One of the first things to decide when choosing to sell your home is what path you will take in the sales process. Here is a look at four major ways you can go about selling your home and some positive, and negative, aspects of each.
Hire a Real Estate Agent
The “traditional” way to sell a home is through a real estate broker or agent. Keep in mind, a Realtor is someone who is a member of the National Association of Realtors and has agreed to certain standards of the Association. Every Realtor is a real estate agents but not every real estate agent is a Realtor. The good news is working with a professional real estate agent provides expertise through your sale, beginning to end. They are responsible for marketing your home, fielding offers, providing tours of your home and working with you through closing. The downside is your commissions for an agent can be significant (5-7% of the sale price) and the process can take months.
Work Through a Discount Brokerage Company
Today, there are discount real estate sales services that provide some professional tools and advice but only serve to assist you in the sale. The good news is that you will pay a smaller percentage of the sale price in commission (2-3%) but will not have the benefits of a full-time brokerage. It places more of the burden on the seller and can take a longer period of time.
When your home is for sale by owner, you take on the full responsibilities for the sale of your home. You are in control of everything including marketing the home, setting the sales price, working with prospective buyers and fielding offers. You will also have to work your way through the sometimes complex closing process. The good news is you pay no commissions. It could, however, cost you in time, aggravation and ultimately result in a lower sales price.
Sell It to a “Cash For Your Home” Service
Legitimate cash for houses services can bring about a quick cash sale, but there are significant downsides, the largest of which is a low sales price. These services will make low-ball offer on your property, in the hope of turning them over or flipping them quickly to make profits themselves. Some will use them as rental properties. If you need a quick sale due to a divorce, tax or other legal issues, a cash sale may be an option. They also buy homes in any condition. Otherwise, you will usually be able to sell your home for more choosing other paths.
Selling a home is a significant legal and financial transaction. You may want to consider professional assistance, at least seeking the advice of a real estate attorney. You can also benefit from the assistance of a professional when it comes to your homeowners’ insurance. Our independent insurance agents will seek out sufficient insurance coverage from multiple companies. You make the final choice. Contact us today.