Money in the Middle EP 3: Selling a House: How Much Help Do You Really Need?

Hi and welcome to this Rethink Open House series titled Money in the Middle. This is Episode 3 Selling a House: How Much Help Do You Really Need?
Imagine walking into a hotel and asking for a room for the night. And the person at the front desk tells you, well, we’ve got a beautiful presidential suite. It comes with a concierge who will make your restaurant reservations, arrange your transportation, book your entertainment, and take care of practically everything for you. It’s wonderful. But it’s also incredibly expensive. And you say, I appreciate that, but I really just need a comfortable bed and a place to sleep. Well, what if they told you that’s not how they do business? If you want to stay here, you have to buy the entire package.
Now, that would be ridiculous, wouldn’t it? But I think there’s something similar going on in real estate. When most people think about selling a house, they think about hiring a real estate agent, putting the property in the Multiple Listing Service, paying a commission, and going through the traditional process. And for some sellers, that may be exactly what they want. But what if you don’t need all of that?
Maybe you know the value of your house. Maybe you’ve already got a buyer. Maybe you’re comfortable negotiating, but you want somebody to help with the contract. Or maybe you don’t want to deal with buyers at all, and you’d prefer to hire an experienced real estate agent to handle everything. Those are very different situations. Why should they all require the same level of service?
I’m a real estate broker, and I’m certainly not suggesting that agents don’t provide value. A good agent may help with pricing, marketing, negotiations, inspections, contracts, and getting a difficult transaction to closing. That can be extremely valuable. But shouldn’t you be able to decide which services you need and what you’re willing to pay for them?
Maybe what you really need is outstanding photography and a walkthrough video. You can hire a media professional for that. Maybe you need help presenting your property online. Rethink Open House provides a place to do that. Maybe you want a professional to help negotiate an offer or manage the transaction. You can look for that assistance too. The important thing is that you’re making those decisions based on your circumstances, rather than simply accepting the entire traditional package.
And here’s something else I want homeowners to think about. When you sell your house, how do you know you’ve gotten the highest possible price? You really don’t. It’s not like driving down the street and comparing the price of a gallon of gasoline at several stations. Houses are different. Buyers are different. Timing is different. You might get an offer today and never know whether somebody would have paid more tomorrow.
And if the buyer is financing the purchase, there’s another consideration. Let’s say somebody offers you a great price, but the lender’s appraisal comes in lower. Now you’ve got a problem to work through. The buyer might need to bring additional cash, negotiate a lower price, challenge the appraisal, or possibly walk away, depending on the contract. The appraisal doesn’t automatically change your sales price, but it can certainly affect whether the transaction closes.
So let’s say one approach gets you ten thousand dollars more for your house, but it costs you fifteen thousand dollars more in commissions and other selling expenses. Did you really come out ahead? Of course not. And that’s why I believe sellers should pay more attention to what they keep, not just what they sell their house for.
Now, that doesn’t mean the cheapest way to sell is always the best way. A great agent might help you get a better result that more than justifies the fee. But you should understand the value you’re receiving. You should also understand the risks, the time involved, and what happens if the transaction doesn’t go as planned.
That’s part of the thinking behind Rethink Open House. You can present your property professionally, let buyers experience it online, and choose what additional help makes sense for you. If you want a real estate agent involved, that’s fine. If you need more exposure through the MLS, that may make sense too.
The point isn’t to eliminate professional services. It’s to give buyers and sellers more control over which services they use.
When you stay at a hotel, you get to decide how much service you want to pay for. I think homeowners deserve that same consideration when they’re selling one of their most valuable assets. Because the goal isn’t to spend the most money selling your house. The goal is to get the best result for you, including how much money you have in your pocket when it’s all over.

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