Real Estate: What is the Cost of Selling your Home
Question: How often does someone sell a house?
In the Portland Metro area, it is every 12 years on average. Within those twelve or plus years, real estate rules, laws and contracts change. Every two years a Realtor is required to earn 30 units of continual education. Daily they work with clients: see the range of buyer response and activity within various price ranges, work with sellers to coach them on how to prepare their home for sale, stays current of globally occurring events that effect the market locally, continuously show homes helping them understand inventory, communicates with other agents to understand what is occurring in their business, attends team meetings to learn updates in the realm of real estate, in addition to working on honing their service.
Given that a home is likely the most expensive asset a person is selling or buying in their lifetime, doesn’t it make sense to trust a professional? And yet, I often hear the comment ‘well, my friend or my family member said it is worth this…’ and not that what they have to say is not valuable, however, a professional who is daily working in the industry will be aware of the intricacies that a non-professional will not. If someone is sick, they go to a doctor. If someone needs legal help, they see a lawyer.
To that end, lets address commission. Do doctors and lawyers negotiate their rates? If a family sells a home on average every 12 years and we know that many families stay much longer, let’s see, for example, what a 6% commission looks like. First, it is paying for an agent to sell the home and for a buyer’s Realtor to bring a buyer. If 6% is broken down over 12 years that is .5% a year to pay two agents to get your home sold. Divide the 6% by 20 years and that is .3% a year not to mention how small that would be on a per day basis to sell your most expensive asset. Not only that, an agent’s experience can save you money, often the amount you are paying for their services as it can be recouped through their negotiation skills, their advice in preparing your home and the price range they recommend. The adage ‘you get what you pay for’ is very true. Let experience and peace of mind help you receive top dollar.
By Kimberly Shute: If you would like to learn more about real estate and move management services, please contact Kimberly at 971-227-1302 or visit www.pdxmaturemoves.com. At PDX Mature Moves, we serve seniors through real estate and move management services.