If you’re reading this post then you are probably thinking of selling your house. Selling a house in today’s market can be frustrating. There are so many houses available on the market, buyers have plenty of options to consider before choosing. Many homes, especially in the Indianapolis housing market, have gone through significant remodel and are in what real estate professionals would call “move-in” ready condition. This is what buyers today are looking for, they want to close on Friday, move in on Saturday and throw a party on Sunday. Additionally, new home construction is high and intensifying competition among homeowners looking to sell their house.
In this post we will discuss working with a real estate broker when your house is in less than “move in condition,” a house that is distressed or just needs some TLC.
Most homeowners aren’t aware that selling their home direct to an investor is an option. See what they may be missing out on by checking out additional posts on our website www.ittenbachcapital.com where we discuss alternatives to using a real estate agent and when it’s probably a good idea to call a reputable real estate investor if you need to sell your house fast and are looking for a cash offer.
If you are reading this post, then more than likely you’ve bought a house before and now you need to sell it quickly; odds are you worked with a realtor. Working with a realtor has it benefits as well as drawbacks. There are fees and commissions that come along with a realtor but also knowledge and experience to help guide you through the process. This can be reassuring but the process is often a lengthy one. Another thing you should consider when working with a realtor is the overall attractiveness of your house. We’re not talking curb appeal here but rather profitability and overall attractiveness to the broker.
You see, real estate agents and brokers work on commission. If you have a house that is in move-in ready condition and valued at a higher price, more than $250,000, then it is very attractive to a broker who will make between 3% and 3.5% commission (6% and 7% commissions are split between the buying and selling agent). This means that for every $100,000 a broker is going to make $3,000 to $3,500. This starts to add up when considering the sale of a $300,000 house. Now let’s consider your house for a moment. Take your time here, walk around your house and really look. Get outside, how’s the curb appeal? Does the house look tired? Is the roof worn? How does your house compare to the neighborhood? Is your house in move-in condition? By this we mean, has the house been updated to reflect the latest trends.
A house may be livable, but would someone want to live there or pay top dollar? Does your house need any major repairs? Are there any major expenses on the horizon? How desirable is the location of your house? In real estate, everything matters!
Considering all this, if you have a house that’s worth $100,000 and needs considerable TLC then it will likely take longer to find a buyer. Additionally, your selling price will have to reflect deductions for needed repairs and updates. On this particular deal a broker may only make $1,500 and have to work harder, if it can sell in its current condition at all. You have to ask yourself, how motivated is an agent going to be to work on your behalf to market and sell your property?
If your house is going to require “additional help” to sell you may want to consider working with a smaller brokerage firm. They will more than likely give you and your house more attention than a national franchise will. You may also want to consider offering your real estate agent a “selling bonus” if the house is sold at either a specific price point or within a specific time. Another option to consider is “seller financing” or selling your house on contract.
Most real estate agents will gladly list your house because it doesn’t take much time or effort. This is known as a “list to sell” mindset. If an agent is always listing than an agent is always closing. Once the house is listed, don’t expect much in terms of actively promoting the property, this effort is typically relegated to more profitable listings or houses with higher list prices and better condition. Once listed you will have to endure numerous showings. The rougher the condition of the home the greater number of potential buyers will have to see it before the right one comes along.
It will be expected of you to make repairs or correct any major defects in the home before closing. You could be looking up to 6 months to find and close with a buyer when working with a traditional real estate agent.
So if you have a house that is in move-in ready condition and have loads of time then maybe a real estate agent is the best option for you. If your house needs some TLC and/or you need to sell your house quickly then you may want to consider selling your house to a real estate investment company like Ittenbach Capital, an Indianapolis based company that buys houses for cash in “as-is” condition.
Welcome To The Easiest Way To Sell Your House!
At Ittenbach Capital, we are more than just a real estate company, we are a solutions company! We expect you may have many questions about selling your house, especially selling direct to a professional home buying company. Hopefully this post provided some insights to help you along your journey.
This isn’t something that happens every day, we get that. We have the answers because this is what we do, we buy houses for cash in Indianapolis every day. One thing you should always remember, this is your house and you are in control. Take time to get to know the company you intend on working with. A professional home buying company like Ittenbach Capital will be transparent about their process, be able to answer your questions with ease and empower your decision-making with information.
For more information about selling your house direct to a real estate investor like Ittenbach Capital, pick up the phone and give us a call at 317-731-2540 or check us out online at www.ittenbachcapital.com for more information. You may be asking yourself if selling My House With A Real Estate Agent is the best option for you. Give us a call, you are never under obligation asking questions. We are here to support whatever direction you feel are in your best interests. We also have our own real estate brokerage firm if you want to try to list your house on the open market fist. We can always fall back on a cash offer if the property doesn’t sell.
See why we love our clients and they love us…click here and see why Ittenbach is the midwest’s premier home buying company.
To your success…