We’re living in a day and age where people rarely use an expensive agent or other professional services. People are looking to do the hard tasks themselves and believe that they can accomplish their goals without spending a fortune. Individuals will trade stocks without the help of stockbrokers, some create wills and trusts independent of attorneys, while others remodel their homes completely solo. Seeing as everyone is so self-sufficient, why wouldn’t you want to learn more about the advantages of selling your house on your own in Stroudsburg?
It costs money to have an agent help you with your real estate transaction—and in some cases, quite a lot of money. In fact, four percent of the total property sale cost is taken by both the buyer’s and seller’s agent as commission. So if a home sells for $500,000, that means $20,000 goes straight to the agent or agents involved.
If a seller still has high mortgage balances that need to be paid off, eliminating commission costs is a clear advantage. Just increasing net profits is attractive to sellers. Keep in mind though that even if the seller doesn’t have an agent, the buyer might still choose to use one.
If you are new to selling real estate, most sellers typically pay the buyer’s agent a commission of two percent to three percent. However, because the buyer’s agent will be doing the paperwork of two agents, he might try negotiating for a higher commission.
Although you as the seller cannot stop a buyer from using an agent, don’t fall into the trap of thinking that allows you to be more flexible with your prices. Buyers might feel they can negotiate a better price if you go without representation because they are aware of how much money it saves you in commissions.
Beyond negotiating the sale price, some sellers feel they are more knowledgeable about real estate and can handle all aspects of the transaction themselves.
Those who are confident in their abilities might be comfortable taking on different tasks throughout the escrow process, from dealing with buyers to buyer agents. When a seller is comfortable completing these duties, he can save at least three percent in commissions by forgoing representation.
If the transaction is uncomplicated, it may not be necessary to have an agent represent you. For instance, if you’re buying a newly built place or the property is being sold as-is, the seller might not care about negotiating repairs or credits. If buyers come in with their offer and are able to review all disclosures and documents properly ahead of time, then there’s no need for agent representation on either side.
Keeping Things Personal
Maintain a close circle
In some instances, the parties in a transaction know each other well. This might take place between family members, close friends, or business partners. If everyone is familiar with each other and what to anticipate from the sale, an agent may not be necessary. Talk to people in your circle, or ask them to introduce you to others that may help you with selling your home. All parties must trust each other implicitly for this type of scenario to work effectively.
Follow state protocol
Know who to trust
As a cash home buyer in Stroudsburg, we have successfully closed deals with 0% agent fees, commissions, repair fees, and other unnecessary expenses on behalf of the sellers we deal with. At Skilled Property Finders, we are committed to a fair cash offer in 72 hours or less for all our clients. Talk to us today for more info!