No matter how long you have lived in your home, a real estate professional in the local area will know considerably more about the sale price history and market trends than you do. Since real estate agents are paid a percentage of your selling price, it’s in their best interest to price it perfectly. They want to earn the highest commission possible, but they also want to earn a commission within a reasonable amount of selling time. Real estate agents network with various contractors and professionals. They can advise on service providers’ reputation and provide references who have previously worked with providers. Agents either possess intimate knowledge about your area or they have the contacts and resources to find the necessary information. They can identify comparable sales, in addition to pointing you in the direction where you can find more data on schools, crime, or demographics to provide potential buyers. For example, you may know that a home down the street was on the market for $350,000, but a professional real estate agent will know the home had upgrades, and sold at $285,000 after 65 days on the market. A real estate agent will also have market conditions data, which will affect your selling process. Many factors determine how you will proceed. Data such as the average per-square-foot cost of similar homes, median and average sales prices, average number of days on market, and comparisons of list-to-sold prices will have a huge bearing on what you ultimately decide to do. Attempting to sell your home without an agent requires a major effort, resources, and countless hours understanding and organizing all the work.
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