The housing market is going through a significant change. Home prices are increasing, the supply of homes for sale is decreasing, and properties are taking longer to sell.
In June 2023, houses remained on the market for 40+ days, marking a 41.93% increase from the previous year.
However, if you’re in a hurry to sell your house, you still have some great alternatives.
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How to Sell Your Home Fast: 5 Options
You can consider selling to cash-buying companies, exploring home trade-in options, or listing your property on the MLS to attract top-dollar offers.
Homeowners have 5 ways to sell their homes fast.
Option 1: List on MLS
You can get the best price for your home if you list on the MLS. All-cash homebuyers like Opendoor and We Buy Ugly Houses look for properties on MLS.
According to Bright MLS, homes listed on the MLS sell faster and for 17% more than those sold outside. You can even choose to receive cash offers on the MLS exclusively.
To get your listing on the MLS through a Flat Fee MLS service, you have to pay just $299, and your listing goes live within 24 to 48 hours. We highly recommend using a Flat Fee Listing service to ensure a quick sale at the best possible price for your home.
▶️ List My Home On MLS Without A Realtor: Here’s what you need to know about listing on the MLS without an agent.
Option 2: Sell to an iBuyer
iBuyers, also known as instant buyers provide cash offers for your property within 24 to 48 hours.
If you accept their cash offer, you can close the home sale in as little as 7 days. Companies like Opendoor and Offerpad can offer 90% to 95% of a home’s fair market value (FMV).
However, it’s crucial to note that this generous offering typically holds when the housing market is on the upswing. During a downturn, iBuyers might only extend offers 70% or less of the home’s FMV. In such circumstances, the drawbacks of the iBuyer model tend to outweigh the benefits.
Option 3: Sell to a “We Buy Houses for Cash” Company
“We Buy Houses for Cash” companies offer a quick solution to sell your property in as-is condition. They offer instant cash and typically complete the sale within 10 to 15 days. Major cash home buyers operate across the nation.
However, it’s important to note that cash house buyers are not the ideal choice if you’re aiming to make a profit. These companies tend to make offers significantly below market value, ranging from 30% to 70%. Their offers are mostly non-negotiable.
Option 4: Hire a Traditional Realtor
Experienced real estate agents possess the knowledge and skills necessary to facilitate a speedy sale of your property while adhering to a specific timeline.
These professionals take care of the tasks involved in the process, which include professional photography, organizing showings and open houses, and handling all the necessary paperwork until the closing.
Option 5: For Sale By Owner (FSBO)
77% of homeowners who opted to sell their homes without a realtor successfully closed their deals within two weeks.
You won’t use MLS services when you sell your property ‘For Sale By Owner’ (FSBO). Instead, you’ll work on tasks such as conducting market research, advertising your property, and drafting the FSBO contract yourself.
In addition, you can list your property on For Sale by Owner websites for free.
▶️ Where Can I List My Home For Sale By Owner: Here are the rankings for the best For Sale By Owner websites.
Should I Sell My House FSBO?
Selling your home without the MLS or technological support has a significant drawback: the potential for a slower sale. Here’s why:
1. Limited Exposure: Without MLS exposure, your chances of attracting online, cash, and investor offers are limited.
2. Pricing Challenges: Lack of professional advice might lead to overvaluing or undervaluing your home.
3. Limited Marketing: Your marketing efforts may rely solely on word of mouth or a yard sign.
4. DIY Paperwork: You must independently research and obtain all the necessary housing paperwork and seller disclosures.
5. Negotiation Inexperience: Selling may be challenging without negotiation experience.
Top 3 Companies for a Quick Home Sale
1. Houzeo.com: Houzeo is America’s #1 real estate marketplace, offering advanced features. Listing your property on Houzeo ensures exposure to local and national cash buyers through the MLS, making it an excellent choice for receiving multiple cash offers.
▶️ Check out Houzeo Reviews: Check out the reviews to learn more about the company.
2. Opendoor: Opendoor provides a straightforward and convenient platform for obtaining instant cash offers for your home. With Opendoor, you can complete the sale of your home within just 10 to 15 days. Remember that Opendoor’s service fees can go as high as 5% of your home’s sale price.
3. We Buy Houses: WeBuyHouses operates as a thoroughly vetted network of real estate investors. They diligently screen their investors before allowing them to run independent offices in their respective areas.
Tips for Selling My Home Quickly at Its Full Market Value
To maximize your chances of selling your home fast for the best possible price, consider these five strategies:
1. Utilize MLS Listing: The Multiple Listing Service, or MLS, exposes your property to a broad audience, including prospective homebuyers, cash purchasers, and iBuyers. Additionally, your listing gets shared across real estate websites like Zillow and Realtor.com.
2. Opt for Professional Photography: Research indicates that listings featuring professional real estate photos tend to sell 32% faster.
3. Price Competitively: In a competitive market, your goal is to capture attention and generate interest. Pricing your home competitively makes it a more attractive option for potential buyers.
4. Offer a Competitive Agent Commission: Consult with a local broker to determine the recommended commission for buyer agents. While many sellers provide a 2.5% commission, offering a higher rate, such as 3% or 4%, can expedite the sale of your home.
5. Be Prompt in Responding to Potential Buyers: Quick responsiveness to buyer inquiries and a willingness to negotiate offers can help maintain buyer interest and prevent them from looking elsewhere.
