Living in New Jersey may be great, but selling a house in New Jersey can be challenging. Getting started is half the battle. The first step is finding a realtor. And how do you choose the best one, what price to accept, how to negotiate with potential buyers, and the whole moving process? But where can you find a list of real estate agents in New Jersey https://www.fastexpert.com/top-real-estate-agents/new-jersey/ that you can trust?
In this article, you will find helpful tips and answers to some of the most common questions.
First of all, you should decide how you are going to sell your property. You have several options here. Each of which has its pros and cons.
Of course, you may hire a professional who would help you to deal with all strenuous work. It is one of the most common practices on the market. There are many great real estate agents in Trenton NJ, for example.
But, without a doubt, you should choose the best one for you. You may try to work with a few of them for the first time. Compare their approach, marketing strategy, and communication skills and your personal experience with them. After all, you will know when you’ve found the right person to work with. It is an excellent idea to work with a real estate agent who specializes in your neighborhood and knows it well.
The next option for you is to do the work on your own. This is known as FSBO, which means “for sale by owner.” A positive side of this decision is that you’ll be able to save some money or money from the so-called real estate commission. It is the amount of money you pay to a realtor after the deal is closed. The percentage of the payment is different in each state. In New Jersey, this amount reaches approximately 2,59%.
On the other hand, if you decide to sell your house with FSBO, be ready to deal with some stress, plenty of paperwork as well as self-education on laws and requirements. It is common to make some mistakes while trying to sell real estate, especially if your profession is another kettle of fish.
Moreover, you have to realize that house selling is going to take you some time. In vain to hope that you will sell real estate in one day, one week, or even one month. Not only does paperwork require your time, but also marketing. You will have to do advertising by yourself. And if you don’t have previous experience, it may be difficult. Last but not least, FSBO doesn`t always save you money.
The truth is that when you calculate all the external expenses you`ve had, the number you are left with after the sale may seem a little bit disappointing.
The third option is to sell your house to a cash home-buying real estate company. This option is worth your attention if you need to get some money really quickly. A good side is that “a cash buyer” is one of the fastest ways of selling your property.
In general, it takes a little longer than a week, while selling a house with a realtor or on your own usually requires a few months. Moreover, when you sell real estate to a cash home buying company, you are not supposed to pay a real estate commission. A bad angle is that you will probably get only 50-70% of the amount of money your house is worth. This is why the third option works with time but not the money.
Signing the agreement
If you eventually have decided to work with a real estate agent, it is high time you thought about signing the listing agreement and seller disclosure. Only after the signature, the entire process can be started. But before signing, you`d better look at different types of agreements, their differences, and all other key factors involved.
For example, the most common practice is called single agency, which means that your realtor works only for you and gets his payment after selling your house. Another important factor discussed in the listing agreement is a real estate commission.
Not only is a listing agreement important, but also seller disclosure. To put it briefly, it is the type of agreement in which a realtor puts down all the services they are going to provide you with. There are two the most common types of such services. The first one is called the single-agent relationship. It means that an agent or broker works only for one party of the sale. Either buyer or seller.
Usually, this kind of cooperation provides a client with more safety and protection and stronger assistance. The second type is called transaction broker relationship, which means that you are provided with a minimum set of services as you are not the only party a realtor or broker represents. Naturally, you won`t receive all the benefits.
Dual agency is also common in New Jersey. It means that the company may represent two parties in the deal at the same time, both buyer and seller. This situation brings many benefits to a realtor but not the client.
Sometimes the interest trap may appear, which makes the entire process even more complicated than it has already been. Therefore, you should think twice (or even more times if needed) about whether to enter into the dual representative situation.
Choosing how to sell your house is very important and, in some ways, even crucial.
Of course, it is only the beginning. After this you will have to take other steps such as pricing your property, preparing it for the sale, negotiating with potential clients, and many others to come. But the right start leads to a desirable result.