So you’re ready to start selling your house? Considering your options and finally concluding on this monumental decision, you may be feeling the buzz and excitement that’s associated with the idea of making thousands of dollars within just a few short weeks. However, this feeling usually doesn’t last very long.
For many people, the excitement ends as soon as they find out just how much work (as well as money) is required to actually sell a house. From catering for repairs, advertising the property, home remodeling or renovations contacting buyers and filling out the mountain of legal paperwork to sell a house. Thinking about all of these things makes even the best of us go crazy. And it’s all made worse by the fact that when a task has so many moving parts, it’s difficult to determine where to start. And everything step is crucial when it comes to selling your house and there is no room for mistakes.
In this blog, we’ll talk about how to start selling your house and show you what tasks you should tackle first once you’ve decide that it’s time to part with your property.
So let’s dive in….
Step 1: Choose Options for Selling your House
Depending on the sale option that you choose, your starting point will vary accordingly. As such, the very first thing that you’ll want to do once you have to choose to put your house up for sale is to select a method by which you’re going to sell said property. You might have a property manager for marketing and selling the house but many times it’s not enough to get good deals.
There are many home sale options that you can choose from (each one having its own specific pros and cons). However, the two main ones that home owners usually turn to these days are hiring a real estate agent and selling traditionally on the open market, or selling directly to a cash home buyer.
But between these two, how can you determine which one is right for you? To sum up these two home sale options in as few words as possible:
- Real Estate Agents are commonly chosen by people who are looking to sell their houses at maximum price (above market value). Because of this, hiring one and selling traditionally is often the more difficult option. With an agent, home sellers will have to fit the bill for a laundry list of expenses (such as listing costs, advertising costs, repair costs, staging costs, closing costs and so much more) which is quite expensive. In addition, they’ll be required to cater for quite a hefty chunk of the paperwork (e.g. mandatory disclosures and a few other legally required documents). And finally, it typically takes 3-6 months for a home to sell traditionally, so sellers will have to wait for this long period.
But on the other hand,
- Cash Buyers don’t require any additional fees or expenses and most of them accept houses in “as-is” condition (so No Repairs and Upgrades!). They cover closing costs and are usually know how to close extremely quickly (typically in as little as 7 days). Be that as it may, all of these added perks and conveniences do come at a price. Typically, a cash buyer will offer you a little less than a retail buyer would.
So, the decision between the two comes down to convenience vs price. If you’re willing to do the work (and pay the price) required to attract a traditional buyer who’ll meet the full market value, working with a real estate agent is the best option for you. However, if you’re strapped for time and money, and would prefer an easier home sale that’s a whole lot simpler but that might not get you full price, you should opt for a cash buyer. These factors will be sure to help you determine which sale option is right for you.
Step 2: Find a Good Real Estate Agent/Reputable Cash Buyer
Once you’ve made your decision between the two main home selling options listed above, it will now be time to either contact a good real estate agent within your area and formally begin the traditional home sale process by signing a listing agreement, or to find a legitimate and reputable professional cash home buyer within your local area, and sell your house directly to them.
Below, we are going to provide you with a brief guide that will show you how to find the right real estate agent for the job, or a cash home buyer who will pay top dollar.
Real Estate Agent
When it comes to choosing a real estate agent, you cannot just hire the person on the very first flyer that you see. Unless you’d like to have a tremendously long and painfully tedious home sale experience, jumping around from agent to agent is not an option.
Because of this, it’s important to make sure that you select a good real estate agent from the get go.
If you have no idea where to even start looking for a good agent, here are two tips that will be sure to help you find the right person for the job.
- Do your Research: The very first thing that you can do to find good prospective candidates is to simply google search real estate agents within your local area and preview through their online presence. Sure, typing “Real estate agent in [local area]” and looking through the first few hits may not feel like the most inspired way to find reputable real estate professionals. However, it’s very effective and might lend you to a helpful site with tons of resources. At the very least, this will give you a few quick options that you can then consider further.
- Get Referrals from Friends and Family: If you have a friend or family member whose recently sold his or her house, both in a timely fashion and for a good price, it might be a good idea to consider hiring the agent that they worked with. As such, asking the people around you for referrals will get you honest recommendations, which will help direct you to the right person.
Cash Home Buyers
On the other hand, if you opt to work with a professional home buyer and get a cash offer for your property, you’ll want to find a home buying company or real estate investor that will pay top dollar. For most people, the answer to this would be to simply pull out their phones, visit their favourite search engines then search “sell my house in [local area]” or “Cash Buyers in [local area]”. For example, if you’re living in Minneapolis, you should search – “home buyers in Minneapolis” to find the best home buyers in Minneapolis. And while this may be effective, the highest ranked cash buyers that will typically come up on a google search are companies that are well established and that receive hundreds of leads a week.
Be that as it may, this does not mean that all cash buyers pay peanuts. If you’d like to find an investor or local home buyer who’ll pay top dollar, here are a few things that you can try:
- Put your property up on Craigslist and wait for cash buyers to contact you.
- Visit some local auctions within your area and approach some of the cash home buyers that you come across.
- Search for less notable cash buyers’ ads and contact those companies.
The tips above will be sure to help you find an investor who’s willing to go above and beyond for your property, rather than one who’ll offer you the bare minimum.
So there you have it? You should now have a much better understanding of where exactly you should start when selling your house. And with that, Happy Selling!