The average realtor commission is 5-6%. When selling a house for $500,000 a 5% commission is $25,000. For many home sellers this may be a lot of money and begs the question “Why do I need a Realtor?” Let me tell you from personal and professional experience that a goodrealtor is worth her weight in gold. Let’s take a look at some of the reasons why it makes sense financially to use a Realtor.
A Realtor is educated on the purpose and use of dozens of forms, reports, disclosures and technical documents that are required to transact real estate. Completing and understanding these forms can be daunting and overwhelming particularly when transacting the sale/purchase of real estate represents (for most people) the largest financial transaction in their lifetime. Realtors understand the mortgage process and can help buyers anticipate requests from lenders and stay in touch with lenders throughout the mortgage process to understand the reasons for any delays or obstacles.
Good Realtors are good negotiators and can craft a purchase agreement or counter offer that satisfies your top priorities. The buying/selling process can become emotional for a host of reasons (the home you are selling may have been your childhood home and filled with special memories) – a good Realtor can help you stay focused on your goal and be a shoulder to lean on when needed.