Learning About Realtor Services and Their Costs
Share this article
Real estate agents can be a great asset to helping homeowners sell their homes. While their services are a bit of an expense, the law has so many nuances that the untrained eye can miss. As such, it can be more preferable to let a professional handle such matter. There is nothing wrong with selling your own home yourself, but it does take a lot of specialized know-how to get the job done and done right. Before you consider doing on your own, you should take a look at the services a realtor can render, and how much you can expect those services to cost.
For starters, a good realtor knows how to show off a house. They know what items that potential home buyers are looking for, and they know how to put the spotlight on any desirable features they may see. Further, they can help polish or mitigate the potentially less desirable things about your property. Since selling homes is their job, they’re going to have time set aside specifically to show your house. This can be the most attractive part of the deal; if people can’t see your house, they’re not going to buy it.
Once they’ve got your a committed buyer lined up, there needs to be a contract agreement drawn up. A contract is a legally binding agreement between at least two people, and is the sort of legal document used to put down the terms of a transfer of property. If a contract is properly drafted under the right guidelines, it offers legal protection to both the buyer and seller to ensure no one gets jerked around or treated unfairly. The laws that govern how a contract must be drafted can differ from state to state, and even from county to county.
The contract isn’t the only legal document you’re going to need. Many states also require property disclosures, which are the forms that document what you know to be wrong about the house. They’re a good idea even in states that don’t require them, as they can save a lot of trouble later down the line. There are other forms and agreements, such as occupancy permits, that may need to be filled out depending on the area you live in, certain aspects of the home, or when you or moving out.
How Much Will a Real Estate Company Charge to Sell Your Home?
For these various services, realtors typically charge between 4% and 7% of the final closing price of the house. While this doesn’t sound like much, consider the price of a modest home. If you’re house has a fair market value of $200,000, which is a fairly modest sum, even the low end of brokerage fees is going to cost you eight thousand dollars. While a experienced and motivated realtor can be a asset to have, some people aren’t sure if the service is worth thousands of dollars or more. This is the reason that many sell their homes privately, in order to maximize their investment on their house. A realtor does do a lot, and it’s up to each prospective home seller to determine if the price is worth their service.