Despite the global crisis, many people are deciding to sell a house now. Before you do that, there are some things you need to ask your real estate agent.
Mortgage rates are hitting record lows, so many people are deciding to take this new influx of buyers and to list their house for sale. While the house selling methods vary depending on your preferences, the most popular option still is to sell a house with an agent. Still, this method isn’t for everyone. Some people might not even sell at all unless they try some alternative options. To determine should you sell in a traditional way and if the professional at stake is the right for you, there are some things you need to ask your real estate agent. Here are five most important ones.
What’s the Commission Fee?
When you work with an agent, you pay them in commissions. This commission doesn’t have a fixed percentage, but it’s usually around 6%. This commission is typically split between your agent and the buyer’s agent.
Today, however, it is possible to find an agent with lower commissions in Wisconsin – while some might even raise their prices. Still, for the lower price, you should usually expect worse service. Most agents who accept low commissions don’t have the same offer as agents with standard prices. While the cost doesn’t always mean quality, going too cheap is never a great idea. Some agents will even steer away potential buyers towards people that would provide them with bigger checks.
What’s the Marketing Tactic?
The key strategy when you want to sell your home is good advertisement. The more people see your listing, the bigger the chance of a potential buyer appearing. Ask your real estate agent how they will advertise your property. The least they should do is arrange for a high quality photos and list your property on MLS. Anything more than that usually requires additional paychecks. This includes video tours, drone footage, or marketing on social media. All of these are very useful advertising tactics that, sadly, you’ll probably have to pay for additionally.
What’s Your Experience in Selling Houses of My Type?
Another important thing you need to ask your real estate agent about is his experience in the field of work you require. There’s a huge difference between selling luxurious homes and selling a small, starter home in the suburbs. If your agent doesn’t have the necessary experience, you should consider checking elsewhere.
How Successful Are You with Sales Overall?
Also, you should always know what experience your Milwaukee agent has with sales overall. The most important aspect of this is how successful they are with sales. You want to find an agent who is capable of dealing with many transactions and making all of them succeed – but you also don’t want an agent who is so crowded that they can’t dedicate time to each individual. In fact, this is a huge issue for many sellers. Real estate agents aren’t known for being too thoughtful about dealing with sellers’ individual needs.
Try finding a good balance. For example, an agent who deals with hundreds of homes daily likely won’t be able to give you the time you need. However, an agent who only has a few sales probably isn’t very good at his job – or at least isn’t too experienced. Someone who sells a few tens of homes yearly might be a good pick.
What Can I Do if I Want to Avoid Working with an Agent?
Once you ask your real estate agent all these questions, you might determine he isn’t the right fit for you. In fact, working with any real estate agent isn’t a good option for everyone. People dealing with probate properties, foreclosures, or death of a loved one, as well as people who want to sell a house fast, might have better luck working with a direct buyer, such as Sparks Property Investors LLC.
Direct buyers in Milwaukee will usually purchase homes as-is. As a seller, this means you do not have to worry about repairs before closing or any other additional expenses you were not planning on. There are some companies that do not require inspections which makes it a truly as-is transaction. Also, they typically close faster than traditional home buyers, and usually in pay full in cash. Traditional home purchases usually require qualifications from banks, mortgage underwriting time, property inspection time and the buyer may not end up qualifying in the end. There are also normally no commissions paid to a buyer’s or seller’s agent which means thousands of dollars in savings.. They also provide mail-away closings which is a wonderful thing for out of state owners.
Direct buyers are in it for the investment. They are not expecting to move into the home on the day of closing. Most home buyers will allow a move-out timeframe after closing to allow you to relocate at your own pace. This is extremely helpful, especially with such quick closing timeframes. Also, you may not even have to clean the home when you leave. You can simply pack your personal items and furniture you want to keep and leave the rest.
Selling to a professional home buyer is extremely straight forward. They will lay out every step of the process and usually have shortened, very clear contracts that are simple as-is purchase agreements. You will also have lessened exposure to legal risks. You won’t have to worry about the buyer finding something you didn’t know you didn’t disclose or something they don’t like about the home or the neighborhood. Under most traditional real estate contracts, there is a potential for the buyer to sue you if they feel they didn’t get all of the information, or if they feel the facts were misconstrued. Direct buyers already know the state of the property, and they are willing to take on that risk.