Should I list my home with a Realtor?
First and foremost I would like to mention that I am a Realtor in the state of New Jersey. Second, you might be surprised at what you’re about to read. Before we jump into our discussion, I’d like to address some key points that I will elaborate on further.
- All Realtors are not the same
- You do not need a Realtor to sell your house
- Listing with an agent has both benefits and drawbacks
- Listing with an agent is not the best solution for everyone
All Realtors are not the same
Sure this seems obvious but I see problems in this area almost daily. Many people have their real estate licenses. As a matter of fact I’m willing to bet you have at least one family member or friend who has a real estate license. This is great and I commend them for going through the training and testing to obtain their license. Where the problem lies is when these licensees are not active as they should be.
When I say active, I’m not referring to these agents as having an “active license” but rather having a pulse in the business. There are many times I see sellers (and even new home buyers for that matter) listing their home with uncle Bob or their best fiend Sally who has a full time job and lists one property a year.
Do you really want to list your most valuable asset with someone who doesn’t have a thorough track record or works in real estate sporadically? You wouldn’t get stitches from your Doctor’s intern would you? When deciding on who to list with (if you’re going to list that is), your best option is to use someone who has the proper experience.
You do not need a Realtor to sell your house
Some people are unaware that they can sell their home (FSBO – For Sale By Owner). This can be a good option depending on your situation. If you don’t mind hosting open houses, showing your home to buyers etc., the FSBO route might be a good option. In short, you can sell your home without a license and its 100% legal.
Listing with an agent has both benefits and drawbacks Sure just like anything there are pros and cons. Here are some of the pros:
Sell your house for top dollar
Get maximum exposure
You don’t have to deal with the stress of selling your home
Here are some of the cons:
You will have to pay a commission (typically 6%)
Your home might not sell as fast as you like
When listing your home with a Realtor, your house is put on the MLS (Multiple Listing Service) which is a huge database of properties that are on the market. This information is shared among agents and brokers (with restricted data provided to the public), and will give your property maximum exposure for a potential sale. Depending on the market your in and the experience of your agent determines how fast your home will sell.
By listing with an agent you’re free from a lot of the work that goes along with it (i.e./ holding open houses l, showing it to buyers, handling the paperwork etc). With this service, however, there comes a cost. This is typically 6% of the sales price.
Listing with an agent is not the best solution for everyone
Since every homeowners situation is unique, listing their home with an agent is not always a good fit. There are sellers who have houses which need repairs, need to sell their home in a matter of days (not months), and agents who don’t have the proper knowledge about dealing with homes in need of work.
When I obtained my license, we were only taught how to evaluate houses that are in good shape, not those in need of repairs. Even up until the time of this writing, I have yet to come across any training on this subject through the courses or educational material as an agent.
In my opinion, listing your home with an agent is best when you:
- Don’t need to sell fast
- Have a home that doesn’t need major repairs
- Have a home where you don’t mind making some repairs
- Don’t mind paying a commission
Should i sell my home to an Investor / Cash home buyer?
If you thnk that listing your home with a Realtor might not be your best choice, and you fall into one of the categories listed above, perhaps you might consider selling to a cash home buyer. cash home buyer’s buy your home (AS IS), they pay cash (no banks needed!), and can close extremely fast (in a matter of days).
This can save you the stress of trying to sell your home by yourself, waiting months for it to sell with an agent, having to make any repairs, or paying any commissions.
If you have house in New Jersey that you need to sell quick, sell to us. We are actively looking to buy more houses throughout New Jersey and would love to buy yours. Call us 24/7: 973-551-8210 or fill out our simple “sell my home without an agent” form.