How can using a Fargo Moorhead Realtor save you money when selling your home when it costs on average 6% in commission fees? Because on average a home sold using a Fargo Moorhead Realtor will sell for 16% more than those sold by the owner. Therefore after commissions the average home seller will receive 10% more.
But why do Realtor's get more money for your home? One reason is that Realtors know the market in Fargo Moorhead. They know how much homes are selling for in the area, if its a good market or a slow market and so have a much better chance of pricing your home correctly and not undervaluing or overvaluing it.
They can also market your home better to more prospective buyers. They know when and where to advertise your home, and have access to the Fargo Moorhead MLS which is used by other Realtors to find out what homes are currently for sale.
If you sell your own home you will probably still need to offer a 3% fee for the buyers Realtor. More than 80% of all buyers work with Realtor's, so even if you manage to sell your own property the chances are that the buyer will be working with a Realtor who will want paying. If you don't pay them then the buyer will have to. One common mistake made by FSBO's is offering less than 3% for the buyers commission, if you do this you may find that Realtor's are reluctant to show your property. After all if you were paid on commission and one job offered 3% and another 2% which one would you do?
Another problem FSBO's experience is low ball offers. A buyer often thinks that because the seller is not using a Realtor they can reduce their offer by 6%. The logic being that the seller is saving 6% therefore I they can also ask for this reduction.
OK so you should use a Realtor for selling a home but what about buying a home? Unlike other states, in North Dakota the buyer does not pay a commission to their Realtor, this is paid for by the seller. Therefore it does not cost the buyer anything to be represented by a Fargo Moorhead West Fargo Realtor.
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