In today’s volatile real estate market, it’s hard to know which sales tactic will give you the best return on your investment. If you can’t afford to wait around until the time is right to sell, you need to know how to get the best offer right now.
In this article, we’ll discuss the three main selling options and their pros and cons so you can make the most informed choice for your situation. You deserve top dollar for your home, and we can help get you there. Read on to learn more.
1. Sell Your House Yourself
If you’re a do-it-yourself kind of person, selling your house on your own may by something you’re interested in. If you don’t mind getting your hands dirty to get your house in perfect selling shape, you can avoid paying agent fees with this selling option. The process looks like this:
- You get an appraisal to determine the current value of your home.
- You create a For Sale By Owner listing on a website such as Zillow or Redfin. Listing on Zillow is free, and listing on Redfin requires a 1% listing fee. You can also put a For Sale By Owner sign in your yard to alert passersby that you’re selling.
- You set up showings with interested potential buyers.
- You select the best offer and put together the sale paperwork.
If this sounds like a lot of work, that’s because it is. Selling your house by yourself takes skill and finesse. How quickly your house sells will ultimately depend on how well you market it, how popular your area is, and where you choose to list. But again, if you’re a do-it-yourself type, selling independently can be very rewarding. Let’s take a look at some pros and cons:
- Pros: You avoid agent fees. If you don’t have any projects to complete before you sell, upfront costs can be quite low. Also, you control the sales process from start to finish.
- Cons: Selling independently often requires some level of real estate experience. If you are not well-versed in the process and comfortable with the documentation, it could be overwhelming. In addition, it may take longer to sell, which isn’t ideal if you’re in a time crunch.
In short, selling your house yourself is a great savings option for those with some real estate experience that want to run the show from A to Z. If you don’t need to sell immediately, independent selling may work for you.
2. Hire a Real Estate Agent
Hiring a real estate agent can be a great option for those with little real estate experience that want some guidance through the process. Real estate agents have the knowledge to do the heavy lifting and get you a great offer. Here’s what that process is like:
- You reach out to a local real estate agent who can help you determine your home’s current value.
- You sign your agent’s listing agreement, which states that they will represent and sell your home on the market. Instead of a For Sale By Owner sign, you can have their realty sign in your yard.
- Your agent takes it from here. They list your property on Multiple Listing Services (MLS), respond to inquiries, host open houses, and host showings with interested parties.
- Your agent takes care of the sale. They handle the negotiations and draw up the paperwork. After the sale is complete, they and the buyer’s agent collect commission fees.
A real estate agent is often a pricier selling option because of agent fees. And, like selling on your own, it can take a little longer. Here are some pros and cons of this option:
- Pros: Your local real estate agents will know the market. They’ll know how to get you a top offer, and potentially even a cash offer. An agent will take care of the entire process, which will make selling way less stressful for you.
- Cons: Agent fees will usually cut roughly 3% into the profit of the sale. It’s nice to have someone else do the legwork, but of course, you have to pay for it. In addition, since agents tend to use traditional marketing methods, selling can take more time than you may have.
In summary, a real estate agent can take the stress of the sales process off of you. If selling seems intimidating and you don’t feel you have the knowledge necessary to get the best offer, an agent is a great choice. Just keep in mind that using an agent can take anywhere between 3 and 12 months.
3. Sell to a Real Estate Investor or Wholesale
Selling to a real estate investor or wholesaler is the best option for those who need to sell their home as quickly as possible. With this option, you can sell within a month. Here’s what this process entails:
- You contact a real estate investor in your area.
- The investor evaluates your home and its worth. They come up with an offer, and you decide whether it meets your needs.
- When you agree on the offer, the investor handles the sale paperwork. They work with a title company to draft all the necessary documents for closing.
Selling to an investor is a simple, quick process. It requires no sales experience on your part as the investor handles all the documentation. It also doesn’t require upfront investment. Here are some more pros and cons:
- Pros: Selling to an investor has many pros. First of all, you get to sell your home as-is. There is no need to finish home projects or even move out before you sell. For those in a time crunch, this is invaluable. Closing is easy, fast, and efficient. You get paid in cash.
- Cons: By selling to an investor, you will likely be selling for below market value. Essentially, this is the price you pay for the speed and convenience.
Start the process by simply researching legitimate investors and wholesalers in your area. Selling to an investor is a great option for people who need a fast, cash payment for their home. If you want a smooth and quick selling process with no upfront investment, selling to an investor is the best choice for you.
Contact House Buyers Cash Today
You don’t have to fix your house up or pay agent fees to get a great cash payout for your home. If you need to sell your house for cash quickly, House Buyer Cash can help you. We’re experienced investors that buy houses in any condition. For a no-obligation evaluation of your home, contact us online or give us a call today at 973-384-1054. We look forward to working with you.