People frequently ask, “Do I need a realtor to sell my home?” or “What do realtors actually do besides charge too much?”.
It’s important to note that real estate agents can be a valuable resource in the home buying and selling process. Some things they assist with include:
However, with today’s technology, is that worth the typical 3% commission? Or the equivalent of $12,000 (not including Buyer’s agent commission) to sell a $400,000 house?
In the old days, selling your home largely depended on the skill, connections and marketing efforts of your agent. Today, technology has radically changed the process. Now, according to the National Association of Realtors, over 90% of home buyers are looking online, rendering old-school methods mailing postcards, printing flyers, and even hosting endless open houses largely obsolete. There are agents who still use these methods, but most of them are leveraging these practices in order to find new clients not to help you sell your home.
So are there other options? Yes.
Can I get the value of an agent without paying 3% commission? Yes.
Bottom Line: Don’t use a brokerage with a commission structure from the 1980’s. Thanks to the internet and powerful new tools, consumers have access to more data than ever before and are doing more of the work in the home buying/selling process. By embracing this shift, tech brokerages allow their agents to focus on what really matters and add the most value for each client saving you thousands in the process.
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