Assisted by Owner (FSBO) Home Sales Sales Agent vs
Some sellers choose not to work with real estate agents to avoid paid agency committees. Traditionally, these commissions are about 5% to 6% of the home’s sales price, distributed between listed agents and buyer agents, and the seller usually pays for the fee.
However, the National Association of Real Estate Brokers (NAR) changes after landmark settlements were set to lower the agency committee. The seller is no longer required to pay the buyer’s agency fee, as buyers are now encouraged to negotiate directly with the agent.
Still, many sellers choose to pay the buyer’s agency fee to attract more buyers and facilitate faster sales. Combined with the fees of listing agents, this may total about 6% of the home’s sales price. To avoid these fees, some sellers abandoned their partnership with agents, turned to the owner (FSBO) method for sale, and managed the sales themselves.
While the FSBO route seems to be more cost-effective, you may actually lose more money in the process. The truth is that with its expertise and extensive experience, top agents can help you get more home sales, negating the savings of selling yourself. The median price of FSBO homes is $380,000, which is much lower than the median selling price of agent assisted homes at $435,000, the NAR report.
What the best-selling agents offer
Whether your goal is to sell your home quickly or sell it with the most money, top agents have the resources and skills you need to help you achieve this. They know what buyers are interested in and how to find them.
The agent also handles all marketing, display and open-plan homes. Then, when the quote starts to enter, they can help you analyze everyone and determine which one is the best offer for you. In addition to the price, you must also consider unexpected situations and be prepared to negotiate with the buyer’s agent.
“Sellers need to work with people with negotiation skills to negotiate on their terms. These negotiation skills will be different from those from three to six months ago,” said Ricky O’Neal, a top real estate agent in Forsom, California, referring to the ever-changing housing market.
Cleaning, repairing and upgrading
Before listing a home, you need to make sure it is in the conditions the buyer expects, which will depend on your local market.
For example, in a seller market with lower inventory, buyers are more likely to see it in another way in terms of certain fixes. However, if the inventory is higher, buyers will have more options and may expect a house to be more snuff-friendly.
“Stage, new paint and finishing are more than just price increases,” said Stacy Stanley, top real estate agent in Grass Valley, California. “It determines how ideal a home is for the market, how much quote it gets, and how quickly it sells.”
Deep cleaning
No matter what market you are in, buyers want a clean home. Make sure your home is spotless before putting it on the market or taking any photos. If you are not confident in your cleaning ability, hire a professional cleaner to come in and do a deep cleaning.
repair
Your real estate agent can help you determine what repairs you need to do before selling. For example, in a market with healthy stocks, buyers may expect some basic necessities such as leak-free roofs and the latest and smooth-run HVAC system.
You may also consider doing a pre-list check. During the pre-listing inspection, the inspector uses your home to identify any problem points. If you don’t resolve these issues, you may risk evaluating or failing to pass the buyer’s inspection, two things that can make your sales sales.
Simple upgrade
Your agent may also recommend that you make some light upgrades around the home, such as fresh paint on the inside or outside, or tear off a tired carpet. These simple projects usually have a good return on investment in home sales. Plus, they look good when listing descriptions.
Large projects, such as remodeling bathrooms or kitchens, usually don’t bring you that much money in the final sale. If you are in a seller’s market, many buyers won’t expect every room to be perfect, just clean and usually up-to-date.