2022 Boise Idaho Real Estate Blog

Selling a Home in Today's Real Estate Market

Main Idaho Real Estate Insights

If you want to sell your home, it may happen fast. The market is hot and the best strategy is to get as many people to see the home as quickly as possible.

Some people want to avoid paying commissions.

I get it, it's a lot of money. And do you even get what you pay for? The answer is, a solid "Maybe?" That is unless you do your homework and treat the situation for what it is worth to you.

Normally in life, you get what you pay for. Wouldn't you agree? The best clothes and cars cost more than generic brands. They also look and feel better and depending on what you are buying may last longer. Does this carry over into real estate? To sell a home there is the FSBO route (For Sale By Owner), discount brokerages, investors, full-service brokerages, real estate teams, experienced agents, and brand new agents. Many times people will try to save money because they think we are smarter than the others that have gone before us and lost.

Recently a home-owner was excited to tell an agent I know that he had already sold his house and was packing. The agent was calling to give him a quarterly market update on his home's value. He went on to say that someone had walked up to his door and offered him $650,000 cash, no inspection, and quick closing.  

He took it! I don't blame him. He has owned his house for 20 years, so this would be a great return on his initial purchase.  The trouble is that he did not know what it was worth. The agent was calling him to tell him that his home's value has skyrocketed to $800,000!  This gentleman unknowingly left $150,000 on the table.

Reality is different than what we see on TV. No one is really going to walk up to your door with a stupid amount of money and offer to buy your house. If they are an investor or an agent representing a buyer, their agenda is to negotiate the lowest price possible.

There is value in the convenience of selling direct and it may be worth the discount. You can avoid the preparation of getting the home ready to sell and then having people tour your home at any moment. Also, the speed at which you can receive the money and move on with your life may be important to you.

If getting the most money for your home is the most important thing, there is only one way to find out!  Market your home to the public For Sale. Experienced real estate agents have marketing plans to prospect as many buyers as possible to attract offers. They also understand contracts and have a fiduciary duty to help clients determine the best result.

It is invaluable to have someone looking out for your best interest! The highest value of a real estate agent is someone who protects their client and advises them on the value and cost of each opportunity. It may be that selling direct is worth avoiding the hassle but you are probably leaving money on the table.

Trey Langford, founder

Posted by tlangford at 5/16/2021 8:03:00 PM

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