A considerable amount of people turn to online assistance to try and sell their home on their own. Many of them inevitably end up turning to a Realtor to assist in these processes. If it’s so much easier to have a seasoned professional deal with your home needs, then why don’t people turn to them right off the bat? The short answer: the listing fee.
Those who are selling their home want to do so on their own in order to save the ~6% listing fee that goes to the realtor should your house sell. The truth it that by not hiring a professional, you are not saving any money. Yes you avoid the listing fee, but those who try to sell on their own end up running into obstacles that end up costing them more overall. They also end up selling their house for significantly less than if they were to hire an agent, who is expert at driving the price of a home up and selling it for as much as possible. The best deal for selling your home is going to come through an agent because they know the ins and outs of the system better than anyone with access to Google could learn on their own. The complexities and intricacies of the current real estate environmental is mind boggling and certainly something you want hands-on assistance with.
So what do the fees pay for? At 5%, real estate agents would take home about $15,000 on the sale of a $300,000 home. The total commission is split between both the listing and the buying agents, minus any fees the agents must pay to their brokerage. So let’s break down what you, the seller, get for that $15,000:
Expertise is at the top of the list of what a real estate agent brings to that fee. This means they are able to help price your home competitively and in a manner that helps you reach your goals, whether that means you’re trying to sell your home as quickly as possible of if you’re looking for a big sale price.
An agent’s marketing skills are a huge asset when trying to sell a home. They have to make your home look great and to stir up interest in the property in order to get the price tag up. This involves taking and staging professional photos, posting online ads, using social media, hosting open houses, and anything else that peaks buyers interests.
Agent’s are also in charge of screening buyers. If the people looking at your home are not qualified to purchase it for any reason, it just becomes a headache for all involved. A real estate agent should do all the footwork required to make sure anyone who’s interested in your house is preapproved for a home loan and has the credentials to back it up.
Finally, a real estate agent is well-versed in the complicated art of closing a home sale. Their job is to get you the best price with the least hassle and walk you through all the steps you need to take to make sure your sale goes smoothly. This applies to showings, appraisals, inspections, and the final paperwork.