To sell your house fast, a family member or a friend has probably told you to reach out to a realtor. While these professionals can help you get the job done, they may not always be the best option.
In this article, we will explore some of the reasons why working with a realtor may not be the best choice if you want to sell your house fast. As such, we will list a few alternatives to consider.
What Is a Realtor?
A realtor is a professional and a licensed representative that manages real estate transactions. These folks are typically a member of the National Association of Realtors (NAR). They are usually associated with a real estate brokerage firm and work as either a real estate agent or a broker as well.
Although keep in mind that a realtor is different from a real estate agent as realtors completed additional education and training. These professionals hold higher standard of ethics too.
What They Do
Realtors are responsible for several real estate procedures such as pricing, marketing, negotiating and closing the sale. They also help with other aspects of real estate transactions, including legal and financing aspects.
Is Working with a Realtor the Best Option to Sell a Property Fast?
Working with a realtor can be both advantageous and disadvantageous depending on your situation. If you are too busy to handle the sale, for example, then working with a realtor will work.
However, if you prefer to oversee everything about the transaction, then working with a realtor would be disadvantageous for you. Here’s why:
- High commission fees. One disadvantage of working with a realtor is high commission fees. Realtors normally charge around 3% to 6% of the property’s sale price.
Thus, if your house was sold for $500,000 and the realtor charged a, say, 6% commission fee, then you would need to pay a total of $30,000.
Such an amount may seem cheap for some. But if you are, say, financially struggling, that amount is a lot.
For that very reason, owners often add the estimated value of the commission fee on top of the sale price which makes the property less attractive, particularly in a competitive market.
As such, if you want to work with a realtor, carefully consider the commission percentage. Negotiate, if it is possible.
On the other hand, it may be more cost-effective to sell your property yourself or work with a real estate investor who doesn’t charge commission fees.
- Limited control. Working with a realtor will leave you no choice but to give up some control over the sale transaction, which can be a disadvantage.
Aspects such as marketing and negotiation, for examples, are normally handled by realtors. And it can be a disadvantage if you have specific requirements or preferences.
As such, it will leave you no choice but to let them make most of the decisions related to the sale process. And that includes setting the listing price, deciding when to hold open houses, negotiating offers from buyers, and determining which repairs or improvements to make to the property.
If you have specific preferences or requirements, such as a certain listing price or a specific timeline for the sale, you may not have much say in these decisions.
- Time-consuming. Selling a real estate property is a demanding and time-consuming process, to begin with. But what many homeowners do not know is that working with a realtor can make the entire transaction slower rather than faster.
Professional realtors normally conduct an extensive procedure to ensure a successful sale. Part of the process, for example, is repairs and upgrades. Cleaning and staging the property are included as well. And, depending on the condition of your house, the preparation process may take weeks or even months to complete.
Marketing the property can be time-consuming too. Realtors will need to hold open houses, create marketing materials, and promote the property through various channels to generate interest. And all these could take months until an interested buyer is willing to close the deal.
As such, while professional real estate salespersons can provide valuable services to help you with the sale, they still may not be the best option if you need to sell your house fast. On the other hand, working with a real estate investor such as Get Your Fair Offer can offer fast and hassle-free transactions.
- Low sales price. Finally, working with a realtor may not give you the right sale price your property deserves and help you maximize your profit. It is particularly true if you want to sell your house fast. Here’s why.
Realtors normally charge a high commission fee, as mentioned earlier, which can significantly reduce your profit. Selling a property fast normally leaves realtors to consider all offers as well, even if the price is way below the property’s real value as they get far higher incentives.
As a result, you may end up accepting a lower offer than you would if you sold the property yourself or worked with a different type of buyer.
Sell Your House Fast
Selling a house is indeed a tough and demanding process. As such, if you are concerned about getting a low sale price, consider selling the property to a real estate investor. These investors offer fast and hassle-free ways to profit from your property.
Real estate investors such as Get Your Fair Offer are companies who purchase houses and other types of properties as-is and cash! Get Your Fair Offer is one of Houston’s trustworthy real estate investors. We guarantee to give you the best and fair price offer only, which your property deserves.
Reach out to us now and get a REAL offer! Call us at 281-709-2999.
