Ultimately, refusing to pay any commission at all will drastically limit your pool of buyers. So don’t cheap out. Even if you avoid a listing agent’s commission, you’ll most likely have to offer a buyer’s agent commission, typically 2.5% to 3%* of the sales price. Make sure you put that in your listing, so agents know it’s worth their time to bring you a buyer. But some may hesitate because of the risks involved dealing with someone who has no real estate knowledge. Thay also can't represent the buyer and spoon feed you too. That would be a legal conflict. But put out a commission offer, and many ethical agents will be glad to show your house.
9. AVOIDING LAWYERS
Sure, you may not like lawyers. You should hire a lawyer anyway to avoid legal hassles down the road. Lawyers can: • Review brokerage agreements. • Discuss tax consequences of a sale. • Explore and explain issues not contained in a standard contract, such as what happens if a property contains hazardous waste. • Review title searches. • Explain closing costs and help determine if all are fair. • And a whole lot more.
10. TAKING ADVICE FROM FAMILY AND FRIENDS Y AND FRIENDS
Everyone who’s ever sold a house has stories to tell and advice to give. But not all markets are the same. And if your cousin sold his house years ago, in the middle of the housing bubble, and your uncle sold his condo years ago at the beginning of the housing bust, their experiences will be different from yours today. The best advice your family and friends can give you is the name of a real estate agent they liked and trusted. Or just call me. 10
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