CHAPTER 18 Hire a Real Estat eal Estate Broker or Not? er or Not? I am sure you have wondered why people hire a real estate broker. 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 broker’s commission. The average home sold by a broker sells for $230,000, while the average For-Sale-By-Owner home sells for $184,000. That doesn’t mean every broker can sell your home for more, but many sellers actually make money hiring a real estate broker to sell their home. Here are a couple of real-life examples: • Brandon had his home on the market for $420,000 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 broker for $440,000. 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 $580,000. It wasn’t selling. After a few months, they hired a real estate broker and increased the price to $620,000. A few months later, the home sold for $608,000. As in the first example, they made more money, even after paying the broker’s
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