If you’ve lived in your home for a few years, you’ve been building equity into your mortgage. When it comes time to sell, you’ll be glad for all the money you put into it. It’ll give you a nice amount for a down payment on a future house. However, many home sellers cringe when they realize they have to pay up to 6% to their selling agent.
As a result, many sellers are looking for ways to avoid paying the agent commission.
“Homeowners across the United States are figuring out that they do not need to pay what agents demand and they may not need an agent at all,” says Damon Darlin of the NY Times. “At the same time, technology is giving consumers tools to nearly circumvent the agent.”
You too can take advantage of these savings if you know where to look.
Historically, consumers have relied on agents to help determine a fair market value for their property and help market their home to buyers. But today, homeowners have virtually the same access to property data as agents. So, most consumers can already determine an accurate selling price. And marketing occurs automatically via MLS distribution on the internet. As a result, the main thing that savvy sellers need help with is the contract.
Online brokers like SimpleShowing charge a fixed fee of $5,000 to list the home on the MLS, which includes professional photos and help with things like negotiation. Say goodbye to the 6% commission!
As digital real estate apps and data become more prevalent, home sellers seem to be less and less reluctant to opt for agent alternatives. Tech-enabled brokerages have begun to emerge to meet the needs of these consumers that no longer need the hand-holding…