Selling A Home in Kew Gardens: Hire A Broker Or Sell Myself?

selling a home in kew gardensWhen selling your home you have the option of selling it yourself, or seeking the help of a professional real estate agent. A real estate agent has experience and resources for attracting buyers, negotiating prices, and marketing your property. The downside to seeking an agent is that their commissions of 5-8% of your home’s selling price may seem a bit too steep for some people.

By utilizing the services of a real estate agent you are also giving them control over the selling process of your home. If you’re trying to decide whether to sell your home on your own or through an agent, consider the following questions:

How much time do you have?

If you have many obligations such as work, chores, children, and generally keep busy, you may not have the time to handle the work that comes with selling a home. A real estate agent knows how to screen buyers, prepare paperwork, market the property, entertain prospective buyers, and negotiate prices. Factor in the time it takes to learn these things and it may be a disadvantage to you if you want to sell your home quickly.

What do you know about real estate?

Are you aware of the property prices of your area? Do you know how much the homes actually end up selling for? Real estate agents have networks and knowledge on the matter. They know what features of a home people look for, the value of certain features, and what the demand is like. You will need to do a lot of research about current market conditions.

Do I know how to screen buyers and make contracts?

If you want to take the “for sale by owner” (FSBO) route, you will need to hire professionals to run background checks on your potential buyers to check if they are qualified to purchase your home. This is to ensure your buyers are qualified for financing and really can afford your home. You also will need an attorney to negotiate on your behalf and make the contract for you. You don’t want any loopholes in the contract that could work against you, and you also need it to be legally binding. Despite this help, you still need to decide who has the best offer and is good for it.

How much control do you want over the transaction?

Property owners who sell their home FSBO do it because of the control it allows them over the process. They want to dictate the price, the form of advertising, entertain prospective buyers, save money, and handle negotiations. They don’t want to deal with a real estate agent who may disagree with their methods.

Do your emotions hinder the selling process?

If you are too attached to your home, and have some unrealistic expectations about how much you are willing to sell it for versus what it’s actually worth in the market, you may have a hard time selling your home. Real estate deals a lot with emotions. You need to be pleasant and courteous to buyers. You cannot allow emotions and attachments get in the way of the transaction.

The task of selling a home is not something everyone can handle. Think about these questions before deciding how you would like to handle the transaction. If in doubt, you can always consult a professional agent to get clarifications about the process.

Need help buying or selling a home or any other type of real estate in Kew Gardens? Call (718)997-6000.

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