So you’re thinking about selling your home.
Most people think, “hey, let me go find an agent and get this thing listed”.
But that’s not the only way to handle real estate, and sometimes it’s certainly not the most efficient.
Sometimes, you might even have a home that simply won’t sell, and need some advanced tips or out of the box thinking to get it in front of potential buyers.
So, let’s take a look at what are some of the best ways to get your home sold, some of which are focused on top-dollar while others are more focused on timeliness.
The classic method of listing with a real estate agent
Listing with a real estate agent isn’t a bad thing to do, but there are times when it’s more beneficial to do it.
When you list with an agent, you’re essentially outsourcing the showcasing of the house to someone else so you don’t have to deal with the marketing and touring with potential buyers.
But there are pre-requisites for listing with an agent effectively.
When listing with an agent you’re generally committing to making the house look as good as you can with curb appeal as well as maintenance.
The more repairs and updates you make to a home, the better chances of getting it sold at the value that you’re expecting.
If you’re unable to make repairs or update things like a coat of paint, a few appliances, or some cabinetry or ceiling fans, then you’re risking not only taking longer to sell the home but also getting less money for the house.
That’s because buyers are generally going to see the flaws in the home and use that as leverage during the price negotiations.
Your listing agent isn’t going to like that because they get more on commission when the sale price is higher.
But if your agent only cares about that and doesn’t actually assist with getting the home up to par, then you don’t have a top quality agent working with you.
The best real estate agents focus on improving the home as much as possible and using excellent marketing techniques.
This may include some drone aerial footage, staging with awesome professional photography, virtual video tours, and even some online marketing ads.
If the agent doesn’t do anything of the sort, then they aren’t well-versed in selling and these are just basic techniques when it comes to making something appealing to the audience.
Going the ‘ole For Sale By Owner route
If you’re looking at selling the house on your own, consider this:
There are pros and cons to doing it on your own.
The obvious con is that you’re not going to get listed on the MLS, which is where other real estate agents representing a buyer are going to find the property.
Does that mean you’re screwed out of reaching the majority of the population?
Not at all.
Now, before we get into what the means, the other con to consider is the fact that you’re going to be spending a lot of your own time making the house look pretty and showing buyers around.
When it comes to hiring a real estate agent, it’s mostly a time for money sort of thing in addition to their marketing skills and access to the MLS.
So, what are the pros to listing on your own?
Well, you can skip out on paying 3% commission on the sale price of the property.
For a home that’s being sold at $200,000, that means you’re keeping $6,000 in your pocket.
The worst part about commissions is that a small portion of it only goes to the agent.
Their broker receives the lion’s share, so you really don’t have to feel bad about it.
Now, when you list on your own, you have to find a way to reach buyers.
Some ways of doing that may include putting up signs, reaching out to your network, and putting up some ads on online classified sites like Craigslist.
But one other thing that most individuals don’t know about is using online marketing ads.
One of the most powerful tools at your disposal is actually using something like Facebook ads to get your website in front of people.
If you create an ad for Facebook, you can target other homeowners in your city and simple run an ad for a few days that says something as simple as “Interested in a home in [insert area here]? I’m selling my home! Click here to check it out!”
This ad can then just be a lead form that gives you their contact information or you can stand up a website for free at any of the free site creators, such as squarespace.com, weebly.com, or wordpress.com, and simply have a landing page that talks about your home.
Take pictures of the interior and exterior, show what is in the neighborhood, where it’s near, what types of markets or activities are nearby, and all other benefits that you can possibly think of.
You might spend about $50-$100 bucks on an ad that runs for 5 days, and you’re going to still save $5,900 by marketing it yourself.
There’s a slight learning curve, but the cost is super low.
Make sure that you take an awesome photo of your house.
The best is to do an aerial drone photo if you have any friends that can do it or if you can hire someone for a small fee to get it done for you.
The quickest way to get your house sold
If time is the most important factor, then this is for you:
Selling your house generally takes time.
You’r dealing with preparations, showings, and negotiations with potential buyers.
This can often takes weeks or months to go through.
So, what’s the absolute fastest way to get your house sold?
An investor that’s willing to pay cash.
Usually, this is the best option for people going through foreclosure.
That’s because when people are threatened by foreclosure, they’re on a really tight timeline before their home simply goes through an auction.
An investor can purchase the house in cash before that happens and they gets the homeowners out of forbearance, totally saving their credit reports and taking the burden of that house off of their shoulders.
You don’t need to be going through foreclosure to work with an investor.
The downside to using them is that you’re going to get less than market value.
30% less, to be exact.
For investors, the numbers have to make sense in order for them to make any profit.
That means when they buy a property, the cost of the property plus its necessary repairs must come out to 70% or less of the after-repair-value (the value that it can be sold on the market for).
Does that mean you’d be losing a lot of cash on the deal?
Yes, and no.
Investors take care of all the repairs, fees, and closing costs.
In a normal deal, you might sell your house for $100,000.
You put $5,000 towards repairs.
Closing costs are about $5,000, bringing you down to $90,000.
And your commissions at 3% are about $3,000, so now you’re at $87,000.
All the while it took you 1 month to find a contractor to make the repairs and 2 months to get the home sold on the market.
An investor will come in at around $70,000.
So, while you are selling at a lesser price, you’re not actually losing $30,000.
You’re saving 3 months of your time.
For people where time is the biggest factor, either because of financial reasons, relocation, or other issues that arise, this is the best option.
Go out there and get that property sold!
These are some of the lesser-known tips related to selling your house.
Take this knowledge and get out there and sell that property, whether you’re selling your own house or other peoples’ homes.
Feel free to leave a comment if you’ve anything to add, and always, check back on our homepage to find some more information related to the housing market!