How to Choose the Right Sale Method When Selling Your House

Have you recently decided to sell your house? This is often the easier decision to make. Due to various circumstances that may have recently sprung up in your life, such as the need to sell quickly before relocating, to break up a house and split the profits during a divorce, or because you’ve recently inherited a house that you would not like to keep, it may not have been very difficult to arrive at this decision. Or maybe you might have lived in your home for many years and are desperate for a change, which would make it even easier.

However, the tougher choice to make is the one that always comes after you’ve chosen to do something. And that’s the choice of “How” you intend to do that thing.

When it comes to home seliing, there are quite a few methods that you can turn to in order to get your property sold. Each one of these home sale options is unique with its own specific advantages and disadvantages that make it stand out.

As such, one is bound to work better under certain conditions than another would. In addition, each one has its own level of financial input and difficulty, which are also things that you’ll need to be aware of when making your decision.

In this blog, we are going to help you choose the right sale method for your specific situation. We’ll outline a few of the key home sale options that most people regularly turn to, then show you how you can sift through this list and find the perfect deal for your home. And once you’ve chosen a good sale option, you’ll be that much closer to selling your house.

So let’s get started…

Most Common Options while Selling your House

Most people automatically assume that hiring a real estate agent is the only way to get a property sold. But while this method is by far the most common sale option, it’s not the only one. In real estate circles, it’s largely known that if you’d like to sell your house, there are many ways to skin that proverbial cat.  Take services of sell my home fast for cash here!

Here is our list of some of the most common home sale options that people regularly work with throughout the country when selling their houses:

Real Estate Agent

First off, we are going to cover the most popular choice on this list, which is selling your house with a real estate agent. Put simply, this option includes tracking down and hiring a real estate agent who will then sell a property on your behalf. And that is why many people like it.

It eases down the process because real estate agents have strong network on social media and other digital platforms. Realtors use stellar marketing strategies along with technological advancements like real estate CRM to help you find best buyer.

Instead of doing all the work yourself (which will be very difficult if not next to impossible for newbie home sellers who have no prior real estate experience), you’ll be able to hire someone who has professional knowledge, and who’ll do most of the work for you.

Your agent will help you with all the legal documents and required paperwork, set up your marketing campaign, and then interact with and schmooze buyers on your behalf, amongst a host of other things.

However, selling with a real estate agent does come with quite a few significant downsides. Most realtors will charge you a hefty commission which is usually 6% of the sale proceeds, for the services rendered above.

In addition, you also have to cater for many other costs such as repair costs, advertisement costs, staging costs, the cost of a professional photographer, the price for home inspections and upgrades, and closing costs. But that’s not it; it usually takes about 3-6 months to sell with an agent. So if you choose this option, you’ll likely have to wait for months on end before your property eventually sells.

For those who have the time and money to take this one, working with an agent would be a great option.

For Sale by Owner (FSBO)

The next option that you can consider is to list your house “FSBO” (For Sale by Owner). This home sale method is quite similar to selling traditionally in that it includes all the same things. You’ll have to fix up your house, advertise, entertain buyers then draw up a contract before closing.

However, the main difference between this home sale method and selling with an agent comes in the fact that with this option, there is no agent. If you choose to sell your house FSBO, you’ll have opted to list your property and sell it by yourself.

Auction

On the flip side, you could choose to forgo looking for buyers and have the buyers come to you. With an auction, a homeowner simply pays the auctioneer’s fee and waits for their property to find a buyer. The house is then put on an auctioneer’s roster and sold for the highest possible bid.

This method of home sale predominantly appeals to owners because it allows one to sell their house fast, and with minimal input. However, you should think hard before pursuing it become it does come with a few disadvantages. These include the fact that:

• Your buyer base will be limited to the number of people that show up on auction day.
• The maximum bid generated for your property may not be as high as you’d originally hoped.
• Many other properties will get sold alongside yours during the same auction. As such, your property’s value may decrease by comparison.
• The auctioneer’s fee can be quite steep.

Professional Cash Buyer

And last but not least, selling your house to a professional cash buyer within your local area. If you’re looking for a sale option that incredibly easy and convenient, you should certainly consider this one. With a direct sale to a cash buyer, you’ll be able to forgo all of the time and monetary investment required by all of the sale options above.

Jay Schultz of Fast Path Home Buyers who helps people in selling home in Minneapolis states “Selling to a cash buyer will allow you to sell your house extremely quickly, all while requiring you to invest none of your valuable time and money.” 

Final Words:

So there you have it. Here is our list of the most common home sale options that you can turn to when selling your house, as well as a few key considerations that will be sure to help you decide between them.