Last updated on March 13th, 2019
Selling a home is often an unpleasant experience for most people. Having to look around to find a local agent can be difficult and time-consuming. While Realtors are great and can take a lot of the stress out of the process, this is only one approach you have available to you among other that may be more beneficial.
For example, if you were so inclined and experienced enough, you can easily sell your house on your own. This saves you time and money that would otherwise be spent with an Agent. In this post, we’ll be discussing the commonalities of listing with an agent so you can determine if hiring one is the right approach for you.
Before Listing Your Home
Before you begin the journey of selling your home, first take a look at other homes on the MLS.
- What are these houses going for?
- What are their asking prices?
- How do they compare to your home?
- Is your home in a condition comparable to these properties?
It’s very important that you try and view your home from the perspective of a potential buyer. If your home isn’t up to par, this may mean your home requires upgrades, repairs or some touch-ups to stay competitive with the other homes around you.
It’s important to know this because homes that don’t sell on the market (over time) lose the interest of buyers, leading them to think there may be something wrong with your home. The key is to ‘wow’ potential buyers with your listing to get them to take interest and perceive it as a good value for the money.
Costs of a Realtor
Real estate agents work hard which is why they are compensated well at the end of a successful transaction. While every agent is different, most will come with about a 6% commission fee of the final sale price.
Some agents will also charge you added fees and costs. Fees such as administrative, listing, marketing, and photography costs. For this reason it’s important that you know exactly what is involved with your agreement as all agents will be different.
On top of needing to pay your agent at the close of escrow, you’ll also need to cover the closing costs. You’re generally looking at about an average closing costs of about 2% of the final sale price.
These costs include:
- Deed recordings
- Appraisal fees
- Title search
- Credit checks and more
When Selling Fast is Crucial
While listing with an Agent is the most common way to sell a home, you aren’t guaranteed a buyer. This can be a huge problem for sellers that need to sell now, need cash fast or are facing another emergency that requires a fast, guaranteed sale. When an agent can’t meet these needs it creates a huge disconnect between what you need and what they can offer you.
What makes matters worse, is if you need to sell your home quickly, you will still need to pay home insurance costs, taxes and monthly utility bills. If your home sits for 4-6 month (on average) you may be flushing money down the toilet. While an agent can list your home for whatever price you agree on, it doesn’t mean it will sell which is just added costs and stress for you.
Selling Direct for Cash
In situation where time is of the essence, you need to relocate, need money quick or just want the house gone, selling direct for cash has become the pinnacle choice for sellers who just want to move on. Selling direct for cash allows you to bypass the hassle of hiring an agent, long waiting periods and hefty costs. Not to mention that selling direct for cash guarantees a buyer.
Our company, SoCal Home Buyers provides services such as this for home owners looking for an alternative solution to listing with a Realtor. So before you commit to signing anything with an agent, make sure they are the best choice for you. If not, a company like ours can have the entire process completed and closed in as little as 7 days.