Selling your home is a big endeavor. Many homeowners, for a variety of reasons, decide to attempt this on their own. There are more resources available today than ever before to assist them. However, the fact remains that homes sold using a Realtor sell for more than those that are sold by owner. At Dwellings, that statement is even more true, where we routinely sell homes for more than other Realtors. There are 5 main reasons to hire a Realtor to sell your home.
1. No Headaches: Hiring a Realtor takes all the hassle of selling your home off your plate. Just imagine, on top of your busy schedule, taking on a second full-time job (which is what selling a home is). Coordinating showings with potential buyers, hosting open houses, taking photographs, listing the home on various self-serve sites (Zillow, Craigslist, etc). This all takes a ton of time, which is why Realtors exist to begin with.
2. More Money: Yes, in Michigan, Realtors are paid a 6% commission on the sale of your home. Most home sellers that attempt to go it alone are attempting to save this 6%. When you list your home with Dwellings, for example, you will most likely sell for 7% more than you would with another Realtor, and even more than that when you sell by owner. So that 6% "savings" you are expecting turns into a 1% or more loss. Doesn't sound like much? On a $200,000 home, that is $2,000. Add that to the loss of 6% and you are looking at a real loss of $14,000 on the sale of your home.
3. Pricing: How much is your home worth? If asked this question, most homeowners would pull up their home on Zillow and check out the Zestimate. However, by Zillow's own admission, this is a wildly inaccurate valuation. Your home is unique. Algorithms can't take certain factors into account. Maybe you finished the basement last year? New roof put on in the last 5 years? Zillow has no way of accounting for any of this. So they "guess" based on data that may or may not be accurately reported. Even the CEO of Zillow sold his home for 40% below market value because he used his own company's data. For more about the Zestimate:
Most people, when going to sell their home on their own, look to Zillow for information on...
4. Speed: Realtors sell homes faster. Usually about 40 days faster than those homes sold by owner. Most sellers want their homes SOLD. They do not want to let it sit on the market. Also, recent studies have shown that homes that are on the market longer receive fewer offers than those that are more recently listed. Most professional Realtors have buyers lined up for your home, ready to see it, prepared to buy.
5. Marketing: Who wants to buy your home? Do you have an idea of what types of people might be interested in your home? Do you have a professional digital marketing presence that will draw potential buyers to your home? Do you know how to best describe your home to the potential buyer? A good Realtor knows how to properly market your home to potential buyers. For example, a professional Realtor knows that words and phrases that are commonly used by home owners actually push buyers away. Phrases like "Motivated Seller" and "Vacant" might put urgency in the mind of a seller, but to a buyer, these phrases don't mean anything. The "Motivated Seller" line tells a buyer that you would be willing to accept much less for your home. The word "Vacant" makes people think of an unkempt mess. To see a list of phrases that scare buyers away, check out this article:
This might sound like common sense, but many agents still seem to forget that their words ...
So, can you afford to NOT hire a Realtor? Get in touch with us today for a FREE Maximum Home Value Assessment. This will help you learn how to sell your home for thousands more.