Selling your house can be a difficult process because there are so many options. Should you go with listing with a real estate agent, selling to a cash buyer, or selling it on your own?
One of the many advantages of owning real estate is having plenty of options. There are options for buying as well as selling it. As a homeowner that is interested in selling your home, you need to know what your specific options are.
Selling Your House Yourself
For sale by owner is often the type of sign you see today on homes for sale. This is certainly something homeowners can do. Many don’t understand how difficult this can be. Putting up with the hurdles that come with not listing with a real estate agent can save money.
The Pros of How To Sell Your House By Owner
The Time Factor
If you are not in a hurry to sell your home then listing it for sale by owner can be a distinct advantage. You can set your asking price and hold firm to this. The schedule for showing the home will be dictated by you. This can be done during the times that are most convenient for you.
Change of Mind
If you decide that you don’t want to sell your home you can simply stop your efforts to do so. You have the option of when you want to sell and you can change your mind as often as you like.
The biggest reason that most people prefer not to use the option of listing with a real estate agent is because they can save money on the realtor fees. This is usually a 6% fee, which can be a big saving on the home sale.
The Cons of Selling Your Home Yourself
Not using a listing with a real estate agent means being prepared to devote plenty of time to the home sale.
You need to be available to take calls from interested buyers who will want to set up an appointment for a showing. You will then have to be available to show the home. Closing without a realtor means knowing the legalities that are involved.
You will need to be involved in some form of advertising. This takes time in writing up the ad copy. Then there will be some research involved as to where to advertise.
Learning Curve That Comes With How To Sell Your House By Owner
When you go the route of listing with a real estate agent you are relying on their expertise. There is a lot that goes into selling a home. You are going to have to learn at least the basics of this to be successful. These professionals know how to sell a home by emphasizing its strong points. With you having a personal attachment to the home you may focus on this. Potential buyers may not find what you consider to be strong points applicable to them.
It is important to consider the safety factors when allowing strangers into your home. Most often those who want to look at the home come in pairs or groups. This may make you feel uncomfortable as you don’t really know what their true intentions may be. Closing without a realtor can leave you open to making some serious mistakes.
Selling Your House for Cash
Another option besides listing with a real estate agent is to simply sell your home for cash. This is a good solution for a quick sale with a flexible asking price.
The Pros of Selling Your House for Cash
You don’t have to go through the inconvenience of having to show your home to potential buyers. Most often when a home is up for sale it means multiple showings before it sells. There may also be a need for several open houses which can be a nuisance.
Some individuals are in poor financial shape. If you need quick cash then selling your house for cash may help with this
Selling your house for cash is the fastest method for home selling. It takes very little time for the sales contract to be drafted. Usually, a very quick closing date can be arranged.
The Cons of Selling Your House For cash
A cash sale usually doesn’t give you much room to negotiate the selling price. The buyer has a set amount they are willing to spend. You need to decide whether the cash price is something you feel is fair and that you are willing to accept.
Normally with a cash sale, the closing is much quicker. You need to decide whether it will allow you enough time to make the move and find new lodgings.
Listing with a Real Estate Agent
There are a lot of good reasons why most home sellers want to follow through with a listing with a real estate agent.
The Pros of Listing with a Real Estate Agent
Real estate agents are professionals. They have all the knowledge necessary to sell real estate. They have the expertise to analyze the market in the areas in which they work.
Agents have many different resources to draw from when it comes to potential buyers. They usually have access to large databases. These connect to other realty agencies that list potential clients.
A real estate agent has the expertise to be able to advertise the home in the right venues. They know how to write the copy and how to promote the sale.
Realtors dedicate their time to showing the home and have the knowledge of how to close the sale. They have the negotiating skills when it comes to the financial aspects of the sale.
There is a lot of paperwork and legalities to tend to for a home sale. Real estate agents are trained in this area. They can avoid some of the costly mistakes that can be made during a home sale.
The Cons of Listing With a Real Estate Agent
The 6% realtor fee is the biggest disadvantage. You will have to pay this once the sale is closed.
You are making a commitment with your chosen realtor. They will be the only one allowed to sell your home during the duration of the contract.
You have the ultimate say in what your house should be listed for. Your realtor will encourage you to be realistic in the listing price. This will be based on his analysis of sales in your area.
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The information presented in this article is for educational purposes only and should not be considered legal, financial, or as any other type of advice.