Sell With An Agent
Hiring a real estate agent to facilitate the selling process is the most conventional way of selling a home. An agent has a number of roles throughout the selling process. The agent you potentially choose should be educated in the local market and will be familiar with property values in the area. Their education and training will help formulate an asking price, identify key selling points, market your home, coordinate showings, negotiate with buyers, etc.
There are a number of pros and cons that come with hiring an agent to act as the middle man throughout the selling process, including the following:
PRO: Agents are motivated to sell your home. They don't get paid unless it sells.
PRO: Agents have access to the MLS (Multiple Listing Service), where your home will be listed and advertised.
PRO: You will not have to take care of any of the paperwork. Your agent will be responsible for that.
PRO: Agents know their local markets.
CON: You will pay your agent a commission -- about 6% of the selling price. That's money directly out of your profit margin!
CON: You will be competing against many other home owners looking to also sell their houses. This can cause your home to stay on the market for an extended period of time.
CON: There is a higher likelihood that a deal with a prospective buyer will fall through than by using other selling methods. This is because your buyers will more than likely be people just like you who are also trying to sell their current homes while simultaneously shopping for their next. If their current home does not sell when they expect it to, it could effect their ability to buy.
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