Once you have come to the decision to sell your home you have three options, sell it yourself, work with a broker or sell to a “We Buy Houses” company. There are advantages to each and which you choose will depend on the situation you’re in. Let’s have a look at each options and which suits you the best.
Working with a Realtor
This is the most common option used in selling homes. There are advantages working with a realtor, they get higher prices for your property and they will sell it faster than you trying to sell it on your own. Agents understand the market, they have huge networks to tap into and they can help you stage and fix your home in order to get the best possible price. The biggest disadvantage to working with a realtor is the cost. Agents charge a commission on the final selling price and that is usually around 6%, that can add up to thousands of dollars rather quickly. Closing can take anywhere from 30 -60 days before you have your cash in hand.
Selling on Your Own
Selling on your own is advantageous because you don’t have to pay any agent commissions. You also don’t have the connections or knowledge that an agent has either. The marketing, pricing and everything will be completely up to you. Closing the deal can still take up to 60 days and you may not get the same price an agent would get you. Although selling on your own now is easier than it has even been and you can add your home to a multiple listing service on your own.
“We Buy Houses” Companies
These types of companies can have a less than stellar reputation and are often thought of as dishonest or taking advantage of unsuspecting sellers. That’s not really accurate but there are pros and cons to working with them. The let you know upfront that they will buy your house quickly and you can have your money in days rather than months but they are only going to buy it at a deep discount.
Before you dismiss this option out of hand think about your situation for a moment. You won’t be paying agents’ fees, no seller concessions, you probably won’t have to pay closing costs, no inspections, you sell your home as is. This is a good deal for you if your house needs lot of repairs that you can’t afford to make, you need cash right now and you want to get out from the responsibilities of taking care of your property right now.
How you decide to sell your house is a big decision that you shouldn’t take lightly, weigh the pros and cons and choose the best option for you.