Top Discount Real Estate Agent In Santa Monica
A successful real estate transaction begins with selecting the right real estate agent. Santa Monica's top discount real estate agent shares, When it comes to selling a home, even minor price differences can have a significant impact on your bottom line. As you may be aware, a commission is agreed upon by both the seller and the listing agent.
The commission is expressed as a percentage of the final agreed-upon price. Brokers are experimenting with traditional models in a highly competitive real estate market, which could result in significant savings for sellers and buyers.
When deciding who to use to sell your home, realtor commission rates can be one of the most important factors. The lower the commission rate, obviously, the better. Lower commissions, after all, mean more money in your pocket.
Understanding how to find a good realtor is critical when buying or selling a home. Your agent will guide you through every step of the process and answer all of your technical, tactical, and financial questions, saving you hours of Googling. A good real estate agent will also be well-versed in the intricacies of the local housing market.
For most people, the prospect of selling their home is terrifying. To begin with, there are usually many things to do just to get it ready for the market. Aside from the standard clean-up, paint-up, and fix-up chores that invariably end up costing more than you anticipated, there are always lingering concerns about how much the market will bear and how much you will eventually end up selling it for.
Will you get your asking price, or will you have to lower it in order to close the deal? After all, your home is a significant investment, no doubt a sizable one, so when it comes to selling, you want to get the best possible return. Despite everyone's desire to get the best price for their property, most people are unsure how to go about doing so.
Some savvy sellers, on the other hand, have long known a small financial trick that has helped them get top dollar for their property. In fact, on rare occasions, they have used this powerful financing tool to sell their properties for more than they were worth. Although this is more of an exception than the rule, you can certainly use this technique to get the most money when selling your home.
Seller carry-back, also known as take-back financing, has proven to be a reliable method of closing deals. Even though it is something that most people do not consider when selling a home, it is something that they should. The Federal Reserve reports that there are currently over 100 billion dollars in seller carry-back (seller take-back) loans in existence.
That is a lot of money by any measure. Most importantly, it is a clear indication that more people are beginning to use seller take-back financing techniques because it provides numerous financial advantages to both sellers and buyers. Seller take-back financing is a straightforward concept.
When a property is sold, the seller acts as a lender, assisting in financing all or part of the total transaction. In effect, the seller is lending the buyer money toward the purchase price, whereas a traditional mortgage company usually funds the remainder of the purchase price. The property serves as collateral for a seller's take-back loan.
The loan is then converted to a primary mortgage and fully secured by the property. In most seller take-back financing transactions, the buyer repays the seller with interest over a set period of time in accordance with mutually agreed-upon terms.
Typically, the terms require the buyer to send the payments, which include principal and interest, on a monthly basis. This is advantageous because it provides the note holder with consistent monthly cash flow. Furthermore, if the note holder wishes to cash out, he or she can always sell the note for a lump sum cash payment.
An experienced real estate agent will provide your home with much-needed online exposure via the Multiple Listing Service (MLS), exposing it to thousands of potential buyers. In addition, an agent will devise a targeted marketing strategy to market your home to their extensive network of buyers and agents.
That cost will be offset by a great real estate agent. According to Realtors data, the average home sold by an agent last year brought in $349,000. In comparison, the typical For Sale By Owner home sold for $290,000. (1) That's nearly $59,000 in difference!
Trust us when we say that working with a great real estate agent will help you get the most money for your home.