A short while ago, selling your house requires nothing more than hiring the best real estate agent. As with everything subjected to change, technology has become the order of the day. Although the impact of technology is limited on the real estate market, it has provided homeowners with a range of options to sell their houses. So, if you are wondering how to sell your house, be rest assured there is more than one way to get this done.
While you can stick with the tested and proven method of using an agent, you can also try out some brand-new methods like iBuyers, trade-in programs, or real estate investors which promise to save you money, time, or hassle—or all three combined. All the different ways of selling your house have their pros and cons, and so the decision must be carefully made.
In fact, the method to choose depends on how much you know about the real estate market in your area, how much you’re hoping to get for your property, and many more factors. Here are some easy ways to sell a house:
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1. Traditional Real Estate Agent
It’s best to sell your home via the traditional method if you want help and guidance during the process, especially if you aren’t knowledgeable about the real estate market. The most common reason why people hire real estate agents and do not consider cash for houses deals is that they want their property to sell for top dollar.
Typically, the agent lists the property, markets it, sometimes is placed in charge of showings with other agents and potential buyers. Agents also help you assess every offer received negotiate terms with prospective buyers, and ensure the deal doesn’t fall through.
Since their services come at a cost, traditional real estate agents operate on a commission-based fee model. Usually, the seller’s agent receives the compensation at an agreed percentage of the final sales price, often 6%. The buyer’s agent is paid from this commission also, hence, on a $400,000 home, which amounts to about$24,000 fee.
2. A Flat-Fee or Discount Agent
Another similar but distinctively different group of agents: discount agents can also help you you’re your property. If you are wondering how can I sell my property quickly, you should consider flat-free agents amongst your options. Unlike traditional agents, some agencies like Redfin, provide agents that help in the sale process and are paid on a flat fee or discounted fee model.
Like typical agents, they help you list your property, but may not offer the same amount of help with other processes as much as a full-service agent does. As expected, the service providers are the determinant of the costs but it is usually cheaper than traditional agents. The only disadvantage that comes with selling via discount agents is the limitation in the number of services they can offer. Usually, you’ll be required to handle some of the processes since they offer limited help.
If you are not considering cash for homes deals, hire a flat-fee agent if you want some help, but are willing to do some of the work on your own. Also, if you want to save on commission fees since they are a cheaper and efficient option.
3. An iBuyer
How do cash for houses work? The workings of cash offers are not limited to but include iBuyers. Homesellers are new to this means of dealing in real estate as it is a fairly new option. iBuyers are online companies that purchase homes directly from their owners, usually via a cash offer. Often, they have a website where you can provide them with all the information about your property and you’ll get an offer. The offer can either be instantly or within a few days. Closing can be as fast as possible if you choose to accept the offer and select a convenient closing date.
Some of the popular iBuyer companies include Opendoor, Redfin Now, and Zillow Instant Offers. IBuyers come in really handy if you want to sell a property online without meeting an agent in person. This also means you don’t have to host showings or pay commission fees. The balance to this is that you must be able to provide tons of details about your home.
iBuyers are best considered if you are looking for how to sell your house fast and are fairly technologically savvy.
4. Sell the home yourself
I cannot picture being a real estate enthusiast or even a real estate agent and I’m being bothered about how to sell my house fast for cash. Do you know there is an option that allows you to sell your home yourself? This option is known as an FSBO (“for sale by owner”). Unfortunately, if you are looking for how to sell my home for cash, selling FSBO is not an option. This is because it shares a resemblance with traditional sales only that no agent is helping you out, it’s just you.
Therefore, you will have to list your property, market it, coordinate showings, handle negotiations, and all the paperwork. Selling FSBO works best if you are very familiar with the home selling process and are not under pressure from banks or mortgage lenders.
5. Trade it in
Have you heard of trading your old house for a new one? Some companies let you “trade-in” your property in exchange for your next one. They are different from house flippers as they don’t try to make a profit on dilapidated properties. You should consider trading in is if you already own a home and want to sell it to buy another. There are times homeowners want nothing to do with the process of listing, showing, or even the desired closing. In such cases, you can consider trading it in. If you live in one of the select markets where these programs are offered, it’s an easy option to sell/buy properties.
Do not be overwhelmed by the number of options you have available to you. The decision doesn’t have to be a swift one. However, if you are under pressure and cannot find a headway, consider selling to we buy houses companies. If you are also looking for how to sell your house for cash, these cash buyers can help out too. Remember, you don’t have to think hard or know way too much before you can sell your property.