Why Partner With A REALTOR?
Some homeowners feel they can get a higher price for their home because they know its pluses better than any outsider could, an
Posted: March 01, 2016 by Coldwell Banker Distinctive Properties Steamboat Springs
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Why You Get More When You Partner With A REALTOR®
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| Some homeowners feel they can get a higher price for their home because they know its pluses better than any outsider could, and because they would be saving the agent's commission. It does seem logical that saving a $15,000 commission on a $300,000 home (6%) would put more money in your pocket, but that's not how it usually works. Current research shows that homes selling with the help of a REALTOR® sell on average for 32% more than FSBO (for sale by owner) sales1. This article explores why partnering with a REALTOR is the best course of action. REALTORs earn their commissions. And you benefit.
PRICING STRATEGIES. The number one reason behind FSBOs that don't sell is that they aren't priced right. You may know what some houses in your immediate neighborhood have sold for, but you don't have access to the wide number of comparisons and other data that agents do - or the market knowledge to adjust pricing. Expect your REALTOR to do a CMA (Competitive Market Analysis) for you, and help you determine a price that's connected to all market factors, and your best interests. NEGOTIATING SKILLS. Reaching agreement on a final price can be a real stressor. Like most homeowners, you're probably emotionally attached to your home, and that makes it hard to be objective. Particularly when that one prospective buyer has just spent hours looking at your property, then offers you a price that you consider insulting. REALTORs know how to negotiate, and have had a lot of practice. Balancing offers and counteroffers, as well as handling all the details of the purchase contingencies can be pretty intimidating to someone who doesn't do it for a living. And mistakes can be very costly.
INVENTORY SHELF. When you're selling your own home, you have an inventory of one. REALTORs tend to have a large number of contacts, and also talk with other agents on a regular basis. The larger pool of buyers who know about your property, the better the chances are that you'll get a good price. REALTORs simply have more connections, techniques, experience and training that could result in higher offers. BUYER ASSUMPTIONS. Buyers know about real estate commissions, too. Any buyers who purchase directly from an owner will automatically assume they can discount your price by 6%. And they'll tell you so! Ask any FSBO seller one of the first things they hear from almost every prospective buyer:"Sure! By selling it yourself, you're going to save us both money!" It's a ways back to the price you hoped to get. The larger truth, of course, is that both the homeowner and the REALTOR bring valuable things to the table. As the homeowner, you know your property, inside and out and in every season. You also know about the neighbors and the schools, and, most important, the unique charm of your home and property ? the reason you bought it in the first place. Your REALTOR brings the experience of selling many types of homes to many types of people in many circumstances. He is attuned to the buyer's needs and knows how to keep your objectives top of mind. As a trained professional, she attends regular continuing education, signs a code of ethics, and has instant access to the NAR research, market studies, and tools. Most importantly, he has your key to the MLS system.
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