There is more than one way to sell your house! So many people get wrapped up in the idea of listing, that they don’t explore all of the ways a home can be sold. Many people miss out on saving time and/or money by using the only solution they know-how. There are many different ways to sell a house.
In this article, we will break down the pros and cons of each do you can make a smart and well-informed decision about how you wish to sell!
Direct Sale Of A House
Pros of Direct Sale a House:
A direct sale offers many benefits people will often look over.
It can save you a ton of time. Many people who make direct offers are paying in cash, so there is no waiting on the banks to secure the loan. This means you can sell your home in as little as a week! A quick sale will immediately end your financial obligations to the home such as insurance, utilities, and taxes.
In addition, if you are not working with an agent, you will be able to save a ton of money on commissions, agent fees, and listing costs. Direct offers often will not require any cleaning, repairs, or upgrades to be done to the home. A direct sale will let you get a great price for your home, without having to wait. You can start planning your future now because right away you will know how much you are getting for your home and when.
Cons of Direct Sale a House:
Final Price Lower Than Retail
The final sale price on a direct sale is often lower than retail.
For Sale By Owner (FSBO)
Pros of Selling Yourself:
In Control of Everything
You are in control of everything. You will have all the power and be able to decide your best course of action. Once you sell, you won’t have to deal with paying an agent’s high commission.
Cons of Selling Your House By Yourself:
A lot of Work That Needs to be Done
You are in control of everything. You have to do all the work! You are in charge of advertising, dealing with potential buyers and their agents, reviewing contracts, handling negotiations, and dealing with title companies.
It can be a huge headache if you aren’t familiar with the process. And because it is your house, you might not be all business, and will instead operate with emotion. You cannot become offended by low offers, or overprice the house when you know it isn’t worth what you are asking.
Hiring a Real Estate Agent
Pros of Working With an Agent:
Agent Will Deal With The Sale
A good agent will take care of the sale on your behalf. A GREAT agent will go above and beyond, helping you transition into a new home.
Agents Have Connections and Resources
An agent should have connections and be able to offer resources to get you settled. Take advantage of the services at their disposals such as photographers and professional stagers. This Is I why you are paying them such a high commission!
Cons of Working With An Agent:
If you sell with an agent, you will be responsible to pay 100% of the commission owed to them. This is typically about 6% of your final sale price. In addition, you will be paying about 2% of the final sale price, toward closing costs.
Paying Upfront for Listing
You will also have to pay upfront to get the house ready for listing. This includes a professional cleaning, making repairs, and cleaning done on a constant basis. There are also no guarantees on when it will sell. You will not know how much you are getting or when you are closing until the very end!
There are many ways to sell your house. Before you do anything else, make sure you fully research the options available to you. Don’t settle for one option until you learn what other selling methods will mean for you!