Here are a few good reasons why it may pay to avoid the MLS when selling your house in New Jersey. Find out if selling directly on your own makes sense to you!
Despite what many people might believe, homeowners have choices when selling their house. For most owners, the traditional route of having a Realtor list the house on the MLS may still be the most appropriate route. However, for others, the process can be expensive and arduous. It’s important to take an honest look at your property, your local real estate market, and examine your needs as a homeowner. If convenience and peace of mind is what you’re looking for, avoiding the MLS could be the best fit. Below are a few of the reasons why you may be better off working with a direct buyer.
Listing your house on the MLS in New Jersey can be expensive. After figuring all of the costs involved, you may discover that it does not make sense to list your house with a New Jersey real estate agent. Here are just a few of those costs you should budget in when selling your house the traditional way:
- Repairs – When selling your house in New Jersey, you’ll likely be faced with repair costs both before and after the inspection process. If you choose to repair your property, make sure the returns make the repair costs worth it. The alternative is giving the buyer a credit at closing for certain items that they want you to fix that appeared on their home inspection report.
- Cleaning – Whether you clean the house or hire a professional, getting it ready for the market will take some time and money. Many people will have the basics done. This can mean having the carpets cleaned as well as the outside power-washed in addition to the standard cleaning that should be done before going to market.
- Advertising – In some cases, home sellers may need to pay for the marketing of their property when working with a New Jersey real estate agent. Photography, staging, premium listings, and marketing materials can all add up quickly.
- Holding – Many people are surprised to see their total bills when looking at how much they are spending on their house each month. A mortgage, utility costs, maintenance, taxes, insurance, and everything else an owner has to pay can reduce your expected profits.
- Commissions – When working with a real estate agent in New Jersey, you can expect to spend about 5-6% of your final sale price in agent commissions. While this is worth it for some properties, for many others saving this money is the better option.
- Closing Costs – As a seller, you can expect to pay 1% in closing costs for the sale of your New Jersey property.
With a direct sale, you’ll have the chance to sell your house fast, without many of these typical costs or fees. You won’t have to pay commissions, closing costs, or make repairs. Also, your holding costs won’t have to add up since the process is generally very fast.
With a direct and straightforward offer from a company like ours, you’ll be able to know exactly what to expect and when we the closing will be. You won’t have to worry about the back and forth, having to make repairs, or offer any sort of credit in order to get someone to buy. In many situations, a potential buyer will want to negotiate the sale price after the inspection and appraisal have been completed. You’ll be able to avoid this with a direct sale.
When your house is listed on the MLS, many prospective buyers will expect to see your home. We have worked with several home sellers who have tried to list their homes in New Jersey without any luck. One of the biggest drawbacks that sellers disliked about the traditional process, was the fact that they had to let strangers walk through their homes on a continual basis. They had to keep their properties clean and be ready to leave the house at any given moment if a potential buyer wanted to see it. This can be a huge inconvenience, especially if you have a large family.
Selling a house fast in New Jersey will make a difference in your overall profits. Costs can certainly add up quickly, especially if the house continues to sit on the market. Before you list your house, be sure to factor in what it is costing you to own. This can include the monthly utilities to the property taxes to the routine maintenance cost. Plus, there are repairs and other things that come up that aren’t always considered. Add these costs to a mortgage, (if you have one,) and you could be looking at thousands of dollars per month. Now if your property sits on the market for a long time, you can see how these numbers can really jump.
Avoiding the MLS in New Jersey can be beneficial for many reasons. Get in touch with our team to find out if a direct sale of your New Jersey house is right for you!