When conducting a real estate sale and going through a professional firm, there are several things you want to avoid to make things go as smoothly as possible. Hosting an event can be quite overwhelming, so if possible, you’ll want to seek help from a real estate settlement company to make things easier. Most property sales companies are used to handling properties valued in the tens of thousands of dollars, but that doesn’t always mean the companies are reputable, so you’ll want to check your sources and rule out unreliable ones.
Here are 5 common mistakes to avoid when hiring a company to execute your sale:
- Be sure to research the company before agreeing to sign a contract and try to find out how long it has been providing its services. It is also important to know if your employees are members of professional associations, have specialized credentials, or are just ordinary people with no experience in selling property. Unfortunately, scams will crop up and knowing exactly who you are doing business with will help prevent a scam from happening. If you are not comfortable with company employees, do not hesitate to contact another company. Failure to properly review the real estate sales company can be costly and is a mistake that is made too often.
- Always compare the rates and fees of professional companies and make sure they are clear and that you fully understand them. There could be additional fees for security, moving expenses, garbage collection, advertising, cleaning, and other expenses related to the sale of real estate. The company will already take a percentage of the total amount made from the sale, so you don’t want to be affected by unexpected fees that you were initially unaware of. You should request the commissions and fees in advance and compare them with other companies to get the best possible deal. Many people do not make as much money as they can because they make this mistake.
- Don’t make the mistake of taking items out of the house after hiring a professional company, because the company could charge you for any lost commission. So if there is something in the home that you want to exclude from the sale, let the company know ahead of time so things don’t get mixed up.
- If you want to clean up before the property’s big sale and throw away any items you think are junk, go ahead, but make sure you are sure these items are in fact worthless. That old dusty piece of pottery or seemingly ugly vintage lamp could be rare and actually worth thousands of dollars.
- Lastly, don’t make the mistake of not hiring a professional real estate sales company. If you don’t know what you are doing and cannot properly research the value of certain items, you will almost certainly lose a lot of money. A real estate sales settlement company can assess the value of all items for sale in the home, clean up after the event, and monitor all transactions. Some companies even offer a balloon payment for items that are not sold. Despite paying a commission, you often end up earning more using a property sales company rather than going it alone.
