Selling your house can be an exciting time, and there are different ways to go about it! Depending on your situation, your timeline, and your interests, there are three good yet different options you may want to consider. In this post, we offer a quick overview of the paths one can take when selling a home!
Spring has sprung and a lot of people are eager to move into the 2021 spring season with a renewed interest in selling a home. Our team at Anna Buys Houses is dedicated to helping homeowners in the Omaha metro area who are looking for a simple way to sell their home quickly. If time, money and/or energy are in low supply, we might be a great option for you. However, given the hot real estate market, there are actually several good options when it comes to selling your home right now, depending on your situation, timeline, and interests. We hope this short piece will help you think through three common sales avenues. And we encourage you to pencil out the costs associated with each one to know what to expect as you start the process.
Hire a Local Omaha Real Estate Agent
Hiring a real estate agent in Omaha is typically the first thing people think about when they decide they want to sell a home. And based on our experience and relationships here in Omaha, there are many very good agents! Because the real estate market is so hot right now, using an agent is ideal for many properties, especially those in good condition. But honestly for others, it can be pretty costly and time-consuming.
When you are selling a house in good condition and are working with an excellent Omaha real estate agent, the listing process can be highly beneficial and a really positive experience – especially right now in this hot real estate market! There are a lot of outstanding agents in Omaha. We bought the home we live in with the help and expertise of Connie Betz with Berkshire Hathaway Home Services. She is terrific in our humble opinion! Another great group we’ve worked with here in Omaha is kwELITE. And we know there are many others.
It’s definitely a seller’s market which means generally, you should be able to get a good price for your property. If your home has been well kept and updated fairly recently, you’ll likely get top dollar, and your agent can help you market the property to ensure you get some strong offers. Right now, it’s not uncommon for sellers to receive multiple offers! Homes that are clean, updated, and well maintained should sell quickly, which can really help you save on holding costs. Your agent can analyze the market and help you price the home at a sweet spot in order to attract the most interest and offers.
In all fairness, one challenge when working with an agent is the uncertainty involved. As in all professions, some agents are simply better than others. Be sure to interview at least a couple to understand their track record, and how they work and communicate; hopefully you can find an agent who listens and respects your goals regarding your property and the sale. Another challenge is keeping a positive mindset throughout the process! Try to be realistic, knowing that your house may not sell right away, for a reason unknown to you! And your agent may recommend lowering the asking price. They usually have a good sense of the current market, given the other properties for sale, so it’s often very wise to follow their counsel. Another challenge most people realize is that in order to be ready for showings and open houses, agents may recommend that key repairs are made before putting the property on the market, and offer strong encouragement that your home to remain clean and tidy. Naturally your agent will be the happiest when your home is looking its best! Keep in mind there can be a fair number of costs involved when listing your house, one of the largest being the agent commissions, which is why some homeowners choose to sell it themselves, or work with a direct home buyer.
For Sale By Owner/FSBO – Sell the Home on Your Own
Selling a property on your own without an agent can seem like a wise choice, and for some people, it truly may be. However, it’s vital to do your research and understand the process beforehand, so you don’t end up regretting your decision to go it alone.
Using the For Sale By Owner (FSBO) method to sell your house in Omaha or any other location can save you significant money on the agent commissions. Many see this – keeping more of the profit – as the most important reason to sell property on their own, without an agent. Don’t get us wrong, making and saving money is a great thing! But do enter the FSBO process with a clear understanding of your responsibilities and obligations, and the risks that may be involved. Another plus some sellers see with the FSBO option is that it can allow them to feel like they are controlling the process more thoroughly themselves; setting the sales price, negotiating the terms, etc. With a good realtor, of course you should able to do this, but some people just like to be in the driver’s seat and work more independently.
The truth is, selling your house on the open market without the help of a professional real estate agent can take a lot of time and end up being quite a bit of work. When you choose to sell this way, your time will likely be spent fielding calls from potential buyers and answering lots of questions, showing the property, marketing the property, and dealing with negotiations and inspectors. Some FSBO sellers choose to hire an attorney to review the legal documents, to have an astute second pair of eyes on all the paperwork to ensure its accuracy. It’s entirely legal and possible to sell a home without using a realtor, but you do need to do your research and homework beforehand, to be sure you do it right.
Sell Your House Directly to a Professional Home Buyer
Working with a direct home buyer like Anna Buys Houses is another option that often appeals to sellers who are short on time, money, or the energy to make home repairs and updates themselves. Working with a local Omaha company like ours should allow you to sell quickly, without repair costs, open houses, waiting for financing, or paying agent commissions. Our process is known to save clients time and money because we typically pay cash and can close quickly. Another upside is the fact that we actually like to purchase homes we can repair and remodel; keep in mind, for professional home buyers like us, no house is too daunting a project! You really can leave the repairs and updates to us! For many homeowners, speed, convenience, and a guaranteed sale can outweigh the risks of a traditional MLS listing or trying to sell the home themselves.
What we hear as the main (perceived) downside of selling a house directly to a professional home buying company like ours is the concern about not receiving the full retail price. Direct home buyers will usually offer a lower price than you might receive through the traditional MLS listing or by selling as FSBO; but, it’s critical to factor in the money you (as the seller) can likely save by not having to make repairs and updates (and then more repairs after an inspector goes through the property on behalf of a traditional buyer). Selling directly to a professional home buying company like Anna Buys Houses can also save hundreds if not thousands of dollars associated with commissions, marketing expenses, holding costs, and closing costs. In the end, the final profit on the home sale may be quite comparable to selling through an agent or via FSBO.
At Anna Buys Houses, we know it’s important that home sellers get as much information as possible in order to make a good decision about how to best sell their Omaha home. Each of the three options mentioned above can work well in different situations. We encourage you to continue to dig in and compare. Every property and situation are different, which is why we are proud to offer a good, alternative solution to help clients reach their real estate goals.