You may know how to buy a home with a realtor, but what about selling with one? Selling your home with a realtor may seem like a bit of work. Especially if you don't know one off the top of your head. You want to make the most money off of the sale and want to choose a realtor that will help you achieve that goal. So, where do you begin?
Realtor vs. FSBO
Are you struggling with using an agent or selling the home yourself? You may want to take a step back from that ledge.
Many advertise selling your home yourself as a great way to save some money from the sale of your house. What those people fail to recognize, however, is the vibe selling FSBO puts out to buyers in the area.
Have you ever been to a yard sale? At yard sales, there are sometimes items that are still brand new. Often, the thing is even in its original wrapping. You feel excited-- today's your lucky day! But it's not your lucky day because you no longer have to run to the store and buy this item. No, it is your lucky day because the person selling the item is not the store, which means you can expect some fancy negotiation and a price drop from the pricy store tag still attached.
When listing your home FSBO, people try to treat it like a yard sale.
Potential buyers of properties of FSBO properties usually start off with lowball offers and negotiate until they are blue in the face. For some reason, they view your home as secondhand goods instead of being worth the price you set it at. Most of the time, you will end up with less than the asking price anyway, saving you a total of zero dollars for your efforts and hard work. It could even end up costing you money.
How To Sell Your House With A Realtor
It's important to work with your realtor as much as possible when selling your home if you want to net more. Your realtor may have some suggestions for things that need a little work to increase the value of the home. Some of these improvements might seem costly up front, but doing them will pay off at closing time. Some of these improvements might be painting the house, updating the kitchen and bathrooms, tidying up the yard, or even repairing the roof. Part of the reason you hire a realtor is for their expertise in the market. If you have chosen your realtor well and they are giving you advice on how to increase the value of your home, it's not a good idea to question them.
While selling your home, the realtor might ask you to leave while potential buyers look at the house. Although it may be tempting for you to stay and list features of the property to show the value, it's a better idea to let them have their space. Buyers that feel pressured into the sale aren't going to want to come back and negotiate the price with you.
Choosing A Realtor
Make sure you find a realtor who is right for the job. You don't want just any realtor trying to sell your house if you are trying to make a profit. It's a good idea to identify a top agent who knows the area and is an experienced negotiator.
Local Real Estate Agent
Choosing a real estate agent that knows the area serves multiple purposes. The first is using a local agent increases your chances of selling your home for the best possible price. A local agent knows that sweet spot to list your home to get the maximum value for the least amount of time on the market. Having this advantage is huge when you want to make money on the property. Sure, you could price your house high with someone who doesn't really know the area, but you may be waiting a long time before you see any return on it.
Another purpose of using a local real estate agent is that they often know someone who is looking for homes such as yours in the area. Top real estate agents work with a lot of people in the area, and chances are they know someone who may be interested. If they don't know someone in the area looking to buy a home, they are able to show it to other agents in the area who might be able to connect you to a buyer.
Experienced In Negotiation
If you're looking for a way to get the most out of your property, you are going to need an exceptional negotiator. There's a trick to real estate negotiation that is different from any other types of haggling scenarios.
Experienced negotiators know when to push and how far to push it. They can quickly weed out the serious buyers from the ones who are “just looking” and get them out of the game fast. Having a realtor who is an experienced negotiator means they know how to get the best possible price for your house.
Finding a realtor who is experienced in the art of negotiation takes a bit of work, but it pays off. Ask around your family and friends and listen for stories about realtors who really went to bat for their clients. If you know someone in your area who recently bought or sold their house, ask them about their agent. Interviewing a few different realtors is worth it when you find the right one for the job.
Save on Realtor Fees
A great way to make more from the sale is to pay less to your realtor. You may think this sounds contradictory to finding a great realtor, but hear us out.
It's true that many agents looking to negotiate their commission rate are just desperate for a sale. Some may not even complete all the services you are hoping for when selling your house. But there are discount agents that apply the same amount of service as any other top-rated agent, but for a flat fee.
Using only the best full-service agents, some discount real estate services are out to save you money without cutting quality. You shouldn't have to choose between using a quality agent and saving money. Using a quality discount realtor helps you make more money from the sale of your home while saving on commission fees. Don't be afraid to explore your options when it comes to selling your home with a realtor. Spending a few extra hours upfront to find the right agents could save you thousands at the close of your house.