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Selling your home solo is a move you may regret.
Key Point
- Selling your home yourself means saving on real estate brokerage fees.
- But working with an agent can benefit you in multiple ways.
- Realtors can assist with pricing, staging, and negotiating with buyers.
While recent homes haven’t jumped off the market in record time like they did last summer or earlier this year, demand for homes is still pretty strong. So if you’re looking to sell your home, you may be wondering if it makes more sense to do it yourself rather than enlisting the help of a real estate agent.
Hiring a real estate agent really has one big downside. It costs. The agent typically charges her a 5% or 6% commission for services, so if she sells the house for her $500,000, he could lose $25,000 to $30,000 in commission. I have. And if you’re trying to keep as much of the sale proceeds as possible as a down payment for your next mortgage, it’s easy to see why you wouldn’t want to part with that money.
But while the idea of saving cash may be a good idea, financial expert Dave Ramsey argues that hiring a real estate agent is a good idea, especially if you want to sell your home fast. Here’s why.
1. Get help with pricing your home
You can do your own research to see what comparable homes in your area are selling for, and use that data to come up with a reasonable selling price for your property. But you can still miss the mark.
Your home may have features that allow you to set a higher selling price. Or your home may lack features found in other homes nearby, which is why it sells for a lower price.
Ramsey argues that one of the main benefits of working with real estate agents is that they can help you price your home. Your agent can help you strike that ideal balance.
2. We may be able to help you with home staging
Staging your home can be your ticket to finding a quick buyer. Also, many realtors can help clients stage their homes, so you don’t have to pay for another service.
Home staging involves moving furniture to make your home look more open and highlight its best features. It may also include putting away your personal items so that prospective buyers can more easily see them living in your home.
3. Get help choosing the right offer
You may not receive 27 different offers within hours of listing your home. But that doesn’t mean you can’t get him three or four offers. A real estate agent can help you compare their offers and choose the best one.
And if you’re thinking, “Well, I’ll only accept the best offers,” think again. It may be in your interest to accept a slightly lower offer with more certainty.
4. Get help negotiating better deals
Suppose you can only receive one offer at home. If you hire a real estate agent, you can negotiate with the buyer to get the best possible sale price. Even with multiple offers, it can require a great deal of negotiation, so it’s an advantage to ask the person who made it before you take charge of the process.
If you want to sell your home, you may not want to hire a real estate agent, but Ramsey insists it’s wise to hire one. However, don’t just sign up to work with your old agent. Instead, take your time finding the right one and ask friends and neighbors in town for recommendations. If someone you know and trust has had a good experience with a particular real estate agent, you are more likely to have a similar real estate agent.
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