Paying Higher Commissions To sell Fast
People occasionally sell their property to prospective buyers who are looking to own new properties in a specific geographical area. However, the selling cycle has proven to be a tedious process that may cost much time and money while still find it difficult to get a buyer.
Home sellers have resulted in the services of a realtor who will act on their behalf on the whole process until it is completed. However, it is required that you pay a higher commission to your agent so that your home can be sold faster. The following are some of the reasons justifying higher commissions to your property seller.
• Property Appraisal
Before any home can be sold, an appraisal of the whole property must be done to ascertain the actual market value. This is usually done to prevent a situation where you might have formulated a selling price that is below market value leading you to losses or an amount that is higher than the market price which could cause difficulties in getting a buyer.
With home prices on the rise across the U.S., your agent will evaluate a fair price in consultation with property appraisers. Within a short period of time, he or she will use their extensive network and your home will soon be listed for sale.
• Property Listing
A highly motivated realtor will take the professional photos for your homes, including all the sides and the flower gardens so that he can portray your property in excellent condition as compared to other properties for sale in the same region. Moreover, the photos will be taken in a 3D so that potential buyers can have a clear picture of your house.
The seller will be working hard to ensure that the house attracts buyers within a short period so that he or she can start enjoying the higher commission that he will receive after the sale of the property.
• Giving Your Home Priorities
It is essential for you to learn that the real estate agent has a large list of other homes they are selling on behalf of other people. The law of nature will apply in this scenario such that the person who pays a higher commission gets added advantages such as giving your home a priority.
Agents will take buyers to your house first before they can take them to other properties on their list. They will tend to act as if your home is one of the best properties they have by giving it the publicity it deserves. It will also be included in the ‘first moving’ list.
• Extensive Networking
Home selling agents have a large network with other professionals working in the same or related industries. They also have the contacts of those people who want to buy a home.
In any chance you promise to give a higher commission, they will contact home buying agents and any other person who wants to buy a home such that your property will attract huge attention in a shorter period.
Among the agents and people contacted, a prospective buyer could emerge and offer a bid that is consistent with your property valuation. You could end up selling your estate in a span of a few weeks.
• Preparing Your Home for Sale
It is in the public domain that people tend to sell those properties that they are not using or when they want to move to another location. This means that the house for sale might not be in the right conditions such as untrimmed grass, broken parts not repaired or replaced, and bad maintenance of the overall property.
A real estate agent who has been promised higher commission will conduct property face lifting activities such as painting, trimming grass lawns, and repairing broken parts of the home. He or She will ensure that your house captures the imagination of prospective buyers and in no time, your home will get a new suitor.
Research studies have shown that well-maintained properties are likely to reach buyers at a shorter period as compared to poorly maintained properties.
• Extensive Marketing
Your agent must find out potential buyers for your property in the market where many people are selling their properties. This means that only an aggressive marketing strategy can be used to find a buyer within a short period.
A seller who will get a higher compensation for selling the home will use all the possible marketing channels to ensure that the property receives a buyer within a short time.
He or She will use his company website, social media platforms, and can even go further to higher the services of mainstream media to ensure that the property gets a buyer within the shortest time possible. Paying higher commission encourages your agent to be aggressive in advertising and marketing your home.
• Price Negotiation
Negotiating the best price of the property has been known to be one of the factors that cause home sellers to stay for more extended periods before their properties get a buyer. The prospective buyer is focused on getting the property at the lowest price possible while you are bargaining for the best price of your property.
This might take ages unless you chose to pay your agent a good commission. Once the person selling your property is aware that they will receive a proportion of the amount the property will get, he or she will conduct a speedy process that ensures you get a good return for your property and there for gets a higher commission.
• Closing the Deal
This is the final stage that focuses on transferring the property to the potential buyer. At this stage, prices have already been agreed, and the buyer is required to deposit money in the seller’s account pending the transfer of the property.
However, this is a legal process that is very tiresome and time-consuming, especially in situations where the concerned parties don’t have a legal background in property transfer.
However, an agent who has been paid higher commissions is aware of attorneys who can aid in property transfer because they work in the same industry. He will need to call him, and the deal will be concluded seamlessly within a short period and without challenges.
A real estate agent has witnessed thousands of property transfer which means that he has the necessary knowledge and experience in transferring your property to the new owner immediately.
You might find it hard to pay a property agent higher commission because you think he has no part to play in the sale of your property. Some people have even gone further to sell their homes so that they can save the commission that would have been paid to the agent.
They have ended up staying with their properties for larger periods without finding a buyer, what has caused their properties to reduce in value. It is necessary to pay your property agent higher commission if you want your home to be sold within a short period.