It’s tempting to want to sell your home on your own without real estate agent representation, especially when you hear the terms ‘Seller’s Market’ and ‘Low Inventory’.
Of course you want to maximize your profit and perhaps you are looking to save some money by not having to pay commissions. You might even feel that you can do as good of a job as a real estate agent because you have been disappointed in the past. Weigh it all out, pros & cons and understand that managing the sale process of your home can get quite extensive. Honestly, most people don’t realize what all goes into selling a home, it is undoubtedly time consuming and may also be intimidating with regard to personal safety, procedures & liability.
Correct pricing, marketing, screening of prospective buyers to ensure they are legitimate & qualified, coordination of showing appointments, selecting the title company, etc. are all crucial factors in the beginning and once there is an offer, there will likely be contract negotiations, property inspections, the value appraisal, managing of time lines, inquiries for additional information and documentation, possible snags causing delays, re-negotiations, etc.
Most buyers will be represented by a buyer’s agent, who will work on their behalf, with their best interest at heart. The buyer’s agent will need to be compensated for handling the buy side of the transaction. Rarely ever does the buyer pay a buyer agent’s commission here in Michigan, generally commissions are paid through the sale of the property and deducted from the sellers’ proceeds at closing and are then issued to the brokerage or broker in accordance to the negotiated terms. It is very likely that a seller will pay some type of a commission in the end anyway, plus there are several more expenses associated with the sale of your home, such as transfer tax, title insurance, etc. Lots of food for thought for you to start with.
The questions to ask yourself are: How much is your time and your peace of mind worth to you?
Do you really want to handle and manage all of this yourself, or should you let qualified professionals do what they do best to help you?
On average, listing agents can achieve a higher sale price than individual sellers, offsetting the cost of commissions due to the broader range of marketing exposure, through networking with other agents & prospective buyers, therefore creating much more interest and visibility, especially when you have a team of energetic passionate, tech savvy & creative agents working for you! 😉 Real Estate is and always will be a people business, relationships matter.
Without professional guidance to help you move through all the stages of a real estate transaction you may be risking safety, time, money and aggravation.
Let’s talk Real Estate, give us a call at: 517.962.8803. Looking forward to hearing from you!
All the best,
Randy and Yvonne
Randy and Yvonne Hoyt
2300 W. Michigan Avenue
Jackson, MI 49201