Benefits of Selling with an Agent
Going through the homebuying and selling process can be tedious work. It may seem enticing to list your home for sale by owner to cut out the commission but is it truly worth it? Oftentimes, it is unrealistic to look at the estimates of what your house is worth on the name brand sites. Finding the sweet spot of what your house should be listed for needs to come from factual data of similar home sales in your area and it can’t be an emotional decision on what price you choose to list. A contract is a legally binding document that needs proper review and understanding. Between listing the home, marketing the home, and negotiating, it takes a lot of time, effort and expertise.
Did you know that according to Keeping Current Matters, the percentage of people selling their house by owner has declined from 19% to 8%? It is the lowest number recorded since 1981.
Selling your own home takes a bit more effort than what meets the eye:
Staging Your House
Like anything in the world, making a good first impression is important. Minimize any personal photos and art, have great curb appeal, and think about color trends for consumers. Hiring an agent can help stage the house, give pointers on whether paint colors need updating and what type of curb appeal is needed.
Consider Pricing
As mentioned above, pricing your unit right is a numbers game that requires research. An agent will have critical information and more approximate fees that will be due when selling the house. If you sell buy owner, it’s possible that if your house is priced too high, you could turn buyers away before they’ve even made it to the front door or have appraisal issues.
Negotiations and Legal Documentation
Negotiations and legal documentation can take a lot of your time up and time is money. When handling negotiations, the people you will be dealing with are the buyer(s), buyer’s agent, inspection company and appraiser and it can be very detailed. The legality aspect can be confusing when writing contracts, understanding the fine print, disclosures and regulations that are mandatory. Having an agent can help avoid potential missteps.
One of the most important parts of this blog: maximizing your buyer pool and profit. In today’s market, it’s not uncommon to sell your home in a day but effective exposure is important to get more bang for your buck. For example, a seller listed their home on a Thursday evening, had 36 showings by Sunday and all offers had to be in by Sunday at 6PM. Of the 36 showings, the house received 23 offers and the house was pending sale in record time. First time home buyers may actually net less profit than sellers who use an agent. According to the National Association of Realtors, the average house for sale, today, gets 5 offers.
Don’t settle! It is usually well worth the investment of hiring a real estate agent to help guide you through the process of selling your home and taking care of the fine details. I have a great network of agents that would be more than happy to help answer any questions and help you sell your property! Give the Jen Martinez Team a call today!