When the time comes to sell your home, for most, the bottom line is going to be your primary consideration.
How much is all of this going to cost me? Where will I be able to save on some of those costs? How much am I ultimately going to walk away with? Often times, homeowners will look to go without a realtor as a way to save on the transaction, and attempt a for-sale-by-owner (FSBO). Below we will examine some of the pros and cons of this choice and determine if it is ever a prudent decision for a seller to go-it-alone.
The first and primary benefit of enlisting the services of a quality and experienced realtor is that the individual will have a high level of real estate expertise. A realtor will have a better understanding of the local market, allowing them to adequately price your property based on a number of factors. Beyond just the individual’s expertise, you will also be able to tap into the expertise and services of the company that the realtor works for. Your realtor’s expertise will help you know whether you should be accepting an offer, or whether to sit tight because there might be something better down the road.
Your realtor will also know all of the nuances to help sell a home quickly and for the maximum price. A realtor knows what potential buyers are looking for, which will help them stage your home properly and point out things that might not have occurred to you by virtue of it being your home (it always helps to get that second pair of eyes). Inside and out, your house will be prepared for strangers to come in and determine if they’re interested.
Owners who look to sell their homes on their own often underestimate the amount of time that will be involved. Selling houses is a full time job, and rarely is it something that just happens overnight or by coincidence. Homeowners who work your standard 8-5 or jobs with long hours will have difficulty finding time to do the tasks necessary to sell their home; and when they do have the time, they likely don’t want to spend it preparing for open houses or drumming up would-be-buyers.
Scheduling walk-thrus and open houses is no easy task, nor is it brief. Your realtor will be able to accommodate potential buyers who may only be able to come see your home while you are at work. They will also be able to discuss the property objectively with the buyer to tell them all of the great things about your house, without making it seem insincere. Open-houses almost always take place on the weekend. By hiring a realtor, you are able to enjoy your Sunday (albeit, outside of your home), while your realtor works hard on the swarm of potential-buyers that come visit the property.
The primary reason that home sellers look to forego the services of a real estate agent is due to the commission check that they are required to pay. However, this thought process ignores the value added by a real estate agent. In addition to the time and expertise of a seasoned real estate agent, agents also have access to a wealth of tools and resources that the average person does not. It may cost money to list your property on your own and to take the necessary steps to get your home into a salable condition. These types of things are implicit in a real estate agent's job. That's what you've hired them to do. Not to mention, any time you have to spend trying to sell your own home could mean lost money for you in opportunity costs or otherwise.
Whether a realtor will actually be able to obtain a higher sale price for your home is a difficult question. Various studies show data in both directions. Ultimately, there are a number of factors that go into to final sale price of your home, so narrowing it down to just one factor is nearly impossible. However, what you can be sure of is that an agent will have your home listed for its correct value; and an agent will be sure that your interests come first when negotiating the final offer. Your agent may consider things that you have not; even if the sale price doesn't go up, your agent will be able to negotiate for other terms that are favorable to you. You and your agent both benefit from obtaining the highest offer possible on your home, and this will cause your agent to zealously work for a maximum offer on your home. It's important to remember that you and your agent want the same thing - to sell the property quickly and for the most money.
To learn about the variety of real estate services that Goosmann Law Firm can offer you, contact our offices in Sioux City, Omaha, and Sioux Falls.