When selling a home or property, you have two primary options: Sell it directly to a cash buyer, or list it with a real estate agent. Both have their advantages and disadvantages.
Selling your house to a cash buyer is easier, but you won’t be sure you are getting the highest amount. Listing with an agent might bring a higher offer, but it will probably take longer, and you will pay both the listing agent and buyer’s agent from your proceeds.
That being said, should you sell your house to a cash buyer or list with an agent? In this roundup blog, we’ve compiled essential insights to help sellers determine what’s best for their unique situation.
Cash Home Buyers vs Traditional Realtors: Definitions
Cash Home Buyers
Cash home buyers are individuals or companies that purchase properties directly from homeowners without the need for financing from banks or mortgage lenders. These buyers typically offer a quick and hassle-free sale process, as they are able to purchase properties with their own funds, often in as-is condition. Cash home buyers may include real estate investors, companies specializing in buying properties for investment purposes, or individuals looking for a straightforward transaction.
Traditional Realtors
Traditional realtors are licensed professionals who assist homeowners in selling their properties through the conventional real estate market. They provide services such as property valuation, marketing, showing, negotiation, and paperwork assistance. Traditional realtors typically list properties on multiple listing services (MLS) and utilize various marketing strategies to attract
potential buyers. They often guide sellers through the entire selling process, including handling offers, inspections, and closing procedures. Traditional realtors earn a commission based on the final sale price of the property.
Cash Home Buyers vs Traditional Realtors: Why Should Someone Sell Their Home to a Cash Home Buyer as Opposed to a Real Estate Agent?
Here’s what our franchise owners say about why someone should sell their home to a cash home buyer as opposed to a real estate agent.
1. Receive Funds Quickly
2. Close in as Little as 7 Days
3. Pocket More Money
4. Provides a Personal Experience
5. No Pressure
6. Sell Your Home As-Is
7. Easier Transaction
8. Save Money at Closing
9. Certainty
10. Customized to Your Needs
11. Quick & Straightforward Process
Cash Home Buyers vs Traditional Realtors: Additional Determining Factors
What Is the House’s Condition?
Most inherited houses have deferred maintenance and need to be updated. If, however, the house is in good enough condition that a buyer could get financing and be happy, you should probably list it and let your agent market it to the highest number of buyers. If it’s in good condition, the additional amount you’ll get on the market will probably exceed the agent commissions.
However, if the house needs work, it will be a cash buyer who most likely buys it on the market. It might then make sense to sell to a cash buyer who will add value to the house through a remodel. By selling your house directly to a cash buyer, you can avoid the hassle and costs of listing with an agent.
How Much Time Do You Have?
Selling a house to an investor with cash is pretty easy and fast. They can typically close within a week and you don’t even have to clean anything up. A cash buyer usually does all the cleanout and can even help solve probate issues that might come up.
While an agent will handle a lot of the work that comes with listing a house, you’ll still have to deal with negotiating offers, inspections, and the time it takes to go through the process. Many market contracts fall through due to inspections. That can significantly increase the cycle time of selling a house. And don’t forget to count the costs of holding the house for a few months while it goes through the process.
Do You Care What Happens to the House?
For many families who have inherited property, it’s not just a house. It’s the centerpiece of your family’s story. You might care if the buyer is going to invest in the house or simply turn it into a cheap rental property.
If it’s in good condition, it will probably become another family’s home where they raise their children. If it’s in poor condition, it will likely be purchased by a cash buyer who flips homes who will invest in it or a landlord who might rent it with the least amount of work possible. There’s also a chance the market buyer will be a landlord who will put in the least amount possible. By choosing a real estate investor who will invest tens of thousands of dollars into a remodel, you will know the house will be preserved and enjoyed by families for years to come.
Cash Home Buyers vs Traditional Realtors: What Can Help a Seller Determine What’s Best for Them?
Determining whether cash home buyers or traditional realtors are the better option for selling a property depends on various factors that cater to the seller’s needs and priorities.
Cash home buyers offer a swift and straightforward process, typically completing transactions faster than traditional realtors. Sellers seeking quick transactions, perhaps due to urgent financial needs or property-related concerns, may find cash buyers more appealing.
On the other hand, traditional realtors provide comprehensive services, including marketing, negotiating, and handling paperwork. Sellers who prioritize achieving the highest possible sale price or who value extensive market exposure and professional guidance may lean towards working with traditional realtors.
Evaluating time constraints, financial goals, and the desired level of involvement in the selling process can help sellers determine which option aligns best with their circumstances and objectives.
Want to Avoid the Hassle of Listing with a Traditional Real Estate Agent? Contact the Cash Home Buyers at New Again Houses Today!
Avoid the hassle of listing your home with a traditional real estate agent and experience the benefits of selling a house for cash with New Again Houses. No waiting, no contingencies, no banks, no repairs, and no need to clean up the house. We buy houses with cash in as-is condition, and we can close in as little as 7 days.
New Again Houses® was founded in 2008 as a way to transform old houses into new modern homes through a culture of innovation, ownership, and win-win relationships. For homeowners looking to sell their home fast and sell their home for cash, New Again Houses is the perfect place to get started! Contact New Again Houses today and sell your house in any condition!