A homeowner trying to sell their home on their own is under the impression they will save money.
We wanted to take a moment to dive into this further and help you assess whether you should perform the selling of your home with or without a real estate professional.
The money-saving would come from the homeowner not having to pay for the listing agent’s commission. If there is a high demand for homes of your price point and there are easy ways to get the word out about your home or you have a buyer in mind, this could have cost savings as an owner if you do sell it yourself.
However, the investment in a real estate agent’s commission will typically pay for itself. A real estate agent will naturally help homeowners expedite the buyer-finding process and will typically help identify more than one offer for consideration. Making the transaction period a quick experience saves sellers and buyers time, getting money in the seller’s pocket faster. In addition, by having multiple offers for consideration, the seller can have more negotiating power. The real estate professional will then help the seller pick the best offer for them. Having multiple offers usually increases the amount of money the seller would have gotten if they had elected to sell the property without an agent. The more cash is from an increased purchasing price or cost savings from not having to pay for certain repairs and updates. There are millions of ways to approach a real estate transaction, and your agent can be a person to help steward you through those options and land on the best one.
What does this look like for you with numbers?
Average Home Price for “For Sale By Owner” 2020 is $260k and the Average Home Price for Agent Sold 2020 is $318k. This is an 18% difference. Therefore if you pay the commission you will still receive a surplus, in addition to having a professionally trained agent who knows how to navigate the complex market and who has immediate access to promotional tools to get the right buyer for your home. Listen to the video to learn more about all of the benefits.
We recommend you consider using a real estate agent in selling circumstances and pick the best choice for you. If you decide a real estate professional is part of your solution, please call us, 307-635-0303. We’d be happy to connect with you and assist you in finding the best agent for you. See a list of our RE/MAX Capitol Properties realtors HERE.