Pros And Cons Of Real Estate Agents
When considering selling your home, one of the biggest decisions to be made is whether to hire an agent or go it alone
.
Pros and Cons of an Agent
No agent means:
No agent commission will be due. (However, if the buyer is represented by an agent, you may still have to pay 2%-3% in commission.)
You will be responsible for ensuring the right documents and paperwork is filed. Real estate attorneys will be invaluable for this task.
Calls and showings will be completely up to you, and youll need to field offers yourself.
Negotiating on all levels is completely your job, including with the title company.
Without the exposure an agent brings, the sale might take longer.
An agent can help with:
Listing on the MLS assures more exposure and more offers. Homes often sell for more when listed on the MLS.
An agent can help you set a good price for a quick sale, since they know the market well.
Agents will market the property, show it, hold open houses, and negotiate all offers for you.
The real estate agency can help with much of the needed paperwork.
If after reviewing this list you decide that you want to try selling without an agent, here are some tips to be sure you get top dollar.
Preparation
When considering putting your home on the market, selling quickly and getting the most you can are the top things on your mind. Careful planning and prepping your house for sale are what will make those things a reality.
Staging is a word thats gotten a lot of attention lately. All it really means is showing it at its best. Clear out all the clutter, clean like your mother in law is coming to visit, and touch up or repaint anyplace that needs it. Remove all personal items, like photos or odd collections. You want people to envision living there, and this will help. Curb appeal is even more important; take a step back and look at your house objectively. What can you do to give it a homier feel? Fresh mulch and flowers help, as does a fresh coat of paint on the front door. Also, be sure any bushes are neatly trimmed.
Setting your price takes some research. Determining the market value of your home should take into consideration the square footage of your house, size of the yard, upgrades, neighborhood schools, and curb appeal. Internet sites can give you a good approximation of the homes value, but often they dont have the most accurate information. Get the most accurate market value by hiring an appraiser. This appraisal can then be used as a selling tool to back up your asking price.
Marketing and Showing
Marketing is one of the most important aspects of selling your home. Now that you have it in tip top shape and know what its worth, you need to be sure that people know its for sale. This is not a place to go cheap; use a combination of signs, the internet, classified ads, and home flyers on bulletin boards.
Every showing is a potential buyer, so make sure the house is spotlessly clean and ready for people to see it anytime. Be prepared for both positive and negative comments, and dont expect that the very first people that come through will love it and buy it.
Once you have a potential buyer, you will have to negotiate offers. You can decline an offer or counter with a different amount. You will also need to be sure that you understand the paperwork and contracts that you are signing. If the buyer has an agent, they will likely put the paperwork together. Have your real estate attorney read over the documents and point out any inconsistencies.
You attorney or title company will prepare all the documents once the home is sold and the price is agreed upon. They typically will also set up a time for the buyer and seller to come to the closing table, and complete all necessary filings that legally transfer the deed.
by: Peter Tatian
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