Defend Your Commission: Reasons Why You’re Worth It
It isn’t hard to find buyers right now, but sellers need you to fill out contracts, negotiate multiple-bid offers and screen buyers to verify that they’re qualified.
SAN FRANCISCO – Many consumers wonder if an agent is really necessary when it comes to selling their home, says Darryl Davis, CEO of Darryl Davis Seminars.
But, he says, agents must know their own value. To do that, agents should have the utmost confidence that a seller is better off hiring them than acting as a for-sale-by-owner (FSBO).
The most recent National Association of Realtors®’ Profile of Home Buyer and Sellers states, “The typical FSBO home sold for $217,900 compared to $295,000 for agent-assisted home sales.” Based on those numbers, homeowners stand to gain more money even after paying the commission.
Agents can also emphasize that they provide a high quality, trustworthy experience, along with a guarantee that the purchase will be safeguarded. Licensed and trained agents can protect homeowners from miscalculating the price and misrepresenting themselves, notably in multiple-offer situations.
Furthermore, FSBOs allow unvetted individuals into sellers’ homes, whereas licensed agents ensure that to get to a listing, buyers are screened, prequalified and recorded.
Agents can also better protect sellers from legal hassles. FSBOs typically download online contracts without fully understanding if they’re even valid. There are numerous cases of sellers who appear to sell their home to more than one buyer, and must then try to extract themselves from one or more contract, as well as become legally responsible for more than one commission.
Source: Inman (07/22/21) Davis, Darryl
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