Many people are making the choice to sell their homes themselves. While it is said that this method of home sales can save an owner money in commission fees, it should be noted that usually the money saved in commission is spent in other areas. Typically an agent's commission for a home sale is approximately 5-7%. However what many people do not realize is that it will cost them at least that to see that their home closes properly. There are many costs that the average home owner does not know about that are covered in the sales process by a realtor.
The sale of a home is a major undertaking. It is kind of like taking on a second full time job. The marketing of a home itself can be a costly and time consuming process. A realtor has a great selection of advantages when it comes to marketing a home. Usually they will have a previously established web presence. This is vital in ensuring that your home receives proper coverage and exposure. The first time that many prospective buyers see your home will be on the internet, not only on the realtor's site but on the local MLS as well. This is one aspect that is difficult to attain when selling a home yourself. Realtors also have the advantage of being able to take out full page color ads in the local newspapers to showcase their listings.
The main area where a realtor's experience comes into play is during the contact negotiations and execution. Agent's are trained in the proper execution of contracts and all aspects of closing a home. This part of the selling procedure can be extremely confusing and expensive. There are numerous lawyer's and notary costs that can easily inflate a sellers cost beyond the small saving on commission. Also, take into account the fact that a large percentage of people who attempt to sell their homes on their own, eventually end up listing with an agent when their home does not draw the necessary attention to sell in a timely manner. Add to this the fact that homes sold with an agent typically close for over 20 thousand dollars more than homes sold by owners and suddenly an agent becomes a fairly attractive concept. Remember, it is likely that a professional agent will be able to dedicate more time to the sale of your home than you. After all, you have to work yourself, and for an agent, selling your house is the work.
For Sale By Owner Realtor
1.I do not have the time to make appointments during the day or during normal business hours.
2.How do I know if these potential buyers can qualify for my home?
3.I am not aware of the legal documentation that should accompany a contract.
4.How do you pick a Title Company, and who is suppose to pay their fees?
5.What if the Buyer backs out of the contract?
6.Can I sell my home for market price without using a REALTOR?
7.What coverage do I have if the Buyer sues me a year after closing?
8.Is it worth having a home inspection before putting the house on the market?
9.Who does the home warranty really protect?
10.Will I really be saving the real estate commission if I try to sell myself?
These are some of the many questions that homeowners have to ask themselves before embarking on this endeavor without a professional. What some homeowners don't realize is that most REALTORS do care. This is our livelihood. We want to sell your home for the highest possible price; our commission is based on sales price. So when we say the house is overpriced, it is! Our goal is to have a smooth transaction, and you be happy with the outcome so the next time to have to buy or sell, you think of us.
Still, anyone can put a sign in the yard and try to sell their home, and some may actually get it sold in a reasonable amount of time. But as with any profession, if you decide to take on the role yourself, you are opening yourself up to potential risks.
Licensed REALTORS are just as such, a licensed professional who is capable of guiding you thru the process and assessing the transaction with the least amount of risk possible. We help get your home sold in the least amount of time, for the highest possible price. We ensure that the buyers are qualified to purchase the home and walk you thru the closing process step by step.
Some FSBO's think that since they have sold houses before in other states, that it will be a walk in the park anywhere. Not so. For example, Texas is one of the most demanding states when it comes to selling real estate. We as agents are required by law to have all of our ducks in a row before even placing the house on the market. Here's a few things we're required to do:
1.Checking the mortgage balance to see if it the seller is even in a position to sell at the current market
2.Verifying ownership
3.Does the property have clear Title
4.It this a saleable property, what work needs to be completed prior to listing
5.What is the current market price to allow a quick sale
In closing, just know that there is a REALTOR out there for each situation. From leases to commercial property, we are licensed to assist with all your real estate needs.
Both Joe Pinto & Gerald Meyer are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Joe Pinto has sinced written about articles on various topics from Buying and Selling Home, Finances and Real Estate. Arow Blackdragon is a representative of , the foremost source for. Joe Pinto's top article generates over 8100 views. to your Favourites.
Gerald Meyer has sinced written about articles on various topics from Jewelry, Green Tea and Buying and Selling Home. Leanna Meyer is with Re/Max Cross Country and can help find . Find homes for sale and area information for Flower Mound, Lewisville, and. Gerald Meyer's top article generates over 18100 views. to your Favourites.
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