Looking For Home Buyers In Leominster?
We Analyze The 3 Ways To Sell Your Home In Leominster
If you own a home and are thinking about selling to home buyers in Leominster MA, you have a number of selling options available to you. In this blog post, we’ll look at those 3 ways and break them down to help you determine which way is best for you.
For most people, owning a home is the largest purchase of their lives. So it’s not surprising that the process of buying a home or selling a home can be extremely complex.
Over the years, three home-selling options have developed to allow homeowners like you to sell to home buyers in Leominster, Massachusetts. As you think about selling your home, you need to decide which way to sell is best for you, given your goals and timeline to sell.
Home-Selling Method #1: Sell Through A Real Estate Agent
This is the traditional way to sell your home, so it’s also the most common. In this home-selling method, the homeowner chooses a real estate agent who will list the house.
The agent acts as a “middleman,” showing prospective home buyers in Leominster through your house until one of those buyers decides to buy. They’ll make an offer, the agent will negotiate on your behalf, and then you’ll close.
The timeline on this selling method can take months (the average is 3-6 months). Sellers who choose this method prefer to gamble on the timeline to do less work (the agent does the work) and with the hopes of selling at the market price. However, sellers who use this method will often need to spend money up-front to repair their house first, and then spend money after the sale on agent fees and commissions.
Home-Selling Method #2: Sell On Your Own
This method of selling has grown up in response to a desire to save money on agent commissions. The process is very similar to the above method of selling but it’s done by the homeowner themselves, and not by an agent.
There are two approaches to this process: The first process is referred to as “For Sale by Owner or FiSBO”, whereby the seller doesn’t list their home but rather puts a sign on it and advertises it on Craigslist and other internet sites.
The second process is referred to as “entry only” or “fee for service”. The homeowner lists their house on the local MLS, shows it to prospective buyers, negotiates with the buyer, and closes the deal themselves. The listing firm charges a flat fee of between $350 and $600 depending on the services offered and then can, but doesn’t have to, offer a fee to a buyer agent for bringing a buyer to the seller. There is no obligation to pay a buyer agent. This may exclude some buyer agents from showing your home but that is on them. If their buyer client finds the home on Zillow.com for example and wants to see the buyer agent will simply have to work out their compensation directly from the buyer and not from you the seller. This sounds out of the ordinary, and it is, so if you would like more information about this and a link to a firm that does entry only listings in MA, call Tom at 978-248-9898.
There are a lot of similarities – the timeline is usually the same and the homeowner will still have to pay up-front for repairs on their house to make it salable. Sellers who choose this method don’t mind the extra work involved in showing their house; they usually choose this method to save money on commissions.
Home-Selling Method #3: Sell Direct To Home Buyer In Leominster
This method of selling is gaining popularity as homeowners look for a third way to sell. This process is very different – it’s also faster, easier, and doesn’t cost the homeowner anything (so it’s not surprising that this method is gaining popularity).
Rather than listing and showing the house or negotiating, the homeowner simply sells their house direct to a professional home buyers in Leominster with cash and who is ready to buy the house as-is right now.
It’s faster – the buyer has money and is ready to buy; it’s easier on the seller – there is no expense or effort to repair the house before it’s sold; and it doesn’t cost the homeowner anything – professional home buyers (like what we do here at Tom Buys Houses) usually pay closing costs and fees.