How do I sell my home fast? At ListingSpark, we hear this question all the time. It’s a great question, but can come with a complicated answer. A better question might be, if I want to sell my home fast, what is the trade-off? Or better yet, how do I sell my house fast for market value or more?
This article will discuss different strategies a home seller may explore in order to achieve a faster home sale. So if anyone ever asks you, how do I sell my home fast? Just forward them this article!
Option 1: iBuyers
iBuyers like Opendoor, Offerpad, Zillow Offers, and Redfin Now are all options available if a seller wants to move fast. What are iBuyers? iBuyers are large, national real estate investment firms backed by lots of money from the likes of venture capitalists, private equity or hedge funds. They basically do the same thing a real estate investor does when they flip a house. They try to buy below market, make improvements and then re-sell for a profit. Below is a pros and cons list of going the iBuyer route
- iBuyers move much quicker than a traditional home buyer.
- You don’t need to prep and stage your home for hitting the market and multiple showings.
- You don’t need to complete any repairs.
- When working with an iBuyer, you may be able to get a more flexible move out date.
- iBuyers are largely technology based, so you can inquire to receive an offer directly from your phone or computer.
- You won’t sell your home for “top dollar” due to the fact they have to turn a profit and can only make you an offer that will yield the proper returns.
- There are a lot of fees involved. iBuyers charge a service fee that typically ranges from 5-12% depending on the situation. So you could end up paying more in fees than you would pay in commissions selling through the MLS.
- They may try to renegotiate once you are under contract. Many of the offer terms are based off of photos and algorithms. Once you are under contract, someone will come to the house to inspect and do a more in depth analysis. This can often lead to another round of negotiations.
- They may not buy it at all. This is an investment, if the home doesn’t meet their buying parameters, you may not be a candidate for their service at all.
Option 2: Flat Fee Companies
Flat fee companies are real estate brokerages that offer limited representation listing services to sellers at a low flat rate (from $399-$2500). Using a flat fee company can allow you to hit the market quickly and expedite the home selling process.
- Significantly lower listing commission.
- More control over your own listing.
- You can move quickly to get on the market if you have your own photos and you are prepared for showings.
- You save on commissions but sacrifice on service. In many cases, flat fee companies listings are lower quality, due to bad photos, incomplete information.
- Transactions can get complex and you could get left out in the cold with no one to help you navigate potential problems.
- Once they take your up front fee they have little motivation to help you sell.
- Agents can get frustrated due to lack of communication with the company you chose. This can lead to lost offers or cancelled transactions.
Option 3: Traditional Real Estate Agent
A traditional real estate agent from Keller Williams or Re/Max is what most people are used to when selling a house. But things have changed, so a lot of people may not understand the what the true cost could be.
- Single point of contact
- Heightened level of oversight throughout the listing process
- There to help through negotiations
- You should sell for top dollar
- Expensive on the commission side, so in some cases, what you gain in a higher price, you lose in payment of the commission
- Reliant on a single point of contact rather than a team of people
- Less technology centric
- Experience level varies wildly with traditional agents, so you may be working with someone a lot less experienced than you might think.
Option 4: ListingSpark (Best Option)
Call me biased, but if you want speed, service, high quality listing, technology and best of all savings, then ListingSpark is the best option to sell your home fast.
- Fast. Our average listing is on the market and ready for showings within 1-3 days.
- Extremely affordable. At only $7 a day (roughly $200 a month) our average customer pays us $200-$400 all in, saving them thousands if not tens of thousands in commissions.
- High quality listing. With ListingSpark, you don’t sacrifice service for savings. All of our listings include high quality professional photos so your home stands out in your neighborhood.
- Support. We are open 7 days a week with a team of people here to help every step of the way.
- Experience. If you need help with negotiations or complex issues that pop up, we have you covered.
- Highest price. By listing you on the MLS and every other major real estate site, we maximize your exposure to drive up the price of your home.
- Technology driven. Our easy to use website allows you to create and manage your listing in one place.
- The only “con” is that an iBuyer will be able to move faster than any home that formally lists on the open market. But like I mentioned earlier, you likely trade speed for profits and most sellers would rather wait and maximize their return.
Hopefully this article helped you understand your different options for selling your home fast.
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