Untold Facts of Selling Your Home
Selling a home takes a lot of time and energy, so most homeowners choose to market with the help of real estate agents.
However, what they don’t know is that there are many tricks realtors use to be more convincing, which can cause you to lose money. Here are six things homeowners would’ve loved to know before selling their homes with a realtor.
Fact #1: Realtors lie about potential buyers
Even when you haven’t chosen to market your home with the help of a real estate agent, some are hunting people who want to sell their houses. A common technique to convince you to hire them is by lying about potential buyers.
Fact #2: It’s not always the perfect moment to sell
Realtors live from the commissions they earn when selling a house. Even during difficult times, they need to sell, which often leads them to lie about the market conditions. However, there are always dips in the market, or seasons where more people are buying.
Fact #3: Open houses are not that great
One of the top techniques realtors use to make homeowners believe they’re doing a great job is suggesting open house events.
In reality, most potential buyers schedule appointments instead of showing up to a random open house. Another problem with open houses is that it’s a window for burglars to enter your home.
Open houses are more beneficial for the realtor. It’s a perfect opportunity for them to prospect new buyers and sellers.
Fact #4: Many agents represent both sellers and buyers
Realtors working as dual representation is one of the worst ways they trick homeowners. There’s no way they’ll have your best interest in mind if they are also representing the buyers.
On the realtor’s side, it’s a big win if he or she manages to sell your home to someone else they are also representing. However, for the homeowner, it could mean missing out on a better opportunity and having to pay for extra expenses, because their agent wasn’t able to represent them accurately.
Fact #5: Home renovations are not always necessary
Some real estate agents might push sellers into investing money in renovations with the excuse of increasing their home’s value. But what they don’t say is that most homeowners are unable to recover what was invested after selling their home.
You might have to do some minor repairs like broken door knobs or leaky faucets, but a full home renovation is not always necessary. In some cases, it might even be better to offer a small discount to the buyer.
Fact #6: You don’t have to pay closing costs
Your realtor might try to convince you to pay for the closing costs instead of the buyer, when you could easily ask the buyer to cover this expense.
Don’t Rush Your Selling Decision
Although, in some cases, there might be external conditions forcing you to sell your home fast, take some time to make your selling decision.
If you choose to sell with the help of a real estate agent, interview several companies, compare what they offer, and ask as many questions as possible. Also, consider other selling methods like for-sale-by-homeowner listings and home buying companies and decide on your unique situation.
How a home buying company can help
An advantage you have by contacting a home buying company is that they can make you a no-obligation offer; this could give you an idea of how your home is valued by others and set realistic expectations.
Other benefits home buying companies provide are:
- You won’t have to perform open houses or list your home on websites, as they are the actual buyers.
- Homebuyer companies work fast, they get your money in as little as seven days, or close the sale whenever it’s more convenient for the seller.
- You can save up money on repairs or home renovations. A home buying company doesn’t care about the property’s condition; they buy houses as-is.
- There’s no need to get your home appraised or to sign a financing contingency agreement.
- Homebuyers usually offer to pay for closing costs and work with local title companies.
Opening Doors Properties
Opening Doors Properties is a local home buying company in North Carolina, striving to help homeowners make smarter decisions and choose the best selling option. If you want to sell fast and cash your home, we might be the right choice.