Making the decision to sell your home can be challenging, but how you sell it can be even more complicated. Many homeowners often contact their local real estate agency, while some consider alternative options like selling to professional property purchasers and even selling by themselves.
However, if you’re unsure which choice is right for you, here are a few reasons you might sell through a realtor and when this option might also not be suitable for you.
Why Hire a Realtor to Sell Your Home?
Selling property through a realtor is an option many people consider, especially since it’s one of the most popular selling methods. You might decide to go down this route in some of the following situations.
You’re Not in a Hurry to Sell
Unless you have a firm deadline for when you need to be out of your property, selling through a realtor might be an ideal option rather than to a professional buyer or by yourself. From the time you meet with the realtor to when the ‘sold’ sign goes up on your front lawn, you might be waiting several weeks or months.
You Don’t Mind Parting With Commission
Realtors make their money by showing and advertising properties to the general public. Once they find a buyer for them, they take a cut of the purchase price for their effort. While the commission rate can vary for each realtor and state, the average is around 6%.
As a result, if you sold your property for $300,000 through a realtor, you might pay them approximately $18,000.
You Don’t Mind Negotiating
Some prospective purchasers can be in love with most parts of your property, but not all. If they notice an issue, they might make resolving it a condition of the sale. Negotiating can draw out a sales process and see you making compromises you didn’t anticipate.
When Not to Hire a Realtor
While hiring a realtor can be an ideal sales option in many situations, there are many occasions when it’s not.
You Need to Sell Quickly
Realtors can take several weeks to find a buyer for your home, and you might not have that much time to spare. If you need to sell quickly, you might see the value in meeting with a property investor. They can offer cash in a matter of days, allowing you to choose a timeline for moving out.
The House Has Problems
Selling a home with problems on the open market can be challenging. You might not be in a position to make repairs, but you may struggle to sell without those repairs. By considering alternate options like professional buyers, you might be able to shift a problematic property much easier than you think.
You Want to Keep As Much Money As Possible
Parting with up to 6% of your property’s sale price can be too much for some owners to bear. When you want to keep as much money as possible during the sales process, selling in other ways, such as directly to a property purchaser, might be worth your consideration. While choosing a sales method is not an easy decision to make, it might be made much easier when your circumstances better align with one over another. Review this information above and see whether selling through a realtor, on your own, or to a professional buyer such as Massachussets Home Buyers is suitable for your situation.