Selling a home
We, most of us, do not have sales experience, sell a home once or twice in a lifetime and so are not really qualified to sell your home.
FSBO-Often the home is overpriced. Both the buyer and the seller thinks they will both save the brokers commission. Obviously, both cannot save the same money.
Commission. Remember you are contracting with SALESPEOPLE.
How do you choose? A typical game played I can get you xxxxx
you are thrilled with that much for your house as you paid xxxxxx
IT MEANS NOTHING. There is what it is worth. Here in the villages with so many homes basically the same it is fairly easy to get a value on your home. The game is you list with the person who claims they can get you the highest price and then when no one BUYS you are told perhaps, you should lower the price. What is the commission rate? Someone said and I've heard 7%. On a sale at 300,000 that is 21,000 dollars. You THINK hey Joe smith broker got me top dollar. ALL THAT MATTERS OR SHOULD MATTER TO YOU IS WHAT YOU NET.
300,000 -21,000=279,000. Assuming the buyer will be getting a mortgage. Will they qualify for a 300,000 mortgage? Will your home appraise for 300,000?
Can YOU put up with people? They say they will be over at 3:00. You clean up all the papers etc that you normally have on your desk and they show up at 6:00 just as you are sitting down to diner. Of course they bring their not trained grand kids, and or their dog. You think that color you spent soooo much time picking out is the cat meow and the first words out of their mouths is who the heck picked out that ugly ............
Can you deal with seller remorse? Wow I bet we should coulda mighta gotten more?
Our previous home. First of all we paid 4% to a full service experience broker. I had tracked sales prices in my neighborhood compared them to listed price and to the ZILLOW PRICE. The brokers WILL of course argue with me and discredit ZILLOW-they need to do that. My study done over a year showed that homes sell about 5% above or below the Zillow price. I took suggestions from our broker and then went with MY studies. The HIGH zillow price plus 6%. Typical as a new listing our broker did an opened house. If I recall we did two of them. Turn out was great ???? about 40 people each time.
We sold the house in TWO WEEKS and we got A CASH BUYER.
Aside-from former neighbors I know the buyer put a fortune into the home. New drive, new siding, extensive landscaping. It does look nice. I will guess they put 100,000 into our home.
Now FIVE YEARS LATER Zillow says it is worth 5% more than we got for it.
People, being amateurs do not even think about what it cost you to keep a home-each month it takes to sell it.
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