The Top 7 reasons why you should consider hiring a Realtor to list your home: NaborsNorris Real Estate
1. A REALTOR can sell your house for more money.
According to the 2010 National Association of REALTORS Profile of Home Buyers and Sellers, the typical FSBO home sold for $113,000, compared to $129,900 for a salesperson-assisted home. This means that had the FSBO paid a 6-percent commission, they would have realized $122,100 or an increase of 8%.
2. A REALTOR understands how to complete the many contracts, forms and disclosure statements required in a real estate transaction.
These are but a few of the required forms needed to complete a legally binding transaction—property condition disclosure statement, termite clearance letter, purchase contract, counter offer contract, earnest money, special stipulations, legal descriptions, property inspection and numerous other contingency clauses. According to the 2010 National Association of REALTORS Profile of Home Buyers and Sellers, difficulty with paperwork was the second biggest problem FSBOs had in selling their own homes.
3. A REALTOR has the market knowledge to price the home competitively.
You may know what one or two homes near you have sold for, but you don’t have the access to the wide number of comparables or the market knowledge to adjust pricing if necessary. Also, many sellers are paying closing costs for a buyer which decreases the ACTUAL sales price. According to the 2010 National Association of REALTORS Profile of Home Buyers and Sellers, setting the right price was the biggest problem FSBOs had in selling their own homes which is understandable.
4. A REALTOR can be objective, handle criticism of the house, and focus on the business at hand.
All sellers have emotional attachments to their homes and will emphasize the features they consider most desirable during a showing. However, as a trained professional, a REALTOR is more attuned to the buyers’ needs and able to highlight the home’s features that have the most appeal to each buyer.
5. A REALTOR can assess a potential buyers’ ability to afford the property.
A professional REALTOR likely won’t even entertain offers from a buyer without a prequalification letter from a bonafide lender. A REALTOR has experience in helping buyers locate a lender and select between the numerous mortgages available.
6. A REALTOR can better negotiate and overcome objections due to their training.
Balancing offers and counteroffers, as well as handling many of the contingencies that usually accompany real estate transactions, can be terribly frustrating for sellers. Having a non biased third party to guide you through this process is extremely valuable and keeps the transaction viable.
7. A REALTOR can get the transaction closed.
You may think that once the purchase agreement is signed, your work is over. Most transactions fall apart either as a result of an unsuccessful negotiation of the inspection amendment or the buyer’s not being able to obtain the financing, both of which likely wouldn’t happen with a REALTOR. Also, if the buyer has a REALTOR you, as an uninformed seller, are at an extreme disadvantage.