Are you looking to sell your house but are overwhelmed with all the options available? In this video, we’re going to show you how to see all of your options at once with our fast cash offers. We’ll also explain the different ways you can sell your house so you can make the best decision for your situation.
Different Types Of Buyers
Just 15 to 20 years ago, real estate was really simple. If you wanted to sell your house, you had a few different options: you could list it as for sale by owner or you could hire a realtor. In today's world, however, there are many more choices. And even if you decided to use a realtor, sellers have to choose between several hundred different real estate companies with more popping up every day.
To make the process easier, we’re going to look at the different types of buyers for your house.
Investors
The first group we’ll consider is investors. You’ll see signs on the side of the road that say, “We buy houses in any condition.” Those are typically investors looking to buy your house wholesale, not live in it themselves. Rather, they want to buy it to make a profit off of it in one of two ways. They’ll either resell it immediately or clean it up first and sell it.
The only problem for sellers is that investors are looking for wholesale options that they can sell and move quickly. While they can give you all cash and give you some flexibility, they're also going to give you pennies on the dollar for what your home may be worth. You're generally going to be leaving an awful lot of money on the table.
For Sale By Owner
The second option we want to talk about is selling your home for sale by owner. This has always been a popular means of selling your house and, when I first got into the real estate business, it was popular for people to try to figure out how to do it. There were a few online portals that people would use that were not overly popular. People would also use the newspaper as well as Craigslist when the platform was introduced.
Today, other more popular websites have outlets for people to sell their homes themselves. There are, though, still pros and cons to this. On the one side, you have to figure out how you're going to determine the value of your house. Most people are trying to use some of these online portals which are very, very inaccurate. Sometimes you may end up selling your house for considerably less than you want to—or you may overprice it and it could sit on the market for quite some time.
Additionally, when you go to market your house, you're only going to see a certain percentage of the market. You have to figure out how you're going to mass-market that property to get top dollar and figure out the right price tag for it.
iBuyers
The next popular thing is iBuyers. These are internet-based buyers, which are a new twist on an old trick. The old trick is wholesaling—seeing those signs on the road, the billboards, and the “We Buy Houses” in any condition advertising. The new trick is getting large corporations involved, creating bigger business models with more investors.
Investors want to find your house and a wholesale price tag, not market value. While they say market value, that's the same thing as saying I'm going to take my car to a car dealership and sell it to them, knowing full well they're going to do nothing but give it a quick makeover and clean up and put it back on their car lot at a much higher price. Obviously, sometimes that might be the way you want to go with your car. It’s the same thing with your house. In your situation, it may be the easiest way to avoid doing repairs and other work.
However, remember that they're going to give you an offer sight unseen for the house based on what you tell them. They’re then going to come out and inspect your home and after they inspect your house, guess what's going to happen? A price drop. They're going to tell you all the things that are wrong with it, and that they need to reduce the price because they didn't know those things when they gave you the offer.
The second thing that they're going to do is make an offer that sounds really good. If it sounds too good to be true, be careful. There's often a lot of things that are written into an offer. By the time that it goes to the clubs, they will sell you on the idea that you're not going to be paying a realtor commission, it will be a really quick close, and they can give you flexibility.
While some of those things are very true and work very well regarding flexibility and cash flows, they’re also going to leave a lot of money on the table. This is because they're going to turn around and resell your house on the open market to all buyers after they've taken it for you and have enough to pay a realtor—even though they told you you were going to save that money.
Working With A Realtor
The last major way to sell your house is through the traditional means of using a realtor. Whether your home is in absolute fix-up condition and needs an awful lot of work or it's prim and proper and completely decked out, it's always always always a good idea to meet with a high-quality, experienced realtor in your area. You want to find somebody that knows their market inside and out.
A realtor can help advise you on what you would get for your house in its current state and condition—as well as what you would get for it if you were to do a lot of work to it. So before you remodel the kitchen that you put off for years, rebuild the fence that's always bothered you, or just accept a random offer from a phone number that you got from a sign, consult a realtor. You may be leaving a lot of money on the table, and they can help you weed through your options.
Fast Cash Offers
Whether you choose to use an agent or one of those other methods, there is another option. We like to offer a more direct and honest approach to selling your home using Fast Cash Offers. What we'd like to do is come out to your house and give you a direct honest approach, telling you exactly what the house would sell for it in its current state and condition. We’ll also tell you what it would sell for if you were to do the work and start fixing it up.
So before you go tearing out the walls and remodeling the kitchen or replacing that fence that’s been bothering you, let's determine whether or not those things are going to yield a good return on the investment. In addition to that, we will submit the house to several buyers and bring you their offers. We’ll explain their offers to you, and we can weed through those to decide if they’re the best options for you.
We'll let you know and you'll be able to see it directly based upon what we've already told you your house is worth. If one of those offers seems like the best option, another thing we can do is get investors that will match their offers. They can often offer you a little bit better solution because we can work the purchase side on where you're going to live next, working a smooth transition between closing on your old house and getting you into a new one.
So whether you choose to go on the open market, fix it up and sell it on your own, or sell to one of the iBuyers, we’ll give you all of those options in one place and allow you to weed through all of the junk. We understand all seller situations are different, and that's what have all these programs for you to choose from. So contact us here at The Mickle Team in the North Dallas suburbs. We’re centered around Plano, Allen, Frisco, McKinney, Texas, and anything that borders those. So if you're looking to buy, sell or invest in real estate in our area, we look forward to hearing from you!