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Working With A Buyers Agent
Its common knowledge that using a Real Estate Agents can drive up the costs of selling your home. And certainly, as an Owner Seller, you are doing much of the job you would normally be paying an agent to do. But don’t get too caught up on the idea of doing this all on your own.
It is a fact that more than 80% of all homes that sell in the For Sale By Owner arena sell with the help of a Buyers Agent. The fees of a Buyers Agent may vary, and they are often negotiable. Generally, the Buyers Agent will take anything from a flat fee to upwards of 3% of the home price. In either case, you should advertise that agents are welcome. Just know that you generally pay the agent fees, but you should negotiate those fees.
What is the risk of not working with a Buyers Agent? Let me count the ways:
- Home buyers are overwhelmed by all the paperwork. Even though the title company is there to protect the buyer, buyers prefer to have a professional available to them to look through the paperwork.
- Most home buyers use an agent to find homes for them. If you are not willing to work with agents, they have no incentive to bring the deal to you.
- Buyers want to trust you. If you don’t allow professionals in the deal, they may think you have something to hide.
- Buyers agents can assist you in the negotiation process. Lets face it, most of them have been involved in more home sales than you have. If you have a particular need, the Buyers Agent may be able to help you structure a win-win deal. And it may be in a way you never thought of.
Selling your home by owner has the potential to save you thousands of dollars in commissions, but don’t overlook those costs that will help you obtain your primary goal, selling your home.
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