Twenty or thirty years ago, that would have been the best route to go. Nowadays, with everyone wanting to get maximum value at minimal costs, you have a few more options. In this post, we will look at what your options are.
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A Private Sale
With the internet, private sales have become easier than ever before to pull off. All you need to do is to find a site you can list your house on, post great pictures or videos and then list the property. Obviously, if you want faster results, you’ll need to market the listing a bit.
This is easily accomplished via social media at a very low cost. It is still advisable to get the contract drawn up by an attorney, and you will need a conveyancer to transfer the property, but it is an option worth considering.
Pros
- You save on fees
- There is no need to worry about endless open houses
- You get to set the price you want
Cons
- You need to know what your property is worth
- It can take a while to find the right buyer
- You don’t have the resources to do the background checks, etc.
- You’ll need to tidy up the place and stage it well
Selling To an Investment Firm
To find a suitable investment firm, you could type in a phrase like, “We buy houses Boston.” in Google. These firms specialize in property investments and so will usually take the property as it is. If there’s fixing up to be done, they’ll usually handle this after the sale.
It’s a good option if you need to sell fast – all you need to do is to find a company that offers this service. They’ll make an offer, and the sale progresses pretty quickly from there.
Pros
- Great if you need the money in a hurry, or are falling behind on your mortgage payments
- The firm will have contacts that can handle each aspect – from the sales agreement to the final transfer
- There’s no waiting around for the right buyer
- There’s no need to have a bunch of different people traipsing through your home
- You don’t have to worry about sprucing the place up first
Cons
- You’ll get paid a fair price, but not what you would be likely to get on the open market
- The worse the condition of the property, the less you’ll get
- You have to have an idea of the value of your property first
Selling With a Realtor
This is the more traditional option. The big advantage for sellers is that the realtor will advise them on how to make the most money out of the sale. Buyers do check for properties with realtors, and the company will advertise the property on your behalf.
The downside is that they’ll take a substantial cut if the house sells.
Pros
- Realtors have resources you don’t have access to
- They have a lot of experience in the area
- They will provide some good advice
- It normally won’t cost you anything until the sale goes through
Cons
- The fees can be steep
- There’s no telling how quickly the property will sell
- You may be asked to make some improvements
- You’re likely to have a lot of people coming to look at the property
Conclusion
There are alternatives to using a realtor when selling your property. We’ve given you an idea of what these are, and the pros and cons you should consider. All you need to decide now is which method will suit you best.
