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What You Get for Your Money
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All savvy businesspeople know that, before making financial decisions, one must always consider the profit to expenditure ratio. Also known as the return on investment, this figure tells whether an investment is worth the benefits gained.
This longstanding business practice has now begun making inroads into how the average person sells a home. For decades, the accepted practice when selling a home has been to secure the services of a real-estate agent. In return for handling the procedural tasks of the showing, negotiation, and sales process, the agent would receive a commission on the sale of the home. At a standard agent commission of approximately 5%-6% of the selling price, in today’s real dollars, this translates into $10,000- $12,000 on an average home priced at $200,000. Over the years, few people have questioned the necessity of working with an agent. Today, however, more and more sellers are beginning to wonder if the services are worth the cost and if there might not be a better way.
According to the US Bureau of Labor Statistics, real estate brokers and sales agents are those who “have a thorough knowledge of the real estate market in their communities. They know which neighborhoods will best fit clients’ needs and budgets. They are familiar with local zoning and tax laws and know where to obtain financing. Agents and brokers also act as intermediaries in price negotiations between buyers and sellers.”
In essence, an agent assists in determining a listing price for your home, handles advertising, helps identify potential buyers, shows your home, and (ideally) negotiates a sale. While few people would argue that there is work involved in selling a home, is the labor of an agent on your behalf worth the $12,000 or more that you end up paying once the deal is closed?
According to the US Census Bureau, the median household income in the United States is $44,389 (data available in 2004). This means that, conservatively speaking, the average home seller will pay the equivalent of 22% - 27% of his or her yearly income in the form of commission to a real estate agent.
This begs the questions: Is the return on investment worth the cost of hiring a real estate agent? Why pay an agent when you can sell your own home and pay yourself? A growing number of sellers are saying “No” and opting to be their own agent and keep the commission for themselves. At no loss to you, the seller – and in reality at an average net gain of $10,000-$12,000 – you could sell your own home and keep the commission! The mission of www.NoCommish.com is to help you do just this.
The climate has never been better to wade into the water of the For Sale by Owner market. So stop losing out by paying an agent to do what you could pay yourself to do. Come join the growing number of home sellers across the country who are tapping into the abundance of tools available to them through www.NoCommish.com and discovering for themselves how simple selling your home really is! After all, you have nothing to lose but the commission, and your return on investment will have you smiling all the way to the bank.
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