Selling Your Home? Find a Real Estate Agent
As a seller, your most important criterion is the list price. While you may have a good idea of what your home is worth, the marketplace ultimately determines the sale price. A real estate agent can provide an update on market conditions, an assessment of the likely selling price of the home and tips for improving the home's buyer appeal to prepare you for a successful and rewarding sale.
In general, a 6% commission is paid out by the seller, when they list their home with a real estate agent. Most buyers have a real estate agent as it costs them nothing to do so. If the buyer has an agent, 3% goes to the buyers agent, and 3% goes to the seller's agent. If the buyer does not have an agent, the seller's agent gets the entire 6%.
Many sellers often initially consider a do-it-yourself approach to selling. While you may save on the 6% commission, this approach puts you at a severe disadvantage. You cannot list your property with the multiple listing service (MLS) and many buyers agents, due to the incentive compensation structure described above, will not show your property as they are not guaranteed a commission. Your reach is therefore limited, which is why it often pays to seek out real estate agents for sellers.
Choosing the Right Real Estate Agent
Most real estate agents are already familiar with current real estate values, taxes, utility costs, municipal services and facilities, and local zoning changes that could affect how you list your house for sale. They will help you, the seller, navigate offers, objectively evaluate every buyer's proposal and negotiate on your behalf. In addition, the agent helps you monitor and navigate through legal requirements in closing a deal. Their services are well worth the commission you will pay.
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