Thursday, January 20, 2022 / by Andrew Shinbane
When it comes to selling your home, hiring the right real estate agent from the very beginning can save you a lot of hassle and help you get the best price for your home. Below are three common mistakes homeowners make when choosing a realtor and how to avoid them.
I WILL HIRE THE CHEAPEST ONE
Agents and real estate companies put up their own funds to market and advertise your home. Marketing and advertising can be expensive – the lower the commission, the less money will be available for marketing. Remember that most homes are sold by buyer agents with qualified clients.
If your listing agent is working for a low commission, the split to the cooperating agent will also be reduced. Don't go with the cheapest; go with the best.
I WILL HIRE MY FRIEND/FAMILY MEMBER WHO SELLS REAL ESTATE
Real estate transactions can be quite complicated, and there are often problems. Do you want to put your relationships in jeopardy for the house sale?
A good friend will appreciate that this is a business decision and will offer their credentials and expect to compete for the listing along with other possible agents.
I WILL ONLY USE THE REALTOR WHO AGREES TO MY SELLING PRICE
Your house will get the most attention in the first few weeks of being listed when it is priced right of the current market. If it is priced too high, it will not be shown and may sit on the market for a considerable time. It's challenging to correct this problem once it is established. You could find yourself "chasing the market" by continually lowering your price to no avail. Take your realtor's advice, as they have statistics and experience on their side.
Your home is one of the biggest assets you own and when it comes to finding the right agent to sell your home, look for a professional that works for a fair fee, has the experience and honesty to tell you the truth. Following this advice could net you thousands more when you sell your home.