Choosing a method to sell your home may lead you in several directions. On one hand, the money you can save by selling online or by owner is monumental. On the other, you may be concerned about details like, sourcing the right buyers and getting the best possible price on your property.
Deciding whether to use a real estate agent to sell your home will be a big decision, and not one that should be made lightly. Agents perform many functions within their contractual arrangements. However, if home sellers are not prepared for the process, they may be caught unaware by steep commissions and fees.
This raises the question: are real estate agents the best way to sell your home?
The answer is up to you. It’s important to weigh the pros and cons of using an agent before signing any contracts. Be sure to do additional research that provides you with all the information necessary to make an informed decision.
Pros Of Using A Realtor
Licensed members of the National Association of Realtors®, are specially trained to sell homes as quickly and safely as possible. They must undergo extensive training and certifications to prove their ability, and only receive a commission once your home is sold. Because of this, they are further incentivized to get your home on the market right away and help you get the highest possible offer.
In addition, licensed Realtors provide very accurate price models for the homes they sell. Their market analyses are often vetted by a third party to ensure they are not over or under-priced in any way. This may help sellers net higher returns–although this is largely dependent on the realtor in question.
Finally, Realtors are often experienced negotiators with the ability to make your home’s listing public within a matter of hours. Their access to a large network of other interested agents and potential buyers on the MLS could help you make a sale within a short amount of time.
Cons Of Using A Realtor
Relying on a Realtor to sell property may not necessarily be the best option for you. There are some drawbacks related to hiring a real estate professional that may make an impact on your final sale.
Realtors come with a price tag. Many Realtors charge as much as 5-6% on the cost of your home. With all things considered, this may amount to thousands of dollars.
Open houses, another part of the Realtor selling process, is often a frustrating and bothersome experience for homeowners. According to recent studies, less than 6% of all buyers found their homes via an open house experience. With online research and 3D tours easier than ever, the open house experience may be outdated.
Finally, realtors may request that you have your home staged and to complete renovations prior to selling. These costs come up front with the prospect of returns down the road. However, most renovations take time without the guarantee of adding value.
How Else Can You Sell Your Home?
Using a Realtor to sell your home is not for everyone. For many homeowners, the costs and considerations of retaining a middleman does not outweigh the benefits involved. There are many alternative ways of selling your home that may not only be more efficient but result in faster sales as well.
For Sale By Owner
Sometimes called FSBO listings (for sale by owner), selling your house without a Realtor could allow you to get a better price on your home. By saving money on Realtor commissions, you will have more control over pricing and sell at record speeds. According to the National Association Of Realtors, the vast majority of homes that are for sale by owner sell within two weeks.
It is important to note that navigating the real estate market may be tricky without additional assistance.
There are a few things to keep in mind while marketing your home using FSBO:
- If you sell to a buyer with an agent, their commission may be negotiable. Speak directly with the agent to discuss options.
- Use non-arm’s length transactions to speed up the sale of your home.
- Consult with a trusted legal professional to read through all fine print or tiny details that concern you.
- Create a web presence for your property by listing it on sites, databases, and platforms.
- Get a second opinion on your listing price.
Marketing your home to iBuyers is another option for serious sellers in 2021. iBuyers are able to make all-cash purchases with little or no notice, and quickly identify themselves to potential sellers. These buyers never require remodels, renovations, or curb appeal additions. As-is sales are one of the most appealing aspects of selling your home online.
Marketplaces offer a one-stop-shop for buying and selling. Using a service such as Sundae.com simplifies the process further. Sundae’s marketplace connects homeowners looking to sell as-is fast with a network of vetted investors who compete to buy their home. Sundae takes the hassle out of home-selling with no showings, no fees, and no home repairs. There maybe tons of resources on these investor marketplaces where you might find a potential buyer quickly because in a sellers market, there are always buyers who are looking for an alternative way to find a home.
After an in-home visit, they prepare a property profile of your home and advertise it to investors who place offers, which are then presented to the seller with no obligation to accept. You can close in as fast as 10 days or take your time and close in 60 days. Sundae.com reviews currently come with a 93% recommendation rate, and are often referred to sellers trying to sell quickly and hassle-free.
Which Option Is Right For You?
Choosing between a Realtor or selling online must always be grounded in individual’s needs and outcomes. As of 2019, almost 90% of all sellers decided to use a realtor to help sell their home. However, that leaves a growing 11% of sellers who choose to move to FSBO, online to iBuyers, or an Investor Marketplace like Sundae.com.
No matter which route you choose to take, be sure to consider the pros and cons of each option before making your decision.