CHAPTER 20 Hire a Real Estate Agent or Not? I am sure you have wondered why people hire a real estate agent. Well, here are a few reasons. Reason #1: We can sell homes for more money. In fact, most sellers net more money in their pocket, even after they pay the agent’s commission. The average home sold by an agent sells for $230,000, while the average For-Sale-By-Owner home sells for $184,000. That doesn’t mean every agent can sell your home for more, but many sellers actually make money hiring a real estate agent to sell their home. Here are a couple of real-life examples: • Brandon had his home on the market for $220,000 and wasn’t getting much activity. The buyers who did look at it were not serious and made lowball offers. He listed his home with an agent for $240,000. Three weeks later, he received an offer from a buyer willing to pay full price. He ended up with more money in his pocket, even after paying the agent’s commission. • Jimmy and Kaye had their home on the market for $380,000. It wasn’t selling. After a few months, they hired a real estate agent and increased the price to $420,000. A few months later, the home sold for $408,000. As in the first example, they made more money, even after paying the agent’s commission.
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