Trying to Sell Your House? Read this.
Selling a house in the modern world can prove to be a daunting task. If you are planning to sell your house, you need to prepare yourself for a journey that will require a significant amount of patience on your side. There are many options that you can consider before deciding on how to sell your home. The options include:
- Brokerage Company
- FSBO (For Sale by Owner)
- Listing your home with online marketplaces such as Zillow, Trulia, and Realtor.com
In this article, we will discuss the advantages and disadvantages of each option.
Option 1 Listing with a Brokerage Company
- The obvious advantage of choosing a brokerage company is the amount of experience and knowledge that the real estate brokerage can offer. These companies are aware of the current market trends and can help you make effective decisions.
- Another advantage is the access to potential buyers. These companies have access to databases that have information of potential buyers.
- Also, choosing a brokerage company means you will not have to go through the nerve wrecking process of negotiations and to give tours to potential buyers.
- In some cases, hiring a brokerage company might prove to be detrimental. This happens when the seller and the company do not have the same view about things.
- Since the brokerage companies have many clients at one particular time, it might take a while for them to sell your house.
- The last disadvantage of choosing a brokerage company is the amount of commission that you have to pay. This comes out from the sale price that is set after the negotiations and can thus result in no profit of your own.
Option 2 FSBO (For Sale by Owner)
- The first advantage of selling the home on your own is the low commission that you have to pay in other cases.
- The second advantage is the overall control that you have over the whole process. You can choose to pick buyers of your choice and can negotiate with them on your terms. Also, the tours can be arranged according to your schedule.
- Nobody knows the house as well as the seller. Hence a seller is in the perfect position to market the housekeeping in focus the unique selling points of the house.
- Because of lack of experience, you might end up selling the house at a price that is significantly lower than what you could have got with the help of a broker.
- The paperwork involved in the sale of a house can prove to become extremely difficult. Filling out forms, disclosures and other documents on your own can sometimes leave a few loopholes that could become problematic in the future.
- Lack of access to buyers is another problem faced by those looking to sell their homes on their own.
Option 3 Online Market Places
- A benefit of listing with online marketplaces such as Zillow, Trulia and the like is the access to millions of potential buyers. These websites make it easy for you to reach such a large number of people.
- Also, the process becomes fairly easy and less stressful. This is because such marketplaces give you a platform where you can select and shortlist buyers from the comfort of your home.
- It is also financially viable to go for such an option since the commission that you would have paid otherwise is no longer present.
- You might have to hire a real estate agent anyway. This is because Zillow will only give you a platform where you can connect with buyers.
- Since your home is advertised to millions of people, you could find yourself becoming a target of a scammer.
- Zestimate that estimates the value of your home is not always accurate. This could end up misleading you as well as the buyers.
No matter what option you choose, selling a home can be a difficult task. Before deciding which option to opt for, it is better to do a pros and cons annually.