In the midst of the pandemic, many sellers have called us wondering what the differences are between hiring a real estate agent in New Jersey and selling to a professional home buyer. Many more home sellers are looking for a more convenient way to sell their house because the kids are home making it harder to keep the house in show-ready condition, and the fear of COVID is making families second guess having potential buyers in their homes. In the past, many sellers have instinctively followed the traditional listing method through an agent, but these days it has become increasingly more mainstream to work with a professional buyer for the many benefits they offer.
The House is in Great Shape
if your house is in perfect or near-perfect condition, a traditional listing with a real estate agent will be able to give you a higher profit margin on the sale, no doubt. A good, professional buyer will be able to take the time to listen to you to learn more about your specific selling needs and advise you if it would be in your best interest to work with a traditional real estate agent. In the case of a house that is in great shape or has been recently renovated, the traditional listing route is the best route to take unless you do not want buyers in your house altogether due to COVID or need to sell your house extremely fast.
If your house needs repairs, the professional home buyer route will be the more convenient option if you decide that you don’t want to spend the money to fix them. If you do decide to fix the repairs necessary and are willing to spend the time and money, then the traditional route of listing the home on the market will be your best monetary option. If your house is in a dilapidated condition, such that it would never pass a township CO inspection and therefore not be able to be mortgaged, then working with a direct home buyer could be your best option all around. The amount of repair work that is needed will dictate which option will make the most sense. With the professional home buyer option, there are no formal home inspections that you would need to worry about. The offer that you are given will be the number you receive at closing without haggling over repair credits.
Need To Close Fast
For those selling due to economic or personal hardship, skipping all of the listing processes rather than risk having a home stagnating on the market could mean all the difference between solving your problems immediately and financial ruin. For example, we had a seller call us needing to sell her house within two weeks because there was a tax lien on the property. After two years of not paying off the tax lien, the tax lien holder can foreclose on the homeowner and take over the house. If our company didn’t step in when we did, the homeowner would have lost all of their remaining equity in the home. Selling to a professional home buyer allows you the flexibility to be able to close quickly if you need to. The is a huge advantage from listing the house because some homeowners do not have any time to go through that process. Also, sellers are able to save time and money by avoiding all of the red tape involved with a buyer that needs to qualify for a mortgage, which is another significant difference between hiring a real estate agent in New Jersey and selling your house to a professional buyer. An investor can close faster, and unlike a real estate agent, they can guarantee your closing date. You could walk away with cash in hand in as little as 30 days and, and in many cases, even less time.
Fees and Expenses
The average commission on a real estate sale is near five percent or $5,000 from a sales price of $100,000. When a house needs many repairs and a seller prefers to sell as-is without putting additional monies into the house then this commission will cut into your profit. This is especially true if the real estate agent is selling your house to an investment company like ourselves, which does happen. However, if the house is move-in ready and can sell to a retail buyer like an individual or family that plans to move in, then selling through the traditional listing method will be your most profitable option. A professional home buying company does not charge commissions or other expenses, which is an added benefit, but the current condition of the house will ultimately dictate which route will be better monetarily.
For many sellers especially today, buyer showings are a necessary evil and one of the biggest stresses of selling a home. The home not only has to be maintained in a show-ready condition that requires constant cleaning and maintenance, but some sellers simply cannot imagine allowing strangers to walk through their home during a pandemic. Also, sellers are advised to leave their house sometimes at a moment’s notice which is a huge inconvenience for families, especially those will little children. Skipping the headaches of showings is one of the most appreciated differences between hiring a real estate agent in New Jersey and selling your house to a professional buyer like Halo Homebuyers.
Ready to learn even more about the beneficial differences between hiring a real estate agent in New Jersey and selling your house to a professional buyer like Halo Homebuyers? Halo Homebuyers is happy to answer any questions you may have about what would work best for your situation. At Halo Homebuyers, our team is ready to help you! Call us at (908) 547-0404 today! Send us a message or call us at (908) 547-0404 today!