This BLOG On Benefits Of Hiring A Realtor By Home Buyers When Buying Home Was UPDATED On February 2nd, 2019
With today’s technology on the internet and social media presence, many homeowners feel confident they can sell their homes themselves without the services of realtors. Commissions on a real estate agent are normally 6% of the sales price. Average home sales in the U.S. are $200,000 so 6% of $200,000 comes out to $12,000 in commissions the home seller needs to pay. Realtor commissions are paid for by home sellers and not buyers. The sales commissions are split between the listing agent and the buyer’s real estate agents.
- There are many benefits of hiring a realtor
- They feel that paying a 6% commission is way too much
- Many homeowners feel that whatever a realtor can do, they feel they can do it themselves
- This can be true to some and many homeowners do a great job in marketing their own homes themselves
- Trying to sell the home yourself might be a great idea during a seller’s market, where demand exceeds supply
- However, there are many advantages and benefits in hiring a realtor to list home
In this article, we will cover and discuss the topic of the benefits of hiring a real estate agent.
Benefits Of A Realtor When Selling Home
- Hiring realtors will have the listed property on the MLS
- Realtors can advise homeowners on how to price home
- They have the tools to do a full-blown marketing campaign
- Remember that realtor does not get paid a dime until they close home
- They will do everything possible to sell a home to a qualified buyer
- The real estate agent will network with other realtors and will most likely organize and schedule open houses periodically
- They will also spend money on newspaper ads, mass mailers, and other forms of marketing
The real estate agent will only show the property to qualified buyers armed with a strong pre-approval letter from a lender.
Benefits Of Hiring A Realtor: Knowledge
One of the best benefits of hiring a realtor is that they are somewhat of busybodies.
- They snoop around and know what comes up in the hot sheet every day
They know what is on the market:
- What homes are under contract
- What homes sold
- What homes are listed off the market
For example, if a home that listed for $300,000 recently closed for $265,000 and this is a comparable home to the subject property, the realtor will find out the following:
- how long it was on the market
- what types of recent improvement the home had
- the type of marketing the listing realtor used
Pricing Home Prior To Listing On MLS
Pricing Home prior to listing on the MLS is key. Homeowners do not want to list the price of their homes too high where it can backfire on them. And homeowners do not want to list their homes too low. Pricing the home just right is an art and professional realtors can help with the right listing price.
- Real Estate Agents can use comparable sales like these to help the home seller price their home accordingly for a quick sale
- Whatever a realtor can do, the home seller can do as well but the key question is time
Does the home seller have the time to aggressively market their home as a professional realtor has?
Benefits Of Hiring A Realtor: Buying A Home
For those who are buying a home, especially first time home buyers, I strongly suggest and highly recommend to hire a realtor to represent them in their home search. Many home buyers feel that just dealing with the listing realtor will offer them favoritism by the listing realtor because they do not have to split their commission with a buyer’s realtor. Listing real estate agents have the best interests of the property home seller and not the buyer.
- The real estate agent will represent the buyers and their needs and act on the best interest
- One of the most important things home buyers need to consider is the neighborhood
- Location is key in real estate
- The real estate agent can research properties in the best school districts, close to shopping centers, close to expressways, lower property tax areas, and low crime rate areas
Home Buyers or homeowners who need to qualify for a mortgage with a national direct lender with no overlays on government and/or conventional loans can contact us at Gustan Cho Associates at 800-900-8569 or text us for faster response. Or email us at firstname.lastname@example.org. We are available 7 days a week, evenings, weekends, and holidays.
February 2, 2019 - 3 min read