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Would you list for 2%? It may sound to good to be true. So let me clarify it. Here is an important figure. The average home listed with a full service Realtor sells for 3% more than for sale by owner homes. How can this be? I'm glad you asked! The first thing to consider is the buyer base. There are five basic types of home buyers as follows.
1. The first time home buyer. This buyer is very unsure of the whole process and with very rare exception using an agent.
2. The move up buyer. This is normally a couple with children, both working, taking kids to functions and still trying to have a little time for recreation. Since they are moving up that means they are selling a home, so odds are they have an agent that they're working with.
3. The relocation buyer. A new job in a distant city. This buyer has very few options. They can seach on the net to see if someting looks good after which will call an agent or go through a relocation company that will refer them to an agent in that city.
4. The step down or empty nester. The kids are grown and gone so now the house is just to big for two. This group usually knows or has a family member in real estate and will use that person as an agent.
5. The investor and bargain hunters. This is a very self describing group. While they will sometimes use an agent they prefer to focus on FSBO's. The common belief is if you're not using an agent than you must be able to sell for less.
It is now quite obvious the reason why a home listed with a full service agent sells for a higher price. The vast majority of quality buyers use an agent and those that do not offer an average of 3% less, because they feel since you are not paying a commision than you should sell to them for less. No win/win for someone and it is usually the seller. Don't get trapped!
Logically why not buy through a Realtor? The buyer can take there time to drive all over town looking for a home or they can let a Realtor do all the leg work and get chauffered to tour homes in private. Once they find one they like thier agent takes care of all the paper work, negotiations, scheduling an inspection, negotiating any needed repairs, the appraisal time, setting up escrow and closing, etc.
So if you would like to sell without an agent and pocket that two percent - oops I forgot to mention out of that two percent you will have to deduct advertising, attorney fees, and misc. other costs as well as your time.
Since I only charge 5% why not call and let me absorb all the costs involved with selling your home so you can enjoy your time. Odds are you will end up with close to the same net.
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