The Perfect Property

3 Financial Mistakes To Avoid When Choosing A Realtor To Sell Your Home

by Zachary Thompson

If it is finally time to put your home on the market, it is important to be sure that you have chosen the right realtor. Since the sale of your home is likely to be one of the biggest financial transactions you will ever participate in, it is a good idea to avoid common financial mistakes made by  other homeowners when choosing the right professional to aid in the process. Therefore, the following information will be very helpful.

#1-Hiring A Realtor Because He Or She Sold A Lot Of Homes Last Year

It is important to note that the number of sales made by a realtor is not necessarily the best indicator of their actual success. While it is easy to assume that the realtor is an expert in the field due to selling 20 or more homes last year, that information can be offset by determining how many homes the realtor listed.

The unfortunate truth is that a realtor could attempt to sell hundreds of homes, in which case selling 20 is not as great as it sounds. However, if the realtor was working with 25 or 30 clients to sell their homes last year and successfully sold 20, he or she may be a good person to contract with.

#2-Choosing The Realtor Who Charges The Lowest Rates

Since your goal is obvious making the largest amount of money you can from the sale of your house, it is easy to think that choosing the realtor who charges the smallest commission. Since realtors are typically responsible for the advertising costs associated with selling your home, like signs and open houses, the realtors who charge a lower commission than their competitors will usually need to work harder to make the same amount of money.  

When your realtor is very busy, there is a good chance that clients lack the personal touch and aggressive sales techniques that are usually needed to quickly sell a home at or above market value. That translates to fewer prospects and you may need to maintain ownership of your home for much longer than you want. Instead, consider investing in an experienced realtor and paying him or her the commission they need to do the job well.

#3-Not Choosing A Realtor Who Can Provide Additional Services Related To The Sale Of Your Home

While you have already made a good choice by working with a realtor, as opposed to a real estate agent who will have less training, you might be pleasantly surprised to learn that your realtor may have other ways to help you during that challenging time. You can find realtors with additional certifications by checking for any designations that will be listed soon after their name. 

For instance, if you are in the military, you would do well by working with a realtor who has successfully completed courses to become a military relocation professional. That person would have the initials MRP after their name on important documents, while older individuals should look for someone with the designation of SRES. That professional would be known as a seniors real estate specialist and have the specific skill set that you would benefit from.  

In conclusion, choosing a realtor is an enormous decision that can impact your financial status and options for a significant period of time. As a result, it is a good idea to learn from the mistakes of other homeowners when making that choice.