Have you heard the housing market is on fire right now? We are in an extreme Seller’s market. It is not unusual for a newly listed home to receive 5, 7, 11...even 23 offers! This sounds awesome….right? It can be. If you have the right Realtor guiding you through the process.
Selling a house is more than a sign in the yard and a pretty photograph on the internet. Realtors with an agency agreement owe their clients the duties of a fiduciary. From marketing the property, to presenting offers, inspection negotiations and monitoring the Buyer’s financing process, a professional Realtor working for the Seller in an Agency engagement is trained and obligated to keep a client informed and educated on each step of the process from contract to closing.
Benefits of Hiring a Professional Realtor
Your property will be marketed to the most Buyer’s by showcasing the property to other Realtors and Internet shoppers
All Offers presented and the pros and cons contained within deciphered for you
Realtors educate Sellers on the options available so the Seller can make informed decisions when negotiating with Buyers
Realtors assist Sellers with the receipt of inspection concerns of a buyer and help avoid Sellers ending obligated to disclose items to future buyers when a contract terminates without a successful closing
Realtors monitor the Buyers loan process
Assistance with the Appraisal process by compiling data of valid comparative properties for the pricing process
Coordinating the entire process with Closing attorney to ensure a clear title can be granted and a smooth closing can take place
Many home Sellers only consider the cost of hiring a Realtor. Why pay a fee of 6%? Did you know that according to the latest report by the National Association of Realtors, 15% of the homes sold in the U.S. were sold without being listed by a Realtor. In the latest reporting by the NAR, the Median home price was $275,000. When a FSBO Seller knew the Buyer, the median sales price was $180,000. This is probably representative of family member transactions. When the FSBO did not know the Buyer, the median sales price was $251,000. Compare that to the median sales price in an all agent-assisted transaction where the median sales price was $280,000. In a nutshell, the Sellers who used Realtors to sell their homes banked $12,200 more even after the Realtors were compensated at the closing table.