Make sure you understand the options available to you before you commit to a path.
In just a few short years, it seems the options available to a homeowner who wants to sell his or her house has gone from either hire an agent or sell it yourself to so many options that most of us can’t keep up.
In addition to the traditional methods, home sellers can now choose from a range of iBuyer options, discount brokerages and home-swap programs. How do you decide which option will serve you best?
The good news is many of the options have merged, so you can have the best of all worlds. How so? Companies like Easy Knock will pay you up to 90% of the appraised value of your home up front (less fees) and they will pay the agent who is advising you in the process. If you need to be out quickly or you have another home you want to purchase, you can accomplish both by taking advantage of this option and have the advisor you need to help with both the sale and a new purchase. You may even lease back the home for up to a year in this program.
Knock is another company that basically allows you to swap your current home for another. In this program, Knock will give you up to 75% of your appraised value up front and purchase the home you want. According to Knock’s publications, you can buy a new home before listing your old house for sale, skip the hassle of living through house showings, pay only one mortgage at a time and build equity while you sell. You may also receive up to $25,000 of home prep work prepaid so your old house sells for the best price, and you avoid renting costs and moving twice.
Of course, if you have sufficient knowledge of the industry and don’t need an advisor, you can go the old-fashioned route of selling your home yourself. There are advantages and disadvantages to this approach. If you aren’t familiar with the selling contract process, critical mistakes could cost thousands of dollars. You may also miss out on giving your home the maximum selling exposure without the benefit of a brokerage or listing service.
Some companies are a hybrid of the sell-it-yourself versus sell-with-an-agent approach. They help you place your house on the market and provide limited services for a lower fee. However, you still need to have sufficient knowledge of the process to deal with the complexities of selling your home in this scenario. You also must be prepared to deal with many potential buyers and do most of the negotiating. The time commitment could be substantial, and the potential pitfalls are many.
Making A Good Choice
Overwhelmed by the options? You don’t have to make a hard-and-fast decision right away. Instead, talk to a few good agents, get quotes from several iBuyers, and scope out your local market. The programs listed above are only a snapshot of the available options in the selling process. Make sure you understand the options available to you before you commit to a path. QCBN
By Nick Malouff
Nick Malouff is the CEO and co-owner of Better Homes and Gardens Real Estate BloomTree Realty with offices in Prescott, Prescott Valley, Cottonwood and Sedona. To reach Nick or a highly qualified agent, please call 928-443-8800.
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