Real estate commissions are definitely an “elephant in the room” whenever someone is considering selling their home. Though an agent can provide up-to-the-minute guidance and allow you to earn more with less stress, it can still be difficult to justify paying out a percentage of the sale.
However, keep in mind that there can often be a massive discrepancy in what two very similar houses sell for. When one listing earns substantially more, it’s usually thanks to the knowledge and expertise of an experienced Realtor®. In this post, we’ll explore some of the reasons it makes sense to partner with a professional when the time comes to sell your home.
If you’re planning on listing your home, an accurate price is critical. Find out how much your property is worth by booking a free evaluation right here.
What Are Your Options
When selling your home, you have three options in terms of hiring an agent.
- You can choose not to work with an agent at all and sell your house FSBO (For Sale By Owner.) You’ll have to figure out everything by yourself, including performing market research without access to Realtor-only resources and deciphering all of the contracts and paperwork involved in the sale. Handling showings can amount to a full-time job, and more often than not, all this work usually results in a less profitable sale.
- You can work with a discount real estate agent. A discount agent provides minimal support. You’ll have some guidance in terms of getting your home ready for the market. Still, most of the onus is on you.
- Hire a full-service real estate team. A full-service agent knows and understands all the nuances of the current market, and is determined to earn the highest possible price on your home with the least amount of stress for you. Your transition is typically easier, faster, and usually more profitable.
Expert guidance and a well-thought-out strategy can help you sell faster while earning more. The posts below can help you plan:
- Best Practices for Selling a Home in Today’s Market
- 5 Quick Updates That Add Resale Value
- Tough Questions to Ask Your Realtor® When Selling Your House
A Consistent Track Record is Critical
The amount of experience a real estate agent has matters, but you also want to know if they are up-to-date and current. Even then, the number of years in the industry does not indicate what kind of track record they have. Fortunately, the answers to a few well-thought-out questions can give you an idea of what to expect when selling your home.
- How many listings did you sell last year?
- What was your average days on market?
- Do you have a reference with whom I may call?
- What systems do you use to manage the sales process?
- Can you describe the steps you go through to sell my house?
- What kind of marketing exposure can I expect from your team?
- Who handles your staging?
- What is your average sales to list ratio?
- Do you supply furniture and at what cost?
How the Current Market Impacts Your Decision
In a busy seller’s market, you probably could stick a “For Sale” sign in your yard and expect to find a buyer. However, if your goal is to earn the highest amount possible, you want to work with a Realtor® with a reputation for results. This goes double if you want to alleviate most of the stress normally associated with selling a house.
In a balanced or buyer’s market, the advice and guidance of a professional becomes even more important. Under these conditions, it’s harder to sell a home at all, never mind for the maximum dollar amount. A skilled and well-connected real estate team will do a deep dive into local statistics before putting together a plan for pricing, preparing, and marketing your listing.
Some listings are harder to sell than others. The posts below can help you overcome any challenges you may be facing:
- Why Isn’t My House Selling?
- What Are the Worst Mistakes When Selling Your House?
- Home Inspections: Friend or Foe When Selling Your Home?
How Much Value Will You Receive?
At the end of day, what matters to the majority of sellers is how much money goes into their bank upon closing day. With a skilled real estate agent overseeing the entire process, that amount is almost always going to be higher.
For example, imagine you could have sold a house for $1 million on your own. But if you splurge on a full-service real estate team, it’s not unrealistic to add 10% or more to the final price. You come out ahead with an extra $45,000 when all is said and done. ($1,100,000 minus 5% ($55,000) = $1,045,000.)
With this in mind, the real question to ask a Realtor® is, “How do you plan to maximize the value of my house?”
Lastly, you cannot put a price on your peace of mind. Selling your home on your own or with a discount agent means a lot of the stress and work will be on your shoulders.
Contrast that with working with a full-service team, where a reputable and knowledgeable expert is there to guide and support you every step of the way. Before signing a listing agreement, be sure to also ask your agent how they will help to make your move as easy and stress-free as possible.
Are you counting on getting the best results when selling your home in today’s market? Our Guelph real estate agents can help you fully maximize the value of your sale. Connect with us at 519-826-7109 or email info@gowylde.ca to learn how.
