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4 Reasons To Work With A Real Estate Broker When Selling Your House
You made the decision. You are selling your house. The next step is to decide if you will do it yourself or if you will hire a real estate professional.
Typically, the primary reason a seller considers a For-Sale-By-Owner (FSBO) is to save on the commission to be paid to the professional once the house sells.
Good news! Every year, the National Association of REALTORS® (or NAR) prepares a Profile of Home Buyers and Sellers. This interesting report contains relevant information to help you answer this important question: Why would I use a professional when I can do it myself and not pay the commission?
For-Sale-By-Owner sales represent 9% of the houses sold;
44% of the home sellers knew the buyers prior to home purchase;
50% of FSBO sellers did not do anything to market their home;
A FSBO home typically has a lower median selling price of $208,700 vs. $235,000. An agent-assisted sale has a 13% higher sale price than a FSBO.
According to this report, the argument of “saving” the commission money seems to be counter-productive: in order to save a commission payment, the house is sold for less than the median sale price. Ouch!
But beyond a potential higher sale price, what would you get if you were to use a professional?
From the same report’s data, a Real Estate Associate Broker can offer you the following benefits:
Provide you with up-to-date market data for accurate pricing information
“Recent sellers typically sold their homes for 97% of the listing price”.
If you think you are educated enough about the market to sell your home without the help of a professional, then it is fair to assume there are buyers who feel educated about the market in a similar way.
Pricing your home according to the market is key to bringing in prospective buyers; an overpriced home may make them feel that they are dealing with an unreasonable seller; an underpriced house may lead them to think the house has a problem. In both cases, the house may become stale as it sits on the market longer than similar homes in the same neighborhood.
Leverage an advertising network
Who best to sell your house than someone who is connected with buyers and buyers’ representatives? The Multiple Listing Service or MLS is a powerful advertising tool that showcases your home as soon as it hits the market. Your listing is then advertised across the internet - within minutes of being uploaded in some cases!
Why is this important? Because “92% of buyers use the internet in some way in their home search process”.
Work with an advocate
The real estate licensee will be by your side every step of the way: counseling you and explaining the different elements of an offer for example, navigating the home selling process.
“Among recent sellers who used an agent, 83% reported they would definitely (68%) or probably (15%) use that real estate agent again or recommend to others.”
My name is Marie Conser and I help people buy, sell and invest in real estate in the Denver Metro area. I specialize in the residential real estate market in South Denver, particularly:Highlands Ranch, Littleton, Centennial, Lone Tree,Greenwood Village and Cherry Hills Village. Whether buying or selling, be it your first home, your last home, or building your investment portfolio, I can’t wait to help you achieve your dreams.Call, text or email me today to start making your real estate dreams reality!
As a Full Time real estate agent for the past 23 years, Sheryll has helped hundreds of home owners in Colorado buy and sell their homes. Sheryll's easy going, no pressure style and her in depth knowl....