Today?s real estate market can be trying for even the most eager of individuals. Many people might want to avoid the additional commissions, fees, and whatnot that are involved with realtors, yet having that ominous ?for sale by owner? (FSBO) sign in their yards could lead to more problems than solutions. What makes a sale more difficult when owners attempt to do it themselves?
Tricky Sales
When you list a property ?for sale by owner,? there is a limited pool of potential buyers. In most cases, the property won?t be showing up on the multiple listing service (MLS). Also, many people think that FSBO sellers are not always the most motivated to sell their properties, and are just putting a sign up to see if they can garner a high asking price. Many times, unfortunately, you see FSBO homes sitting on the market for an unusually long time.
Also, those selling FSBO might not have the experience of an agent in negotiating the best deal. The closing paperwork, if you have never sold a property, can be very complex and confusing. An investor, for example, usually makes the sale as stress-free as possible by handling all the paperwork, closing quickly, buying ?as is,? and not charging realtor commissions.
Realtors versus Investors
There are many perks to listing with a realtor. It can be a good idea if the house is in good condition, you are patient, you don?t mind paying additional realtor commissions, and you are looking for a retail price. If the house needs work, however, you are looking to sell quickly, or you don?t want to pay a hefty realtor?s commission, contacting an investor might be a better option than choosing a realtor.
An investor is a great option to get your house sold if you need to sell quickly for whatever reason (including probate, inheritance, divorce, bankruptcy, or relocation, just to name a few). Usually, when investors buy houses, they can buy them in as few as seven days, in as-is condition, and without any realtor commissions. It?s up to you to decide which of these options best serves your ultimate purpose in terms of selling your house.
Selling to an Investor
Selling directly to an investor is a hassle-free way of selling a property. Instead of a property sitting on the market for as many as six months or more with a realtor, many investors can close within a week (as long as the title is clean), purchase the house as is, and again, without commissions involved.
For people who live out of state who may have inherited a property, it can be much easier to sell directly to an investor: It?s a hassle-free cash closing with an agreed-upon closing date. Furthermore, for individuals with overwhelming repairs needed to their properties, selling to an investor can be a great option since the condition of the property doesn?t matter. Again, you must figure out what fits your needs!
A Positive Experience with Realtors and Investors
With a realtor, more often than not, you are going to get a higher price for your property, as long as you are patient enough to let it sit on the market. That?s because a realtor will list the property on the MLS, where thousands of people can see it. Selling to an investor is usually the fastest and least stressful way of selling a property. When a homeowner lists his property FSBO, there are only a limited amount of people who will see the property. Since it is usually just a sign in the yard, the only people who will see it will be those driving by. Even then, it can be problematic to view the inside of the property, since the seller might not be readily available to show the property, like an agent or investor would be.
You have to decide which option best suits your purposes when trying to sell your home, be it through a realtor or an investor, or by yourself. Think very carefully, however, whether attempts to save money and be a part of the ?for sale by owner? group might lend to more difficulties than would be worth your time and effort. Ultimately, you?ll most likely thank yourself for choosing a realtor or investor.
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J. R. Leighton is the owner of Action Homebuyers, a premier Washington, D.C. real estate investment and solutions company that buys and sells distressed properties. Leighton works closely with Fortune Builders from A&E TV?s ?Flip This House.? He is a former college basketball player and was born and raised in the Washington, D.C. area.
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