By Andy Meeks, September 26, 2018
By Andy Meeks, September 26, 2018
Selling your home is like a running a small business for a short, discrete, intense period of time.
This is perhaps the biggest transaction you’ve encountered since you bought that house, and there are a ton of factors to consider – proper listing price, appropriate timing, marketing needs, and the decision to stage or not to stage, to name a few. There are also hard costs to take into account: preparatory repairs, general sprucing/cleaning costs, and the costs of the actual transaction, like title insurance, escrow fees, taxes, recording fees and agent commissions.
And the biggest commodity to consider – the value and relative abundance of your own time. Selling a house takes a lot of time and concentrated, orchestrated effort over the course of several weeks or even months. This is where having a professional, licensed real estate broker is the best decision you can make, and you should consider interviewing a few different brokers to find someone who has the right match of personality, style and approach for your needs and values.*
Your real estate agent will be the CEO of your small business and will manage all aspects of preparing and marketing the listing, handling all communications and advocacy, ensuring disclosures, forms and legal requirements are properly met, and providing negotiating advice and support every step of the way. You want someone you can trust in this role, and who has the backing of a top tier team of other experienced, reputable agents. Because it takes a village.
I sincerely believe that full service, professional brokerages like Living Room Realty pay for themselves – and this is how: in 2017, Living Room Realty listings sold 50% faster than market average, and for 2.3% more than market average sale prices. When you start to factor in less time on the market (fewer mortgage payments, utility costs, insurance and taxes), higher-than-average sales prices, and less of your own time and hassle handling all aspects of the transaction, the ~2% difference** between a discount brokerage commission and a full-service brokerage commission can evaporate pretty quickly.
Living Room Realty is the second biggest brokerage by volume on Portland’s eastside, and is known for presenting beautiful listings that sell quickly and for a premium sales price. Our branding and marketing is top notch and our reputation is stellar among other agents in the city. Living Room Realty agents are part of nearly 1 in 10 transactions across eastside Portland neighborhoods, and our reputation among other agents is stellar.
Of course, if you’re thinking of making a move, I’d be honored to help you sell your house, or even have an initial discussion with you about what that would look like. I’ve committed to building my business based upon my reputation, my values and my results, and I work hard to establish trust as the foundation for my relationships. To build and strengthen that trust, I lead with an unwavering commitment to integrity, transparency and responsiveness.
As a committed professional and trained attorney, you can trust that I will advocate tirelessly, prioritize your needs and concerns, and firmly and fairly negotiate for your interests throughout the transaction.
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*Some people decide to sell their house on their own, a “For Sale By Owner (or, “FSBO”) situation that I would not recommend, and not because I’m a broker. You won’t be able to most effectively act in your best interests and are unlikely to get the maximum sales price on your home. Just don’t do this, really.
**Discount brokerages make a big splash advertising a “1% listing fee,” usually accompanied by an asterisk (*). This asterisk includes paying an additional 3% to the buyer’s agent. Now at 4% of the sales price, this commission will still not cover your staging expenses ($2500-3000, on average), and potentially other items like professional photography and marketing materials. When you account for the cost of those items, the commission savings between a discount brokerage and a full-service brokerage nearly evaporate. (Of course, every client is different, and agents structure their listing agreements and fees differently depending on various factors. This is part of the discussion during a listing appointment that you should be asking your prospective broker.)
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