Listing a Home in New Smyrna Beach
If you are selling a home in New Smyrna Beach, there are probably a lot of factors you are considering. Obviously the most important is: How much will listing with an agent cost me? The way I like to answer that (as a real estate agent of course) is probably not as much as a major contractual mistake will cost you if you’re not experienced in home sales!
But to answer that question in a more suitable monetary fashion, there is no standard rate of commission that agents charge. In many markets across Florida the rate you’ll see often is 6% with 3% going to the buyer’s agent and 3% going to the listing agent. It’s my opinion that you get what you pay for. If you want a lower commission you are likely to get less attention from your agent or your agent may spend less money marketing your property. Ethically, they must treat you according to the standards of your brokerage relationship but there is no law that says an agent with a 7% commission on a listing can’t spend more in advertising that listing over their other listing that only has a 5% commission. To that degree, you get what you pay for.
Another question you might be asking yourself when considering whether or not to list a property in New Smyrna Beach with a real estate agent is how much more exposure will I get with an agent when I can post my own listing online with Zillow, forsalebyowner.com, or Trulia? Well that’s an easy one to answer. Most buyers prefer to work with an agent, especially if they are financing the purchase. Agents search MLS listings for their buyers, they don’t typically search Zillow. Many online resources are outdated and inaccurate. Real estate agents know this. MLS’s have rules, regulations, and fine structures for inaccuracy and are therefore a safer source of information. Buyers do not want to feel like they are not protected so FSBO’s may get quickly shuffled to the bottom of the show list.
Side note: The funny thing about FSBO’s is that sellers think they’re making more off their sale and buyers think they’re getting a bargain! The reality is, if the seller had been listed they probably would have had more exposure and offers, and may have higher net proceeds in the end. And the reality for buyers is they may have overpaid because the seller didn’t give them proper time for inspections or negotiated repair credits for major deficiencies.
Back to the point of this post, what will listing a home in New Smyrna Beach do for you?
Listing your home with a licensed professional protects you in many ways from liability after the sale, otherwise known as facts that materially affect the value that the buyer wasn’t made aware of. Did you fill out a seller’s disclosure? Did you allow time for inspections or have that right waived in writing? Your agent will make sure the appropriate forms that help protect you have been signed.
Do the advertisements paid for by real estate agents in New Smyrna Beach really help? I am speaking from a standpoint I discussed earlier regarding the amount of attention an agent gives a listing. Yes, the ads work. I’m not talking about a pop up ad that’s just interrupted your shopping or online reading. I am talking about consistent exposure advertising. Some advertising done by real estate agents is never even seen by the general public. For example, I sent out a mass email a few months back to local real estate agents, the subject title was “Lowest Price Water Front Complex Unit on Beachside”. We literally hadn’t had a single showing and the next day we had 4 showings and 2 offers. Yep, some ads you’ll never even see and they’ll be the ones that get it done!
Do some agents list your home in New Smyrna Beach and just stick in the MLS without advertising or doing anything beyond giving showing instructions? I’m sure there are plenty that do. That’s why it’s important to list your New Smyrna Beach home with an agent that has a history of marketing and success in marketing. Sometimes the most well known agent in town isn’t necessarily the most aggressive at marketing listings; they’re just the best at marketing themselves.
Another interesting factor is the number of listings an agent has. Most agents with a large number of listings do not work with buyers unless a buyer calls on one of his or her listings. The reason being, to put it simply, is that they just do not have time to run around showing property if they have 30 listings to manage. Still however, 30 listings is a lot to handle. My recommendation if you are listing with an agent with a high number of listings is to check that they have an assistant(s) or someone that can at least handle your showings, such as a showing service.
The bottom line, there are a lot of very good agents out there so just make sure to find one that will take care of you. One last word of advice when interviewing an agent to list your real estate in New Smyrna Beach that pertains to price. All sellers want to net as much as possible, but if an agent gives you a comparative market analysis with a price much higher than other agents, there’s a reason! They are trying to win your business with dollar signs and guess what? A price over market value means extended time on market and higher holding costs which will decrease overall net a closing. There are lots of agents that choose this strategy. Personally, I’m not one of them. Three years on market isn’t fun for anyone, I will tell a potential seller what their home is worth based on previous sales…not based on what they perceive it to be worth or what I know they think it’s worth to get the listing. You can test my theory…list with an agent that over values your home to win the listing, then count how many times they request a price reduction because there’s been no showings. It’s a fairly simple formula. If you “are in no hurry” then great! Price it high and see what happens, no shame in trying…but when it’s time to sell, look back at the CMA’s from your interviews and see who was telling you the truth and who was trying to win your business with a false sense of value.