In the current seller’s market, you may be thinking of listing your home and you may even be considering selling it ‘by owner’ to make the most of your profit. Today I want to share three reasons why the minimal amount you save in agent commission fees will actually cost you in the long run and why now is the time you need a Realtor the most.
1. Market Value – An agent can help you determine what the market value is for your home. Most sellers believe their sweat equity and the love they have for the unique features of their home increase the value. An agent will give it to you straight to help you avoid overpricing your home.
2. Multiple Offers – Due to limited marketing channels, many ‘For Sale by Owner’ homes are sold to a friend/neighbor. Without an agent to generate multiple offers, there is little to no chance that you will end up generating a higher sales price. In this market, many homes are selling $50,000 to $100,000 over market value and as a result, earning the seller potentially much more than the ‘commission’ they did not want to pay.
3. Negotiations – Finally, an agent can help you with your end game. Once you sell your home, you still need somewhere to go. An agent can help you negotiate the terms of your sale to give you the benefit of time to find your next home.