Are You Getting Top Dollar For Your Home?
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You always want to trust your real estate agent. They are empowered to do the best for you to sell their house. But they are human too, and they want the house to sell as quickly as possible, maybe not fighting for the last dollar as you would like.
ABC News tell us why.
Let’s say you put your house on the market, and get some promising offers. They lead you to believe that if you held out for another week, another offer might come in for, say, $10,000 more.
That’s good money, even after you pay the agents’ commission, typically 6 percent, or $600.
But here’s the problem: Of that $600, half usually has to go to the buyer’s agent — and of the $300 left, half has to go to your agent’s firm. So your agent only gets $150.
“If her incentive to hold out for an extra couple of weeks to get an extra $10,000 for you, if her incentive is $150, that’s not much of an incentive,” said Stephen Dubner.
To test that theory, Levitt and a University of Chicago colleague, Chad Syverson, studied 100,000 home sales, and report that when agents sold their own property, they kept their houses on the market almost 10 days longer, on average, and made 3.7 percent more money.
This is just something to think about when dealing with your realtor.
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