After making the decision to sell your house in Twin Cities, Minnesota, you may be contemplating whether or not to engage the services of a real estate agent. Factors to consider include the cost of commissions, the amount of time it may take to receive an offer, the duration of the closing process, necessary repairs, and the appearance of the house during the day when you’re not present. Additionally, you’ll need to determine if you’re available to show your property on short notice, such as within 24 hours or less.
Showings
As you contemplate selling your house in Twin Cities, Minnesota, you may find yourself wondering whether to hire a real estate agent. One of the key considerations is the commission fee they charge. Are you willing to pay a substantial commission for their services? Another important factor is the amount of time you’re prepared to wait for a potential buyer to make an offer, as well as the duration it takes to close the deal. Additionally, you may need to make repairs or updates to your property before putting it on the market, which can be costly and time-consuming. It’s also crucial to consider the appearance of your home, particularly when you’re leaving for work in the morning. Would it be presentable and attractive to potential buyers? Finally, you need to be available to show your house with little notice, possibly within 24 hours or less. These are all vital factors to weigh up when deciding whether or not to engage a real estate agent.
Commissions and Fees
By opting not to use a real estate agent, you can save a considerable amount of money in commissions. Agents typically receive a percentage of the sale price, with the standard rate being around 3% per side. So if you sold your house for $400,000, you would need to pay $24,000 in commissions alone, in addition to other seller’s closing fees and possible transaction fees to the closing agent and real estate office. However, working with real estate investors is an alternative to consider, as they usually do not charge a commission or transaction fees, and if they do, it is often significantly lower than traditional agents. Ultimately, the choice of whether or not to use an agent depends on your priorities and preferences, but it’s worth considering the potential savings by forgoing their services.
Waiting Time Frame
Real estate agents have access to the multiple listing service, or MLS, which allows your property to be found in searches for certain features of a property. This may sound great, but how long will it sit on the market? How fast will you receive offers? Real estate investors and other direct house buyers typically have a network of other house buyers, so if your property doesn’t fit their portfolio, then it may fit one of their colleagues’ portfolios. Either way, this means very limited waiting time for an offer. Also, when you sell your house in Minnesota, Minnesota directly to house buyers, they will typically close faster than traditional buyers, and usually pay full in cash. Traditional house purchases usually require qualifications from banks, mortgage underwriting time, property inspection and the buyer may not end up qualifying in the end.
Inspections & Repairs
Professional house buyers in Minnesota will usually purchase houses as-is. As a seller, this means you do not have to worry about repairs before closing or any other additional expenses you were not planning on. There are some companies that do not require inspections which makes it a truly as-is transaction. When you use a real estate agent, the buyer’s agent will almost always order an inspection of the property. If they find something wrong with the property structure, they may require you to fix it out of pocket before the property closes.
There are a lot of situations to think about when you are ready to sell your house. We can help you decide which avenue would be best for you.