If you’re looking to quickly sell your home at a profit, now is one of the best times to do so. As HomeLight explains in their Top Agent Insights for Spring 2021 report 97% of real estate agents report that they’re currently in a seller’s market, and 91% of agents report that the inventory in their region is lower than what they previously expected.
Considering how interest rates are currently at historical lows, if you’ve been thinking of selling your home, now’s a great time to put your home on the market. While selling a home can be daunting, the information in this article will help make the process much more manageable.
Understand what goes into an all cash sale
Even in the hottest housing markets such as the one that exists today, it can take a couple of months for a sale to close from the date an offer is accepted. To complete the entire sale sooner many homeowners have explored requesting all-cash offers, and working with a top-rated real estate agent throughout the entire selling process.
Selling your home for cash typically works with the homeowner jumping right into negotiations with a buyer, rather than having them attend a showing and review all the details of the property. Instead, the buyer determines their offer amount based on a quick home tour or just reviewing photos. From there, the buyer will make an offer, and the homeowner can either accept or decline. Even with this expedited process, you still need to account for complications such as HOA requirements and material repairs, however things generally still move quickly.
Cash sales are ideal for homeowners in a variety of scenarios such as having an outdated property in a great school district, if the property would make a decent rental, or if you live in a neighborhood with similar homes in good condition.
Keep in mind that the convenience of all-cash sales frequently comes at a cost because the buyer is taking on more risk, and you’re also in most cases giving up the chance to get multiple offers and have buyers bid against each other.
How to find the right agent to help with selling your home
Another popular option for selling a home is to work with a real estate agent to facilitate the sale. Although paying a 6% or so commission to a real estate agent may seem pricey, hiring an agent to sell your home can pay for itself because agents know the in’s and outs of the markets they serve, enabling them to help you sell your home for a better price.
Agents also take care of all the logistics associated with a home sale, from preparation, promotion, showing, and negotiations. All of these can easily become a full-time job for the average person who isn’t familiar with the industry.
Additionally, it’s important to note that eal estate agents only pocket part of the commission from home sales. Much of it goes to cover the cost of the buyer’s agent, broker fee, membership dues, and other expenses associated with their business. All in all, the fee to retain a realtor is a great value.