negotiate earnest money
- Negotiate inclusions and exclusions
- Negotiate conditional sale contingencies
- Negotiate survey resolutions
- Negotiate due diligence resolutions
- Obtain and review buyer’s qualification letter
- Negotiate closing and possession date
Wanna list it with Destino Vacation Rentals? Go to our listing form and we’ll get back to you as soon as possible!