Looking to sell your home? If so, then hiring a real estate agent to represent you throughout the process is always in your best interests. Working with a seller's agent is a great way to relieve a lot of the stress that goes along with listing a home, negotiating with buyers, and preparing to close. Still, if you're planning on working with a seller's agent as you prepare to list your home, there are some things you really should know before you begin.
A Lot Goes on Behind the Scenes
Many sellers are shocked to learn that real estate agents collect an average of 5-7% of the total sale price of a home as commission when the deal is said and done. Understand, however, that there's a lot of work your agent does behind the scenes that makes up that commission. Not only will your agent help research your home's value, create a listing, take photos of your home, and market it, but also he or she will put in hours upon hours of work in filling out paperwork and getting the logistics squared away before you close on your home. And of course, that commission is split 50/50 with the buyer's agent, so your agent isn't pocketing all of it.
An Open House Isn't Always Best
Many sellers are eager to schedule an open house because they think it'll help sell their home quicker and potentially create a bidding war. And while it's true that open houses can be great tools for selling houses, they're not always a good idea. It really depends on the market. In fact, in a seller's market, there's a good chance your agent may recommend you avoid an open house. Just know that whatever your agent recommends will be with your best interests in mind.
Listing at a Fair Price is Key
Your agent will spend hours researching your home, the neighborhood, and area home values to determine a fair sale price for your property. Listing at or around this price will be key in selling your home quickly. And often times, an agent may even recommend listing for slightly below value in order to create interest and potentially create a bidding war among buyers. Trust your real estate agent and you may be surprised how well things can turn out for you!
Your agent is always operating with your best interests in mind. After all, they are representing you!