Short sale.

Selling your house fast with a real estate agent will cost you relatively little money, and it’s mostly payable when the house sells and the deal closes. In other words, it’s a win-win situation for the home seller and the real estate broker. All commissions in the real estate business are negotiable; there are no set standards or customary fees. Commissions do very well, and they depend on the level of service, just like in any other industry. If the agreed commission is 5% of the house sale price, it is usually shared between the buyer’s brokerage and the seller’s brokerage. Please note that iBuyers generally charge the home seller a 7% to 20% service fee.

Offer to sell your house fast to an online instant buyer. An instant buyer, or “iBuyer,” is a person or company that will buy your house fast and pay you cash. The “I” stands for “instant.” Most iBuyers will ask you to fill out a worksheet with information about your house, attach pictures of your house, and wait a few days for an offer. However, iBuyers only buy certain types of property and only in areas of interest. When you enter your property address, their website usually tells you if your property qualifies.

For Sale by Owner.

Instant buyers let you set the closing date. This is useful when purchasing and selling your house fast at the same time. An instant cash buyer may be able to close within two weeks. Closing time varies depending on the iBuyer, location of your house, and other circumstances. You must agree to pay a fee, which runs from 7% to 20% of the offer. Be aware that instant buyers will offer you an average of 25% less for the property relative to it’s estimated market value. An iBuyer will also subtract the projected cost of any repairs from the final payment.

Potential Instant Buyer disadvantages. A disadvantage with iBuyers is not knowing how much the home would sell for on the open market with the assistance of a real estate listing broker. If speed is your objective, you may be ready to walk away from a much higher sale price in exchange for a predictable closing time. Some job transferees may be able to recover certain losses from their employers.

The best home value estimate.

Selling your house yourself (a “For Sale By Owner” sale). Selling without the assistance of a licensed real estate broker or listing agent, frequently referred to as “FSBO” or “For Sale By Owner,” may expedite the process. Selling to a neighbor, relative, or friend is a major reason FSBO homes sell quickly because it is a pre-arranged sale. It cuts down marketing time practically to zero.

Disadvantages of selling without a real estate broker. In order to sell your house quickly, you must first locate a ready, willing, and able buyer. Your friend or family network may be able to bring you a buyer, but they always expect to pay less than the market value of your home.

Expired listing. 

While pre-arranged FSBO transactions may be fast, the official National Association of REALTORS® data reveals that they sell for a lot less money. In 2020, the median price of houses sold by REALTORS® was $295,000, while the “For Sale By Owner” median price was only $217,900. The $77,100 differential is worth considering. Even if you hire the most expensive real estate broker and agree to pay the top commission of 6%, this would leave you with 20% more in proceeds. It is the home seller’s choice. You can try to take a shot in the dark by doing all the work yourself which most sellers have never done, and sell it for 26% less, or hire a real estate professional, agree to pay a 6% commission, and allow them to do all the work and net 20% more in proceeds.

Locate a top-tier listing agent to sell your house fast. Do you want to sell your house fast and take most of your home equity with you? Choose a top-notch listing agent. Illinois Star, Ltd. REALTORS® is a great place to start.

Short sale.

Selling your house fast with a real estate agent will cost you relatively little money, and it’s mostly payable when the house sells, and the deal closes. In other words, it’s a win-win situation for the home seller and the real estate broker. All commissions in the real estate business are negotiable; there are no set standards or customary fees. Commissions are variable, and they depend on the level of service, just like in any other industry. If the agreed commission is 5% of the house sale price, it is usually shared between the buyer’s brokerage and the seller’s brokerage. Please note that iBuyers generally charge the home seller a 7% to 20% service fee.

Always work with a REALTOR® who has your best interests at heart.