Is paying a Realtor commission a waste of money?

This is a question many people seem to ask themselves when deciding if they want to sell their home privately or with a Brokerage.  

Most people think that they will be saving money by trying to sell privately. They believe they will get top dollar for their home. I'm here to provide you with some information as to why it will benefit you to use a Realtor in todays market!

You might not have known this, but as a Buyer, you do not have to pay your Realtor a commission. In most cases, the Realtor makes commission from the Seller of the home that the Buyer decides to purchase. Buyers are lucky because they receive assistance and expertise from a Realtor without having to pay the fees associated with it. Think of it this way, if you wanted to decorate your home, and you could get the advice and assistance from a professional for free would you take it? The answer is probably yes, and the same goes for Real Estate. Realtors are educated and always up to date with following the market. Buyers are less likely to buy a private sale home without the expertise of a professional when they have the opportunity to be guided by a professional in all aspects of the transaction. A Realtor will be there to tell them if the price is too high, or if the neighbourhood is a good area for raising a family. 

Even just the fact that Buyers don't have to pay a commission will deter people from viewing a private sale home. Every Realtor is in contact with at least a few potential buyers. If your house is listed on MLS, Realtors will see it, and send it off to potential Buyers. Having your home listed on MLS will attract so many more leads. 

Pricing a home is hard. Realtors have extra tools to help them come up with a fair market evaluation. Realtors have access to programs that show them what homes in the area were listed for, sold for, how long they were on the market before they sold, and other great factors that come into play when pricing a home properly. Realtors have access to statistics to help you better understand market trends, etc. They will give you information so that you know what to expect when selling your home. For example, if you live in a desirable area, they will be able to give you an idea of how long your house will be on the market for if priced accordingly. 

Yes, you might have to pay a commission to a Realtor, but in my opinion, your home will sell in a more desirable time frame and at a price that Sellers will be happy with. The longer a house sits on the market for, whether privately or publicly, the more likely the price will have to drop, or potential Buyer's will start to wonder why its not selling (if there are problems with the house, etc). It is SO important to price your home properly and a Realtor is a very valuable asset to the process. 

If you would like more information on what a Realtor can do for you please contact me. My door is always open!

 

 

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