During the home sale process, there are a lot of decisions to make. One of those decisions is if you want to use a realtor. What does a realtor actually do? Here area few details for you:
The Commission Fee
The commission fee is highly negotiable and varies between each local market. The commission is based on the total purchase price of the home and runs between about 5 to 7 percent. This may not sound like much, but when you are selling a house that is 200,000 dollars, then even a 5 percent commission fee means that an agent will be getting a good chunk of change.
So, what are the services for this amount of money? In general, the job of a realtor is to assist in the listing, marketing, and closing of your home by providing you with the best staging advice, a liaison between you and other buyers, as well as a network of personnel to to help you with all the steps to selling a house such as attorneys, painters, appraisers, etc.
Listing Your House
During the pre-listing phase of your home, your realtor will assist you in making your home look as fabulous as possible. They will help you decide on an asking price tor the property by evaluating your home again other compared properties within the local market and then give you a listing price that they think is appropriate. The agent will evaluate what can be improved upon in the house before the listing is made. They will suggest repairs and ways to stage your home effectively, and then help you with finding the right contractors, painters, and other repairmen if repairs are necessary. After all of this, agents will often take pictures or hire photographers to get the best quality photos of your home to post on multiple websites. Pictures are very important as people from anywhere will be able to view them and will draw them in.
Marketing Your House
Realtors will post your home on the Multiple Listing Service (MLS) website and in other media to alert potential buyers that an new listing has been made. Websites such as Trulia and Zillow which are fairly new are very affective as they are so easily accessible and easy to use. Agents will handle the process of interested buyer’s calling, scheduling, showings, and conducting open houses and personal tours.
Assistance With Closing
Closings are often the hardest part of dealing with realty and when a realtor really comes in handy. When a buyer makes an offer on a house the agent will work to bridge the gap from you and the potential buyer. In states where a real estate attorney is not legally required, realtors can advise you on whether you should accept or decline an offer, and what to make in counter offer. A good agent will help put you in touch with appraisers, inspectors, and other people that you might need for closing on a house. Agents can also help you find a title agent that can help your during the closing.
Depending on the amount of knowledge you have about the real estate process, a realtor might not be needed at all. You are not legally obligated to use a real estate agent to sell your house, but some states do require you to have a real estate attorney during the signing of the contract. You are the one that has to decide how much assistance you require in order for it to run smoothly with the least amount of stress as possible and if that is worth paying the commission for a realtor.