How To Save 1 And Lose 3 When Selling Your Home

Dated: 05/22/2018

Views: 51

Darryl talks about why it's important to have a Realtor® at your side as well as the importance of interviewing.

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When hiring a real estate agent, many people only consider what their commission rate is. However, when interviewing agents, there's more you need to consider. You should be sure to choose a Realtor® that has the right fit of expertise, works in the right neighborhood, understands how to interpret the market, is available to help you, and has a system in the background that takes the chaos out of home sales. While paying a higher commission doesn't always make a difference, paying less can often hurt your situation.

Let’s compare a real estate agents commission to something else. I have a personal experience when I hired an accountant that charged less than others. I thought I was saving money by doing so, but for 3 years, I was paying a large part of my profit back in taxes. Finally, I listened to my friend, and spoke with their accountant. He charged 3x as much as mine. I wasn't sure I'd be able to afford him and the enormous amount of taxes I was paying at the end of the year. But, this gentleman knew how to do taxes, properly allocate funds, and he was a financial planner. I ended up hiring him, and I received 6x what I’d been paying in. This is why it's important to analyze the level of skill a professional has when looking at their fees.

Why is it important to have a Realtor® by your side? They serve as a communicator between the home buyer and seller. This is good to have due to the emotional ties we have toward our homes. They help with issues that occur, such as the appraisal comes in lower or a maintenance issue. They can tell you out of X amount of sales, X% accepted an issue that came up during the home inspection. Of course, they get you to the ultimate goal - the closing table. As well as getting everyone to agree to the terms and have the terms be adequate to seal the deal. When hiring be sure to hire someone with the right experience and knowledge as well as someone you trust.

How is your listing price determined? This price is determined by more than looking at what your neighbors home sold for, or what someone said your home is worth. It’s determined by what the buyer thinks, which is more than a standard Comparative Market Analysis (CMA) does. It’s also the job of the Realtor® to educate both the buyer and the seller of the facts and data that determine this amount. This takes the emotional aspect out of the equation to allow each party to make a better decision.

What is the difference between making your house perfect vs. cutting corners? When preparing your home for the market, you may be unsure of how much money you should spend when making repairs. Covering things up instead of fixing, is cutting corners, which I’m not an advocate of. However, there are some individuals that feel if they don’t fix an issue perfectly, they aren’t being fair or honest with the home buyer. But, today's buyers are looking for homes that are a deal, one with no structural damage. They would prefer an issue being fixed enough for them to be worry free for the next 5-10 years. Otherwise, if you spend an enormous amount of money, the home would be priced out of their market, and not affordable for most. An agent will help you understand the best option for any home maintenance issues that need to be fixed.

Go to 20questionsforhomesellers.com to download a free home seller report with no obligation. You can also schedule a call with me at askinforbaskin.com.

Featured Properties:

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752 Knobb Hill Dr, Cleveland, OK - Sand Springs - $170,000, Split-level, 4 bedrooms, 3 full baths, 3 acres with a lakeside view, easy access to 412, flexible floorplan, grand entry suite.

4706 S. 178th E. Ave, Broken Arrow, OK- $259,000, 3,000 Sq. Ft. 2-story home with 4 bedrooms, and optional 5th bedroom or game room upstairs. Has 2 dining rooms, breakfast bar, 3 living areas and a 3-car garage. Located in Stonegate neighborhood. You won’t find many homes with these features for this price.

940 E. College St, Broken Arrow, OK - Very affordable condo ideal for convenient living. $68,000. 2-bedroom, 1.5-baths, 2-level unit in Broken Arrow. Live a more care-free lifestyle close to downtown. The best of urban village living within a home-town atmosphere.

For a complete list of active listings, visit homeguidetulsa.com.

For real estate questions, contact The Baskin Real Estate Specialists of eXp Realty at 918-732-9732 or darrylbaskin.com.

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