6% Commission Seems Like a Lot, is Hiring a Realtor Worth It?
You have made the decision to sell your home, this is a big decision for you and your family. You know you should hire a realtor but 6% of the purchase price seems like a big price to pay, how hard can it be to sell a house?
Selling a home takes time, knowledge of the local trends and market as well as negotiating skills. 90% of sellers use a listing agent which should be a good indication that realtors have the required expertise to sell your home. The first step once you’ve chosen a realtor to hire is to have them set the right price for your home. While you may feel that your home is perfect, a realtor will have a more practiced eye when it comes to condition and location, the realtor will also have access to comparable sales. The condition of the home is very important, but knowledge of the current market and its trends are crucial to pricing your home. Price your home too high and it will sit on the market, dragging the whole process out longer. Price your home too low and you could leave money on the table for no reason at all.
Another advantage of having a real estate agent is that the property is marketed to both the community and other realtors. If you do not hire a realtor and only market the property yourself you are missing out on a large portion of potential buyers. The next asset a realtor brings to the table is they will handle showings of your home with potential buyers for you AND vet potential buyers. This means that only qualified buyers will look at your home which will save you time and frustration because you won’t be dealing with looky-lous.
Now you may be thinking to yourself: “Jessica, so far you haven’t really enticed me to hire a realtor because I can get past these hurdles myself.” However, the advantages of hiring a realtor continue. Escrow has opened, you have a buyer! Hooray! It should be simple from here on out right? I’m sorry to let you down, but this is only the beginning. There are a multitude of disclosures that need to be filled out and inspections to be scheduled. A realtor will handle everything from the negotiating, the inspections and the paperwork so you can focus on your job, family and preparing for the upcoming move. Imagine having to prepare for a move, work your full time job AND handle the sale of your home all at the same time. Having a professional handle the intricacies of escrow will take stress off you and your family so you can focus on the upcoming move.
Hiring a realtor may be more expensive than selling your home yourself or using online services, but a realtor will result in a smoother, more efficient transaction. Time is money and a realtor will help you sell your home and keep the process as stress-free as possible.