There are many options available today for selling your home. Technology has made it so easy for buyers to find your home on the internet. Do you really need to list with a traditional real estate agent?
Sellers should start thinking about their options to sell this Spring. For quite a while, sellers received offers in as little as 1-4 days. This spring, with the higher interest rates, the real estate housing market will be different.
Competitively priced homes are expected to be on the market between 30 – 45 days.
So how can you the seller, still save as much equity as you can? Knowing and understanding your options is the key.
Sellers used to only have one option and that was to list with a traditional real estate agent paying out 6% in commissions. ( 3% to the listing agent and 3% to the buyer’s agent.)
Real estate housing market has changed over the years making it easier to sell and buy with the advancement of the internet.
Sellers can now list traditionally, list with a discount broker, list your home with a flat fee agent or sell your home as a FSBO. There are pluses and minuses with each.
So, lets break these options down for you.
Listing with a traditional agent. Pay 6% That’s approximately $24,000 on a $400,000 home
Real estate agent comes to your view your property, run a market analysis for you, tell you want to clean and fix, fills out the MLS Listing paperwork with you and puts lockbox on your door. They will have post sign company install a post sign.
They go back to the office, key your home for sale listing in the MLS, MAYBE do an open house for you on a day that is convenient with the agent.
They will get the emailed offers, share them with you, and give their opinions with you and counter offer the buyers.
If a buyer comes to you without an agent, you still have to pay the listing agent the listing and buying commission.
They should advise you on the settlement steps and show up with you at closing and collect their check.
Discount broker. These brokers will do all the above for 4-5% minus the open house ( 3% going to the buyer’s agent). That’s $20,000 on a $400,000 home.
Flat Fee MLS Listing agent. Companies like GoToFSBO.com – Will do all the above for as little as $1299 + 3% to the buyer’s agent if you sell though the MLS.
Home Seller needs to fill out the MLS Listing paperwork and hold your own open houses.
Or you can spend even less if you don’t need all the bells and whistles. You get to decide how much you want the listing agent involved.
Your home is listed in the Realtor MLS and as a FSBO on GoToFSBO.com website. If you find the buyer on your own, you pay 0% in commissions.
FSBO. You advertise your home on popular FSBO websites and skip the MLS listings.
Agents are the only ones that can put you in the Realtor MLS. You decide the price, negotiate offers and get to closing on your own.
This option is great if you have done this before and don’t need assistance.
The MLS is the most effective way to sell your home since it exposes you to millions of websites and access to buyers working with agents.
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