How a Real Estate Agent Helps Sell or Buy a House
The time has come for you to sell your home. The details are still being worked out for your next residence, but the timing favors you since this is a “seller’s market.” Rumors are that homes sell fast at a premium rate, so you are considering going to the hardware store to buy a “For Sale By Owner” sign for the front yard.
If the odds really are good for a quick sale at an above-average price, do you really need to pay the realtor commission? Before you decide to try to sell your home on your own, here are a few things to consider.
Real Estate is a full-time job. A realtor has time to make sure you are ready to sell your home, such as staging, photos, inspections, showings while you’re at work, and negotiating with the buyer’s realtor. Taking time off from work will cost you IF you have time away from work available.
A real estate agent has access to online technology, a well-developed network in the local real estate market, and interested buyers looking to purchase a home in your neighborhood.
The bottom line is homes sold by realtors garner between 16% and 30% more than homes sold by owners. This more than covers the 5 to 6% realtor’s commission and might be considered a sufficient incentive to hire a real estate agent. You are paying for time.
A real estate agent’s network is significant! The truth is you are quite biased concerning your home’s flaws. The finishes are just right. Well, except for the nicks in the wall in the hallway. The dishwasher leaks a little, but we have a pan that catches the water.
You hope they don’t stick their head into the attic to see how little insulation was installed. I was just right for you, but it might not be just right for the next owner.
You can find someone to complete an appraisal or inspection, but do you have them on your contact list? A realtor will. You will also find contacts for exterminators, roofers, plumbers, and HVAC technicians. Real estate agents focus on a local market and become experts on all things residential in a given area. You are paying for expertise.
A real estate agent represents you! In order for you to sell your home, someone will need to buy your home. Your Realtor represents you to help you to get the best price as quickly as possible. The buyer will also be represented by a realtor who is dedicated to getting the lowest price possible at a schedule that suits the buyer. If you do not have a real estate agent, you will be underrepresented.
Your real estate agent gathers financial information about you, your income, and loan information. Your realtor must protect this information and cannot disclose it to the buyer’s representative. They become skilled negotiators by experience. They usually have tried-and-try methods of negotiations, but without a doubt understand, that they are negotiating on your behalf. You are paying for representation.
A realtor makes the process easier. Selling your home is a big deal; a lot of money will change hands between a couple of lenders. The ideal is for a portion of that money to come to your account as well. A buyer may ask for contingencies, credits for repairs, and closing fees to be paid by you, the seller. If you are not well prepared, the buyer may ask for too much and reduce the amount you realize for the sale of your home. A realtor is well aware of the difference between a reasonable request and a money grab.
Have questions about which mortgage is best for you?
With over 5 decades of experience in the Houston Housing Market, The Matthews Team can help you choose the right mortgage for your next home or property purchase. If you have any questions, give us a call at 281-440-7900 or send us an email. We’re happy to help!
