Renting vs Buying your home to live in.This is a major question you should be asking yourself, along with your spouse, your parents, and friends before making a decision to buy or rent the home you
Access to the Multiple Listing System (known as MLS)
A skilled agent will help you to come up with an accurate price that will get your home sold as quickly as possible.
Can sell your house at the going market price
A good agent will walk you through and support you at each stage of the sales process.
An expert agent will negotiate strongly to get you the best price.
Agents have a fiduciary duty to you. By law, they must act in the best interest of their clients by loyalty, confidential, and honesty
MLS is considered retail and you get the most money out of your house.
You don’t have to do anything besides making your house presentable and allow showings.
All buyers that come through your home will be pre-qualified by a lender to buy your home.
Agents have commissions
Depending on your market, it can take a little longer to sell than an instant offer
Your house will generally need to be in sellable condition to garner the maximum price or close to it. This means that it must be fairly up-to-date and in livable condition.
There can be many showings and people coming in and out of your house.
Sell It Yourself (For Sale By Owner):
You can take a hands-on role and negotiate on your own behalf.
If you’re detail-oriented enough and have the time to handle the intricacies of real estate, you will save thousands of dollars.
There are websites where you can post your property for maximum exposure such as Zillow, MLSmyHome, Craigslist, and Fizber.
Statistically, for-sale-by-owner homes sell for less than those sold with the help of an agent and you still will pay commissions.
You must be detail-oriented to handle the intricacies of real estate transactions.
You will, ideally, remain in control throughout the entire process making it a full-time job.
You will need to come up with an accurate price that would be attractive to buyers. Zillow is known to be highly inaccurate in many areas.
You’ll need to spend money to make repairs or stage the house to give it the best chance at receiving an offer.
You will need to continue to pay for the house’s upkeep. That includes paying for utilities, maintenance, and home insurance. If the property is vacant, you will need to find a way to secure it seasonal weather threats as well as against vandals, thieves, squatters, and other intruders.
Routine elements of the sales process can upset you as the seller because of any emotional investment in the property.
Here’s that catch-22 again: If you’re lucky, you’ll have lots of people coming in-and-out of your house for showings. The downside: you’ll have tons of people walking in-and-out of your house at all hours that are not qualified buyers, which can get really old really fast
You will get a lot of calls from unqualified buyers that can’t even afford the home.
Selling to An Investor or wholesaler or IBUYER (opendoor etc)
They buy houses as-is in any condition.
You will receive an all-cash offer within 24 hours or so.
They can complete the entire transaction from offer to closing in 30 days or less.
They will not ask you to spend any money on making repairs or even cleaning out the house.
You won’t have to worry about tons of people walking in-and-out of your house.
Unfortunately, there are a lot of scammers in the marketplace who misrepresent themselves and what they’re able to do.
You will be selling the property at a discount to the market price, many times leaving tens of thousands of dollars on the table
There’s no barrier to entry, so anyone can decide to hang a shingle and call themselves an investor.
They are unlicensed individuals who can make any claim they want.
You may get a few comps to your house most likely on the lower end of the scale, making you believe your house is not as valuable as it is.
Although investors take as is, IBUYERS still deduct expenses in an inspection period.
Wholesalers and investors can put an offer in with the intention to wholesale or assign to an investor. They hold the property up to see if they can wholesale it to a flipper or investor and make a wholesale fee. The problem is, is sometimes the fee can be $10,15, 20 +thousand dollars when a real estate agent wouldn’t even charge you that money.
You will pay for convenience basically going with this type of sale.