Putting your home on the market can be a nerve-wracking process. However, in many areas with hot real estate markets, houses sell within days. While it can be tempting to sell on your own if you live in an area with high demand but low inventory, using a residential realtor to list your property is likely going to be your best bet. Residential real estate deals can be complicated, and having a professional in your corner is invaluable. Here's what to know when hiring a realtor to sell your home.
When You Want To Sell
When hiring a residential realtor, the first thing to know is when you want to sell your home. While you don't want to wait until the last minute to select a realtor, you don't want to choose one too early. If you are selling your home and plan to buy a new one, you will want to find a realtor about 12 weeks before you need to sell your home. However, if you need to sell your home quickly, there are residential realtors who can accommodate your needs.
What Commission Rates Look Like
Residential realtors are paid via commission, and it's a good idea to know what commissions typically look like in your local real estate market before you select a realtor. In most cases, a realtor's fee will be between 5 and 6 percent of the sale price of your home. The exact commission rate can vary depending on the realtor and where the home sale occurs. Commissions are also split between the buyer's agent and seller's agent.
A Good Track Record Speaks For Itself
If you're struggling to find the best residential realtor to sell your home, it's good to look at a potential realtor's track record before committing. Look at how many homes similar to yours they have successfully sold. Also, consider whether a realtor typically sells homes at or above the asking price. The more details you get on their track record, the easier it will be to determine if a realtor will be able to meet your home selling needs.
If you plan to hire a residential realtor to sell your home, there are a few things to know. First, knowing when you want to place your home on the market is crucial. Second, realtors are paid via commission, and it's a good idea to see where these commissions typically fall in your local real estate market. Finally, a good track record speaks for itself, so do your research before selecting a realtor.
For more information, contact a local residential realtor.