Using a REALTOR® to sell a house is a hotly debated issue. Some think it is a waste of money while others believe that it saves much time. Regardless of the consequence of the debate, using a REALTOR® has its merits. The following are the six steps to selling a house with a real estate agent:
Step 1: Deciding to sell the house
The first step in this endeavor is for the real estate agent to help the selling homeowner determine how quickly they want to sell the house and how much they expect to gain from the sale. Liquidity has its advantages and disadvantages. Being able to move a piece of real estate quickly guarantees quick cash if its needed urgently but the price will most probably be lower than if the house was to be on the market for longer so that a wider variety of buyers were to check out the house. On the other hand, demand could dwindle if the house were to be on the market for too long and hence the price would drop in accordance.
Step 2: Pricing
There are a lot of factors to consider when pricing a house. General market levels should be considered. The kind of house and its location should also be taken into account. Therefore, the price of a house is not something easy to determine, but there are certain rules of thumb that one can utilize. Buyers will obviously try to negotiate and lower the price of the house. The price should hence be set higher than the price expected. Aggressive pricing is also dependent on what is decided about the time frame within which the agent is required to sell the property. The price will vary, but the fluctuations should not be too erratic.
Step 3: Staging the house
Staging the house is the next step. In real estate, opening up the house for potential buyers is akin to marketing. Everything should be in place. By this point, they should have fixed everything that was broken. The house should undergo thorough cleaning so that anyone visiting the property should find it spick and span. All the outstanding aspects of the property should be accentuated and showcased. Selling a house with a real estate agent is advantageous in this regard because their experience will help them know exactly what to do. A first impression is a precious thing, and in real estate there are no chances at a first impression. The third step is the stage where the house gets sold. It is on the market, and the best suitor will claim the prize.
Step 4: Negotiating the offer
After the previous stage of marketing the property and allowing potential buyers to inspect the building comprehensively, offers are bound to be made. In the best case scenario, many offers will be put forth, and the sellers will have a large array from which to choose. Most offers will be presented by prospective customers who would have visited the property more than once. In most cases, not that many offers will be presented and it will be up to the real estate agent to handle the negotiations. Another advantage of selling a house with a real estate agent is that they are expert negotiators. They ensure that the sellers get the best price possible while the buyer gets a good deal on the house. It is an intricate balance to please all parties involved.
Step 5: Move out
After negotiations are through, one offer will be chosen as the winner based on an agreement among the seller, the agent, and the buyer. When the sellers accept the offer, they are obligated to move their personal property into another house or storage. Moving out is a laborious process and can take weeks. The agent can organize for moving companies to take care of the relocation of the goods. If preferred, the sellers can make private arrangements to have their stuff moved.
Step 6: Closing
The final step is the transfer of funds to and from all parties involved. Nowadays, the wiring of funds directly from one bank account to another which is not only safer but faster as well. All of this is done through the Title company. The title company is a third party on the transaction that ensures every party is settled and the buyer receives a clean insured title. The average real estate agent commission in Texas is 6%,. Whatever the case, only after payment to all parties is complete can the property claim to be sold.