lowball offers. He decided to hire an agent to help him. The agent listed the home for $240,000. Within three weeks, his house sold for asking price. And yes, he netted more than his original price, even after paying the agent’s commission. Jimmy and Kaye’s story is similar. They listed their house themselves at $380,000. It sat on the market for three months, so they gave in and hired a real estate agent. The agent raised the list price to $420,000, $40,000 higher than the original. Within a few months, they accepted an offer of $408,000. Again, even paying commission, they ended up with more money in their pocket than they would have if they’d sold their home at its original price. I want to be honest with you: this doesn’t happen for every seller who hires an agent. However, this outcome does happen more frequently than not.
REASON 2: LESS STRESS FOR THE SELLER
I know someone who deals with both FSBO (For Sale By Owner) and real estate closings. He said that, on average, it takes 30-45 days to sign the sale contract with an FSBO. With a real estate agent, it only takes about 45 hours, because they’ve got the process down to a science. That’s 1 to 1.5 months versus less than two days. That alone could be worth the agent’s commission, if only because it gives the buyer less time to get buyer’s remorse. Keep in mind that this regret can happen even when buyers are getting the world’s best deal. It’s just that their fear kicks in, they freak out, and they change their minds. The more time they have to think things over, the more likely they are to back out. Now, if they’ve signed a contract, you’re still good. If not, however, it’s back to the drawing board for everyone.
REASON 3: YOU'LL SAVE
84
Powered by FlippingBook