Using real estate agents in selling your home versus selling by the owner is highly recommended. People are always looking for ways of saving money.
Home sellers need to pay realtors a commission of 6% once the real estate agent sells their home. 6% of a $200,000 home is $12,000, which is no chump change.
Homebuyers feel that buying a home without realtors will get them a better deal on their home purchase. The key question will be trying to market the home to save money trying to sell the home to the owner. Will this be a benefit for home sellers? The answer is it depends. This article will cover the benefits of using realtors in real estate transactions.
Real Estate Market and Using Real Estate Agents
When the real estate market is hot, homes are selling the minute home hits the marketplace.
Many sellers who list their homes in a seller’s market often see multiple offers. They eventually get a purchase contract over their list price. However, in a buyer’s market, inventory exceeds demand.
Homes can sit in the marketplace for months, sometimes over a year, in a sluggish housing market with a surplus inventory. Realtors will be the savior in selling the home for the right price and in the quickest amount of time.
Marketing Home Using Real Estate Agents Versus Yourself
Homeowners intending to market homes themselves need to be marketing savvy. Photos and videos are key.
Many home buyers will pass over listings without photos or photos that are not clear. Realtors can help with marketing. Real Estate Agents hire professional photographers to take photos of the home.
Signage should be posted in front of the house where the phone number is large enough and visible.
Marketing Using Real Estate Agents
Professional real estate agents will also post their website and links to a virtual tour of the subject property on the signage.
Expert real estate agents will also have a box on the signage with marketing materials. It consists of color photos and selling points of the home. Real estate agents will most likely offer open houses for the property.
Invitations to open houses are normally advertised beforehand via newspaper ads, mass emails, and other marketing techniques.
Using Real Estate Agents To List Home
Granted, paying 6% of the sales price for real estate agents is a lot of money. Home Sellers need to realize the benefits of real estate agents.
Realtors will advise sellers on comparable sales that recently sold in the area. Real estate agents do not get paid unless the home is sold. They do not want to waste time showing the property to unqualified home buyers.
Real estate agents normally do not show the property to home buyers that do not have a solid pre-approval letter. Some real estate agents will contact the buyer’s lender and question them on how solid the potential home buyer is.
Pricing The Home Is One Of The Most Important Steps In Using Real Estate Agents
Real estate agents will help price homes where the deal will go through. Pricing homes too high might backfire. For example, if the home is only worth $200,000, sellers price it at $250,000. Sellers may get lucky and get a home buyer willing to pay $250,000, the chances of the deal going through is not good because the appraised value will only be $200,000. It is possible only when sellers have a cash buyer without a mortgage. This does not happen often.
Pros And Cons Of Hiring The Services Of Realtors
There are pros and cons to selling the home by owner. Realtors use Multiple Listing Services (MLS). Sellers who are marketing gurus familiar with real estate can try marketing homes themselves.
Real estate agents are professionals who will go above and beyond for their clients to get them top dollar for their homes. Pricing the home right is an art.
For home sellers in need of selling homes as quickly and cannot devote time to marketing, hiring an experienced, aggressive, knowledgeable real estate agent is strongly recommended. Listing agents do not get paid unless the home sells. The listing agent will bear the marketing cost, such as open houses and home staging, to sell the home sooner.
The Role Of The Seller’s Real Estate Agents
Realtors will take charge and vet out potential buyers. They will make sure they are fully qualified with a solid pre-approval letter. Real estate agents are the quarterback during the home sales process.
The listing agent ensures the buyer’s lender is on top of the buyer’s mortgage process and will coordinate the home inspection and appraisal process. The listing agent coordinates anything the borrower’s side needs. The listing agent’s commission is worth its weight in gold.
The seller’s agent deserves every penny of the sales commission. The Gustan Cho Associates team has the utmost respect for both the buyer’s and seller’s real estate agents.
