Best Ways to Sell Your Home!

Homeowners have numerous options when it comes to selling their properties. Deciding which approach is right for you depends on your location, the condition of your house, your time availability, and how quickly you need to sell. Also important to consider is how much money is owed on the house. That will factor into your asking price, and the amount you ultimately need to receive to pay off the mortgage and, hopefully, make a profit. If you’re looking to sell a house quickly, as-is, NameSake Real Estate can provide you with hassle-free options that meet your unique needs.

Traditional Real Estate

In a traditional real estate transaction, a homeowner retains the services of a licensed real estate agent who performs several functions. They do research to determine “comps” — or comparable prices of similar homes in your area — to set an asking price. They will also make recommendations about fixes and upgrades that will best showcase your home. An agent will list your home on the MLS — multiple listing service — advertise the property, take calls from prospective buyers and their agents, and show the property. They also take offers, make counteroffers, and handle all of the paperwork to close the deal and complete the sale. For this, they typically charge a six percent commission on the sales price, which they often split with a buyer’s agent.

Tailor Payment Options to Fit a Seller's Specific Financial Needs.

Real estate investors buy properties with the intention of upgrading them and then reselling them for a profit or using them as rentals. This can be a good approach when you need to move quickly or if the house has a lot of issues that need to be fixed before it can go on the market. Investment companies will buy the property as-is, so you don’t have to pay for repairs — which Bob Villa says is a definite necessity if selling the traditional route — or worry about making the house look presentable at all times for prospective buyers. Real estate investors work with other investors to connect them with rentable properties and can often tailor payment options to fit their specific financial needs.

Sell at Auction

Property auctions used to be held primarily to liquidate foreclosures and distressed properties, but today it’s a way to quickly sell a property, and often its contents, to the highest bidders. This process can work especially well in hot real estate markets where home inventory is low and there’s a great deal of demand resulting in multiple offers. Auction companies often charge the winning bidder a “buyer’s premium” in place of charging the seller a commission, and many auction companies welcome and pay real estate agents who bring in clients to bid. Auctions sell both real estate and personal property in “as is” condition, so there’s no need for repairs.

Sell It Yourself

FSBO stands for “for sale by owner.” Many people opt for this approach as a way to save money in the form of real estate commissions, but it means a significant amount of extra work for the seller. In addition to prepping the house and doing research to set a price, you’ll also need to advertise, pay for wider listings, coordinate with the buyer's agent and their clients, and manage all paperwork. According to Land Title Guarantee Company, a title company can aid in the effort, but in terms of sales representation, you’ll be largely on your own. If you have experience selling real estate, this can be a good approach. But if you’re a novice, use caution so you don’t overlook critical steps in the process.

Selling a house is a big undertaking, but it can be made easier, depending on the sales approach you decide to take. Give careful consideration to your needs before making a choice. NameSake Real Estate, LLC can be an invaluable partner when it comes to buying or selling a property. Visit the website for more information or reach out for a consultation.

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