You can sell your home with or without a realtor. There may be benefits to selling your home yourself, though the majority of sellers prefer to depend on the professional services of a realtor.
Realtors charge commissions, varying from 2% to 10% of the selling price of commercial properties and 3% to 6% of a residence. You can save a substantial amount of money by selling your home independently. Although you will have to bear advertising costs, they may cost much less than the commission you have to pay for a realtor Maple Ridge advisor.
Cost savings apart, you will need a large amount of effort and time to sell your home, plus you may not get as high a price for your home as you should. You will further have to coordinate and organize all advertising as well as showings of your home, and you will typically take longer to find a suitable buyer. On occasions, prospective buyers might feel uncomfortable viewing the home with its owner, and might not be frank enough to discuss things they do not like about your property. On occasions, buyers will want you to reduce your sale price as they know you need not pay commission to a real estate agent. Apart from this, sellers generally do not have the advantages of a trained real estate agent regarding potential liability issues.
Although more costly, there are several benefits of selling your home through a real estate agent. Find below some of the benefits.
• They possess the resources and expertise to ascertain your home’s fair market value
• They have access to a wide range of potential buyers in their personal database
• They can advise and guide you concerning real property issues that require to be addressed in your agreement.
• They can assist you in preparing your home for sale to ensure that prospective buyers are attracted to it
• They can negotiate the price of the property on behalf of you
You should consider the services of a reputable and professional realtor in case you are interested in a reasonably quick as well as hassle-free sale of your property.
Multiple listing agreement
Selling your property through a real estate agent will typically comprise signing of a listing agreement. There are two key types of agreements… Exclusive Agreements and Multiple Listing Agreements. Most individuals use multiple listings. With such an agreement, all member agents of the local real estate board will get details regarding the listing and will be eligible to share the commission in case they bring a purchaser to purchase the property. This is typically the most effective method to sell a property. However, the commission payable to the realtor in a multiple listing will be higher when compared with an exclusive listing commission.
Exclusive listing agreement
Such an agreement implies that only the company with which you list can offer your home to prospective buyers. Unless your agent agrees to cooperate, other agents, they are not automatically eligible to a commission if they bring a purchaser. The commission payable to your realtor will generally be lower than for a multiple listing, even though it may take longer to find an interested buyer.
Your choice of selling your property without or with a realtor will usually depend on how fast you need to dispose of your property, how busy you are, as well as how good your own marketing skills are. A real estate lawyer can help you to review ‘purchase offers’ and draft any counter-offers in case you do decide to sell your property sans an agent.