Real Estate Agents Boost Home Sellers' Profits Significantly
Real Estate Agents Deliver Higher Returns for Home Sellers
Recent research highlights a significant advantage for home sellers opting to use real estate agents. In fact, sellers who worked with an agent earned a remarkable profit of $207,500 compared to the $128,500 earned by nontraditional sellers. This difference, amounting to $79,000, emphasizes the value that professional representation can provide in real estate transactions.
Survey Results Highlight Seller Satisfaction
The survey reveals that 80% of sellers who did not hire an agent experienced regrets about their sale, while 54% expressed a wish that they had enlisted professional help. In stark contrast, among those who worked with real estate agents, an impressive 81% felt satisfied with their selling price, compared to 57% of nontraditional sellers.
Why Sellers Choose Not to Use Agents
Many home sellers believe that avoiding agent fees will save them money. However, 80% of those who went the nontraditional route are unaware of the average commission rates. This lack of knowledge may lead to misguided decisions, ultimately costing them more in the long run.
Trends Among For Sale By Owner (FSBO) Sellers
Interestingly, 58% of FSBO sellers indicated they would be willing to accept $15,000 or more below their asking price just to avoid paying a realtor commission, which averages about $12,000 for median-priced homes in the U.S. This highlights the misunderstanding many FSBO sellers have regarding the potential costs and how these could affect their home's sale price.
Issues with Pricing and Trust
Approximately 49% of FSBO sellers wish they had approached pricing their homes differently. In contrast, 73% of sellers represented by agents felt that their listings were priced appropriately. Additionally, 53% of unrepresented sellers believed that potential buyers are less likely to trust them, subsequently hampering their chances of a successful sale.
Willingness to Use Agents for Future Sales
The findings suggest a shift in attitudes among nontraditional sellers. Nearly 87% of them expressed a willingness to hire a realtor for their next property sale, with 51% indicating they would do so within two months if they do not receive reasonable offers without agent representation.
Impact of Recent Legal Changes
Moreover, half of FSBO sellers (50%) anticipate that recent changes in the National Association of Realtors' commission structure, which no longer require sellers to compensate the buyer's agent, will make them more inclined to work with an agent on future home sales. This sign of change reflects a growing awareness of the benefits of having professional assistance in real estate transactions.
The Role of Clever Real Estate
Clever Real Estate is a technology-focused company that has been revolutionizing the home selling process since its inception in 2017. They have facilitated over $8.5 billion in real estate transactions and matched more than 100,000 clients with agents, saving consumers over $160 million in commission fees. Their services extend nationwide, boasting a network of 19,000 agents.
Contact Information for Inquiries
For further information, please reach out to Jaime Seale of Clever Real Estate at 383356@email4pr.com or call 417-439-264. Clever's commitment to educational resources also reaches over 10 million readers each year, making them a valuable asset in the real estate landscape.
Frequently Asked Questions
1. What are the benefits of using a real estate agent?
Using an agent can significantly increase your selling price and improve your satisfaction with the sale process.
2. How much more do agents typically earn sellers?
Home sellers who use agents earned an average of $79,000 more than those who sold without representation.
3. Why do some sellers choose not to use agents?
Many sellers believe they can save money on commissions, but this often leads to lower sale prices.
4. What do sellers wish they had done differently?
A significant portion of FSBO sellers regret their pricing strategies or wish they had hired an agent.
5. How has the real estate market changed recently?
Recent legal changes regarding commission structures may impact how sellers choose to use agents in the future.
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