When you are getting ready to move, it might be because you are bursting out of your current home, maybe you were relocated with your job, maybe you are ready for a new adventure in a new place. There are so many reasons that create the same problem; the need to sell your home. My kids are getting older and going off to college. I have been toying with the idea of relocating, or getting something smaller for myself and my dog Daisy. But, I still need to replace the countertops in my kitchen, and I still don’t know what color I should go with. Also, I should repair the screen door where the tortoise plowed through it all those years ago. And what will I do with Daisy during showings? When I had the secondary bathroom remodeled, I learned she isn’t too keen on people she doesn’t know entering her home. This also means I need to clean out the garage, and either sell the stuff I’m not using or give it away. (I’ll have to research which charities don’t pay their CEO millions!) I teach people and help people sell their homes for a living, but it is still an overwhelming experience for many, even for me.
Why not make it easier?
So, how do I and my fellow real estate agents compete with the services like Opendoorand Offerpad? Moving and selling your home is stressful and difficult. If asked to make repairs and updates to your home before putting it on the market you’re likely to just feel totally overwhelmed. Do businesses like Offerpadand Opendoor(that will simply buy your home for cash, make their own repairs, free you from having to show your home, and you pick the closing date) make sense? Sometimes. When it really is just too much, it does make sense to use a company like that.
But, it doesn’t make sense if you are buying a new home and need a down payment. Or if you plan on living for a while after you retire. Or if you aren’t independently wealthy. Why? Because those companies charge a lot for that convenience – a lot! Many agents will charge 6% of the sale price of your home to sell your home. That 6% includes both agent’s commissions. On top of that, you will have to pay title and escrow fees, plus any unpaid property tax, and maybe a home warranty for the buyer. Oftentimes buyers ask for help with their closing costs from the seller, so you may be asked to do that as well. Opendoorand Offerpadmay seem like they don’t charge much more than that, but when it comes to cash in hand, cash in your pocket, the difference is huge.
A good agent vs. convenience.
A good agent will get you top dollar for your house – top dollar for the market. A good agent will have pictures and videos made that showcase all the best features of your home, and your neighborhood. A good agent will be able to highlight the very things you loved when you bought the home, and the improvements you’ve made. Top dollar for the market and what those companies will tell you market value is, are two very different numbers, often as much as 5% different. In a $350,000 home that is a $17,500 difference.
A good agent will inform you what could make that top dollar amount go up, and help you if you decide to make the changes to push that number up. If your agent suggests putting granite or quartz in your kitchen, or painting the peach walls, they will have suggestions of fairly priced, honest and good contractors for you to hire. A good agent won’t tell you to do anything that won’t pay for itself several times over in the value of your home.
A good agent will negotiate repairs with the buyer’s agent. If the buyer asks for a million little things and some big things that are ridiculous, a good agent will help negotiate those into the realm of something reasonable. A convenience company doesn’t negotiate on repairs. You pay for them.
A good agent will also be able to sell your house quickly, without doing any improvements. You will have to price it under top dollar, but lots of buyers will want a “deal” on a house and won’t mind doing the improvements themselves. The number an agent can get for you on the open market is still far more than the convenience company. The convenience company will also discount what they are willing to pay for your house for the improvements it needs.
What if you need to pick your closing date, want a cash sale, and no hassle? A good agent will also have a list of investors who will do just that. And this list of investors will still pay more than a convenience company. Which means more money in your pocket.
A good agent will help you with all of the challenges of selling your home. They will know which charities pick up from your home. They will give you a list of utilities to turn off and on, help you find moving boxes, and movers, and contractors for your old home, or the new one you’re moving into. A good agent will understand the stress you’re under, and will do what they can to help you manage that stress.
A good real estate agent, actually any real estate agent, has a fiduciary duty to the person they represent. It isn’t ethical for a real estate agent to act in a way that isn’t in the seller’s best interest. If it is in the best interest of the seller to sell quickly, they can help that happen, but if the seller would like to net the most amount of money, they will help make that happen as well. When working with a convenience company you are working with a company that represents themselves, and no one is looking out for your interests. They are the professionals, and if you don’t work professionally in real estate, you’re at a disadvantage.
The cost might be too high.
The ease and convenience of selling your home to a company is tempting. Even though I just listed all of the reasons not to do it, I still understand the reasons some do. Many Americans today don’t have the savings and investments that our parents and grandparents had. For many of us, the bulk of our wealth is in our homes. We work hard for our money, and we should try to keep as much of it as possible as life marches forward and we have to face each hurdle in our way. Find an agent who will help you through the challenges of the sale and who cares about you and your wallet.
Aviation Relocation is your resource to find that perfect agent to help you sell your current home and/or buy a new one. Our realtors are experienced negotiators; they are experienced in knowing which improvements need to be made and they are experienced in helping you get the most for you – to get the best deal if you are buying or selling. Contact us today to see how we can help you with your next real estate transaction. https://www.aviationrelocation.com
