Frequently Asked Questions
Do You Really Need A Real Estate Agent In Order To Sell Your House?
In a buyer’s market, there are far fewer buyers, which means that the services of an agent become even more worthwhile. Over 80% of buyers will purchase homes through real estate agents. If you are not using a real estate agent, you might be losing exposure of up to 80% of the population that is currently buying.
If you are selling your home, it is possible to attract your own buyers. Yet an agent can assist you in netting more when it comes to your bottom-line. The NAR (National Association of Realtors), states that you can net close to 22% more. Yet a lot will depend on the current real estate market. In a buyer’s market, the buyers are less, which makes the services of an agent worth a lot more.
The most important role of the buyer’s agents involves providing you with ready access to houses that interest you. Your buyer’s agent will liaise between the seller or seller agent and yourself. They will also find out about what you need in a home, and then arrange appointments or viewings so that you can walk through the homes you are interested in.
If you have ever wondered if you need the services of a Realtor to purchase a home, the simple answer would be no. Certain buyers are hesitant when it comes to using a real estate agent to avoid Realtor fees. However, in most cases, the seller pays the commission and not the buyer.
Yes, you can. It is advisable to understand the requirements and laws. Realtors are required by law to show every offer to the seller they are working for. When it comes to buying a home, it is not necessary to hire a Buyer’s agent.
Most listing contracts will contain the terms that the Realtor will perform their selling and marketing services along with the commission that is due to them when a sale closes. The typical length for these contracts is usually 3 months, 6 months, 1 year, or you can decide on a period
To begin with, the realtor is obligated when it comes to providing you with a copy of your agreement with them, and they should give this to you as soon as possible. If you have already signed the agreement, terms in this agreement dictate the time-frame that you will be obligated to your realtor. These contracts usually have a start and an end date.
Even though both titles are required to be licensed in order to sell properties (real estate), the primary difference is that a REALTOR® will be a member of the National Association of REALTORS®. The Realtors have to subscribe to what is known as the REALTOR Code of Ethics, and this includes 17 articles. For most consumers, it is this part that makes the difference.
If you are a buyer, the seller’s agent and your agent will share the commission fee which is usually 5-6% of the price that the home is sold for. According to Ruth Johnson, a Realtor from Austin, TX, the standard practice involves the seller paying the commission for the buyer’s agent as well as the listing agent.
It states that the Seller and Buyer understand that the Broker might be representing more than just one seller or buyer, and can even represent both the seller and buyer in the transaction. There are no rules in place that stop an agent from showing a property to various clients. However, the real estate agent is required to let both the buyers know.