Suppose you have one of the best Washington DC luxury homes. However, you want to sell it and buy a new one that meets your current needs.
If this were the case years ago, you would give up on selling your property. For starters, Washington DC luxury estates are expensive. So, it would be challenging to get an ideal offer.
Some clients might lowball you or bargain their way down a few million, leaving you with less money to buy your next house. Fortunately, the market has changed.
Today, there are several ways to sell a house at a fair price. Using these methods guarantees the best prices and quick sales. Here are the top five best ways to sell a house in today’s market.
1. Go the Good Old Way, Hire an Agent
Sometimes, the old tips still work. Hiring a real estate agent is the oldest method of selling a house. This method is still applicable as it works like magic.
Statistics show that 90 percent of homes are sold through real estate agents. You can contact a real estate company to provide an agent to work with or find an independent person with a good success rate at selling houses.
An agent earns on a commission basis. In other words, their salary is a percentage of the final sales price. Suppose a house costs $200,000 while the agent’s commission is 5 percent. The agent would earn $10,000.
Real estate agents are experienced and bring much value to the table. They can help you evaluate your house and the market. The agents also sit with you through negotiations and see your deals through.
You can even sit out of proceedings and let your agent and buyer’s agents work on the details. Usually, you have to relay your needs. For example, if the minimum you can take from the sale is $200,000, your agents ensure not to go below your expectations.
Working with an agent has many advantages. For example, agents know potential buyers and marketing tools. They can help you get a buyer sooner than expected.
So, if you want to make the best sale, lack real estate knowledge, lack the connections to buyers, or need help to sell your house, go the old-fashioned way; hire an agent. The only downside is that you will part ways with a small percentage of your sales price.
2. Sell on iBuyer
This is one of the latest inventions and a convenient way to sell a house. With this method’s efficiency, more homeowners will likely take this route in the future.
It involves finding an online company to buy your house. This means you have to fill in details about your house, share photos, and indicate your asking price. Usually, you will get an offer after a few days or hours, depending on the details you provided.
Once someone likes your house, you can choose a closing date and collect your money. Suppose you have Washington DC Luxury Estates. If you are looking for a quick way to sell your properties, consider iBuyer.
If you have no time to work with an agent or show your house, you can take a few pictures and give a detailed description of your property. You will be amazed at the number of buyers making their offers.
3. Pull Your Sales Pants and Sell It Yourself
Around seven percent of homeowners sell their own houses. Do you think you can do it? Doing this yourself will take some confidence, market knowledge, and patience.
The disadvantage of this sales method is that you work alone. Your resources are limited and might take longer to sell.
However, it is time-efficient because you can schedule when to show the house and control other proceedings. Unfortunately, you will not have marketing tools or listing services. But, you can adopt different marketing strategies, including social media and For Sale By Owner (FSBO)- based websites such as Zillow.
Before you take this road, ensure you are 100 percent familiar with the selling process. Moreover, you must be confident; otherwise, the buyer’s agent might bargain his way into buying cheaply.
Some people prefer to sell their houses to save on costs. But, when you think about hiring an attorney to help with contracts and negotiations, you will still spend some money.
4. Hire an Agent on a Discount or Flat-Fee Basis
This model is almost similar to hiring a real estate agent. The difference is that hiring an agent at a discount or a flat fee is cheaper, and you will not get full support.
Ideally, your agent can list your house. However, his help ends there. Any other assistance is more of a bonus.
You can get some assistance in negotiating and forming contracts. If you want to keep the agent’s commission, have some knowledge about the sales process, or want to do most of the work, you can go for this option.
5. Exchange Your Previous Property With a New Version
This is a common way to sell a house. Many people are relocating every year. So, it is easy to find someone that wants your home in exchange for theirs.
For example, if you have a Washington DC luxury home and want to move to Jersey, you can quickly find potential buyers. While you can find specific people to exchange homes with, working through a company is best.
For example, you can sell a house through a company. The same company will use the money to find you another home for the price you got for the last house.
This method is perfect as it protects you from two mortgages. Unfortunately, you might not get good profits.
Buy or Sell Your Washington DC Luxury Estate
Which method seems like the perfect way to sell your house? Hiring a real estate agent takes the crown. While it is the oldest way to sell a house, as we’ve previously mentioned, it works like magic.
At The DC Team at Long & Foster, we have over 25 years of experience buying and selling Washington DC luxury homes. You will get the best negotiators, prices, and smooth transactions. Call us at (301) 907-7600 for the best deals.