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Real Estate Commissions - Dollars Spent, or Dollars Saved?
Yes, it's true - the commission paid to a real estate agent comes 'right off the top' of the selling price of your home. Does that mean you will end up with less than you would if you forwent the services of a real estate professional? Not likely - read on to find out why.
Setting the right price. Price your house too high, and potential purchasers won't be interested. Price it too low, and you will get less than your house is worth.
To price it right, you need these three things. First, you need to know how similar properties have sold recently. Second, You need to know what your 'competition' is. And third, you need to know, and understand, current trends in the marketplace.
An experienced real estate professional has access to the information you need, and the expertise to interpret that information for your situation.
Advertising. It's easy to spend considerable amounts of money on advertising. You may not mind the cost if the advertising is effective, but it's money wasted otherwise.
An experienced real estate professional knows the appropriate target market, and can take the calls and present your property to the marketplace in the best possible light.
Qualifying prospective purchasers. Not everyone who views your home will have the financial means to buy it!
An experienced real estate professional knows the right questions to ask, and the suggestions to make to a prospective buyer on how to finance the purchase.
Negotiating the sale. The most emotionally charged time is when offer is made on your property.
A salesperson who is experienced in negotiations can keep the situation calm, and assist to keep the terms and conditions of the contract favourable to you.
Writing enforceable contracts. A contract of purchase and sale is a complex document, with 'subject to' clauses and many other terms and conditions necessary for smooth transition of property ownership and possession.
This is not a time to experiment - the contract must be done right the first time - litigation is expensive! An experienced real estate professional will do just that - do it right the first time.
These are just some of the many factors involved in the process of bringing a property to market, and marketing it successfully. The real estate commission you pay for the services of an experienced real estate professional reflect these valuable services.