When selling your property, the costs of going through a real estate agent can be intimidating, and you may consider selling it on your own. Since the advent of the internet, the world of real estate has been given a makeover, making it much more accessible to the public. Property listings are available at the click of a mouse, and articles dispensing real estate advice are all over the internet. So while it is much easier these days to learn about real estate, the internet can give sellers a false idea of how much work actually goes into selling a house.
The largest motivator when people decide to sell their homes privately is the commission. When selling without an agent, you can save roughly 5 to 7% in commission fees. This can mean thousands of dollars that stay in your pocket. This money can either be used as leverage in terms of your selling price, or kept as profit. If you do not have to worry about the commission, you may have more flexibility with your asking price.
So why bother hiring a seller's agent?
The biggest mistake that sellers make is setting too high a price for their home. Going by your own feelings as to how much your home is worth can cost you a potential sale. You have emotions invested in your home, so you may not be able to price your home objectively. Also, you need to do a lot of homework to find out what comparable properties in your area are going for.
A real estate agent can save you a great deal of time and energy. He or she will be armed with knowledge about your area's real estate market. She can advise you on what properties are selling for in the area, as well as how long it takes on average to sell. She also does not have any emotions invested in the sale, so can set a fair price for both you and the buyer.
The experience of a qualified real estate agent also comes in very handy when it comes to the presentation of your home. When you have lived in a house for a long time, you can become very attached to the property, as well as to your personal decor. Unfortunately, you can easily lose perspective in terms of how potential buyers will perceive your home. For instance, you may love floral wallpaper, but buyers will cringe at the thought of having to remove it. Having children's toys strewn about may give your home a lived-in look, but the clutter may put off single single buyers.The buyer needs to imagine himself living in your house, so you need to clean and de-personalize as much as possible. An agent can help you pick and choose what changes to make, as they know what buyers want, and they also keep on top of current decorating and home staging trends.
A real estate agent can also give you some much needed motivation to do small repairs and replace outdated fixtures.
Aside from setting a reasonable price and presenting your home in the best possible light, real estate agents also have years of experience dealing with buyers that you do not have.
Marketing is one of your real estate agent's greatest weapons. They know how to get your home the right kind of exposure, and how to target the home to potential buyers. Signs, Internet ads, open houses; the real estate agent has experience with all of these things. These marketing techniques have much more impact on buyers than a simple "For Sale By Owner".
Credibility is also a big issue. Buyers who see "For Sale By Owner" signals are often leery to pursue the property. They know that with all the negotiations and legalities that are involved in these transactions, that a real estate agent is able to make these steps much easier, and faster to navigate. Many complications can arise when uneducated sellers and buyers get together and try to negotiate a deal.
Acting as a screening agent, your real estate agent can make sure that only serious buyers are taking up your time. Many people are curious to see your home, but are not planning to actually buy it. They can waste a great deal of your time and energy, so having real estate agents around to screen these people out can be a big relief for you during this stressful time.
Use your real estate agent as a resource. They have years of experience and know-how that you do not. When you find a qualified agent that suits your needs, trust in them, and listen to their advice. They know what buyers want, and will market your home accordingly, while keeping your needs their number one priority. Again, a real estate agent's objective perspective can be of great value when marketing your home. Real estate agents also have a number of negotiating techniques up their sleeves. Selling techniques, legal issues, market conditions, and neighborhood information are all part of a real estate agent's arsenal. Use their expertise to your advantage, and get top-dollar for your property.
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Source by Justin D Lee