If you’re wondering where to begin when selling your house, making the right decision can be challenging. Interested in selling your house through a real estate agent, going the ‘For Sale By Owner’ route, or using a service like ibuyer? Find out how you can sell your house in Colorado Springs!
Below are the four most popular ways to sell a house and the pros and cons of each.
A Traditional Real Estate Agent
One of the most common ways to sell your house is through a real estate agent. They market and show your home to potential buyers, negotiate the home’s sale, and deal with all the paperwork. When you work with a real estate agent, they typically get paid when your home sells, so you won’t have to pay any commissions or fees upfront. However, keep in mind that these fees will be tacked on to the sale price of your home. That means you’ll have to factor them in when pricing your home.
Pros:
- Benefits from the real estate agent’s marketing tools: Real estate agents often invest time and money into marketing their listings on multiple websites.
- Negotiation. – A real estate agent will have expertise in negotiating with buyers, which can increase the chances of selling your house quickly.
- Link you to industry associates. – Many real estate agents have access to a network of trustworthy service providers, including plumbers, electricians, and inspectors. Very important when get the most accurate estimates on the repairs your house may need.
Cons:
- Costly. Limited control in pricing. – A real estate agent will charge you a percentage of the sale price, generally around 6% of the sale price.
- – Real estate agents are incentivized to sell your house quickly, which means you may have to lower the price of your home for it to move.
Discount Or Flat-Fee Agents
Real estate agents typically get a percentage of the sale price whenever a home sells, but that’s not always the case. Some real estate agents charge a flat fee instead of a cut of the sale price when they sell your house. Flat-Fee agents usually help with the listing and promotion of your home.
Pros:
- Cheaper than a traditional real estate agent.
- Access to their marketing tools
- Assistance with negotiations
Cons:
- Offer limited services
- Requires staging and repairs
- It needs more of the owner’s involvement
- Only ideal for owners that are familiar with the process.
An FSBO (For Sale By Owner)
Selling a house on your own merits is also an option worth considering when you’re getting ready to sell a house. Perhaps the most affordable way to sell a house is to do it yourself or Sell it through marketing websites like Zillow. This option is also commonly referred to as For Sale By Owner or FSBO.
Pros:
- No commission fees required
- No contract fees
- You are more flexible with your times of operation
- Complete control of the selling process
Cons:
- You don’t have access to the same marketing tools as a real estate agent.
- You need to know how to market your house, which can be tricky if you don’t know where to begin.
- It takes longer to sell the house
- The selling price may be low
Selling your own house is ideal for owners familiar with the process and have good knowledge of the housing market.
iBuyer
An iBuyer is a private investment firm that purchases homes directly from its owners, usually for cash. iBuyers are becoming increasingly popular, with some estimating that people will purchase thousands of homes via cash offer in the coming years. You’ll enter some information about your home and get an instant offer from an iBuyer company. If you choose to accept it, along with a pickup date and price, you can collect your money and close on the home.
Pros
- No staging or repairs required
- No commission fees or appointment fees
- It’s a fast way to sell a house
- Cons:
- Not available in all areas
- Low offers compared to traditional real estate agents
If you want to sell your house, do it in the most convenient way possible. There are many different ways to sell your home; For example, an FSBO approach might work well if you have experience listing and marketing homes on real estate websites like Zillow. An FSBO approach might work well. If you have a busy schedule, Consider an agent to take care of the marketing and negotiations until your house is bought.
