Avoiding The Traditional Home Sales Process

If you are selling a home, why pay all the fee’s? Avoid the traditional home sales process with a real estate agent by selling to a cash buyer. Here’s how.

If you’ve heard you should always sell your house through a , you should know this is not always true. In fact, to find off market properties, sellers can explore various methods such as contacting local real estate agents, utilizing off-market listing services, or even advertising directly to potential buyers, which don’t involve the traditional home sales process.

What does off market mean in relation to fair market value?

In simple terms, selling a house off market means putting a house up for sale without listing it on the MLS (multiple listing service), contrasting with the traditional route of using MLS listings. The MLS is the network of real services used by agents and brokers to publicly promote houses for sale, manage contracts, and establish guidelines for commissions and compensations. When a house sells off market, it is typically purchased in a more direct transaction by a cash buyer and not subject to this market process.

Why sell to an off-market buyer?

If you are pressed for time, don’t have the money to make repairs, or can’t gamble on how fast your house will sell, then selling off-market may be the best option for you. Determining the fair market value for off-market sales can be challenging, as it requires a professional comparative market analysis to gauge accurately.

Real estate agents have an incentive to sell property at the highest price they can get, as it increases their commission. However, to get the best price, that means listing real estate publicly on the market to attract more potential buyers. But appealing to more buyers likely requires cleaning and fixing up the house, staging it, hosting open houses, and other time-consuming and expensive activities. The longer the house takes to sell on the market, the more expensive it gets, and the more inclined the agent may be to settle real estate for less than the fair market value.

An off-market transaction avoids this stress and expense. In fact, the main advantage of selling real estate off market is that you sell your house as-is, with all it’s charming (or not) imperfections. This means no repairs, and no need to spend the time it takes for showings and searching for a buyer when selling property off market.

Why not sell off market?

Of course, selling property off market is not for everyone. When you list on the MLS and sell through an agent, more people are going to see your home, thanks to the exposure that MLS listings provide. This is partly due to policies from the national association that may affect off-market sales, ensuring a wide visibility among potential buyers. More potential buyers mean more potential competition and thus, an increased likelihood of selling your real estate for more money. Additionally, pocket listings offer an alternative route for sellers, allowing them to market their homes privately to a select group of potential buyers, which might still attract competitive offers even without MLS listing.

Without testing the waters of the open market, it’s difficult to know what your house is truly worth. For example, if property is located in a very high demand neighborhood, listing your house on the open market could create a bidding war, in which the sale price can go well over the asking price. However, if your property is not in great condition, it’s highly unlikely that this will happen, as there can be better options on the market.

Find out how Homeinc can get you a cash offer and put money in your hand in as few as 2 weeks, so you don’t need to spend months on looking for buyers.

Credit: Team Sundae