• Red Oxen Bloggers

What are the ways I can sell my house?

Updated: Mar 27

As more options emerge for selling houses, it can be challenging to determine what option is best for your situation. Should you try and sell it yourself? Focus on using an agent? Explore new platforms?


Let’s examine the pros and cons of different ways to sell your house, and you can start to dive into what might be best for you. We’ll go from simplest (selling it yourself) to most complex (using an iBuyer) and everything in between. If you have deeper questions, a Keller Offers Certified iBuyer Expert is your best option to learn more.

Read What are iBuyers?

Sell it yourself


Doing a for-sale-by-owner (FSBO) is an approach often-considered when selling a house. As the seller and owner, you have complete control over the process. You can choose the price, when you go on the market, and any other element of the process. Of course, with an agent, you still have these options, though it may not always feel that way. Additionally, when selling yourself, you avoid paying commission on the seller’s side of the transaction.


There are disadvantages as well. Having control can be good—having to make every decision with no one to give you advice can be bad. Additionally, you’ll be negotiating with a trained negotiator, which may be good or bad depending on your background. Spoiler alert—most of the time it will be bad. In a 2018 independent survey performed by the National Association of REALTORS, FSBO sellers reported that their biggest challenges were getting the desired price for their house, understanding paperwork, and selling within a planned amount of time.


Pros of doing a FSBO:


● Avoid listing agent commissions


● Control the entire process


Cons of doing a FSBO:


● In charge of the entire process without professional help


● Not guaranteed to net more money, factoring in time on market and negotiating challenges


Use a discount broker


There is a midrange option between a full broker and a FSBO: Using a discount broker. There are brokers who will list your house for you by placing it on the MLS and doing marginal advertising. Some do it for a flat fee, while others take a small percent.


Pros of using a discount broker:


● You get slightly more exposure


● It’s usually cost-controlled


Cons of using a discount broker:


● You’re still effectively making all decisions


● Usually you receive minimal negotiation support


List with a traditional broker


The vast majority of sellers list with an agent, either from a national brand or a local independent broker. Brokers are able to provide key services, like recommending a list price, setting up needed repairs, and negotiating on your behalf. Top agents are more like real estate consultants, and can apply their expertise to different houses as needed.


The disadvantages of using an agent compared to the first two options is often thought to be cost. Having to pay an agent a commission can impact the bottom line, yet many sellers find that their net proceeds are still higher with an agent. Generally, your success with an agent will be related to the quality of that agent, not whether you use one in the first place.


Pros of using a broker:


● Your house will get a lot more exposure


● A good agent will allow you to net more money faster


● Reduced stress


Cons of using a broker:


● Some agents will struggle to maximize the experience for you


● You do have to pay a commission


Use an iBuyer


A fairly new option on the landscape is the iBuyer. iBuyers make offers on houses based on algorithms that predict how much they can offer and still make a profit. As opposed to going on the market, using an iBuyer allows you to avoid showings and some repairs, and allows you to time your sale to match up with other transactions you might need to do.

Read Do iBuyers Buy Ugly Houses?

So convenience and speed are the advantages of using an iBuyer. These advantages can come at a cost, however, as iBuyers need to themselves make a margin, and will re-list the house as soon as they can. For this reason, they sometimes offer a little lower than what the market might bear, and there can be fees involved as well.


Pros of using an iBuyer:


● This is the fastest way to sell


● This is the most convenient way to sell


Cons of using an iBuyer:


● You’ll often not net the highest amount


● You don’t have someone negotiating on your behalf

Read iBuyers vs Flippers

Conclusion

There’s another option that’s new to the industry—a certified iBuyer specialist through Keller Offers. A Keller Offers


Certified iBuyer expert gives you the best of both worlds—the knowledge of an expert, with all selling options available. As the industry continues to grow, the value of an expert who knows all potential avenues will continue to increase. Contact a Keller Offers (KOCiB) Certified Agent today to understand all of your options!

Read The iBuyer Process

Written by Brian Gubernick on January 7, 2020




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