After making the decision to sell your home, the next step is to determine the best sales method for your unique circumstances and the condition of your home. Although contacting a real estate agent is likely the first option that comes to mind, many homeowners may be deterred by the high commission fees associated with this approach. As a result, selling independently, or as a For Sale By Owner (FSBO), may be an alternative option worth considering.
However, before jumping into the process of selling your house on your own in Memphis, it’s important to be aware of three critical things. First, you should have a solid understanding of the local real estate market, including current market conditions and trends, in order to set an appropriate price for your home. Second, you’ll need to be prepared to take on the responsibilities typically handled by a real estate agent, such as marketing and showing the property, negotiating with potential buyers, and handling the paperwork involved in closing the sale. Finally, you should be aware of the potential risks and challenges of selling on your own, such as dealing with unqualified buyers, handling legal issues, and managing the emotional aspects of the selling process.
By considering these important factors and taking the time to prepare accordingly, you can make an informed decision about whether selling your house independently is the best choice for you.
FSBO Final Sales Prices
It’s important to keep in mind that selling your house on your own in Memphis as a For Sale By Owner (FSBO) may not always result in the most profitable outcome. According to data, FSBO properties tend to sell for approximately 26 percent less than those listed with an agent, which means that trying to save money on commission fees might not necessarily be worth the potential loss of profit.
However, if you’re looking to save both time and money while still earning a fair price for your property, one viable option is to sell directly to a local professional home buyer like Memphis Home Buyers. Unlike traditional real estate agents, we never charge commissions or tack on hidden fees that can reduce your profits at closing. Our team of professional home buyers will provide you with a clear breakdown of how much you could expect to earn by listing your property versus what you can earn through a direct sale. Armed with this knowledge, you can make an informed decision about the best way to sell your home that suits your specific circumstances.
Buyer Pool
It’s important to be aware of another crucial fact before attempting to sell your house on your own in Memphis. According to the National Association of Realtors, roughly 90 percent of homebuyers rely on real estate agents to find a new property, which means that if you choose to sell your house independently, you’ll potentially miss out on a significant portion of potential buyers. In fact, only about 5 percent of buyers choose to purchase directly from the seller, so waiting for a qualified buyer can be a daunting prospect that may prolong the selling process.
Fortunately, working with a professional home buyer such as Memphis Home Buyers can provide a more reliable and efficient alternative. With our team, you’ll have a guaranteed closing date typically within weeks, rather than waiting for an indefinite period to find a buyer. And if you’re not quite ready to move so soon, we can work with you to schedule the most convenient closing day for your upcoming move. By choosing to work with us, you can avoid the uncertainty and potential frustration that comes with waiting for a qualified buyer to arrive and instead ensure a smoother and more predictable selling experience.
Out-Of-Pocket Expenses Pre-Sale
A crucial thing you should know before selling your house on your own in Memphis is that the same industry standards for listings must be utilized with an FSBO for your listing to stand out against the competition. Real estate agents heavily employ technology in their marketing tools to meet the digital online marketplace’s demands, including professional high-quality digital photographers and 360-degree videographers. They also employ the sales strategy of staging; these marketing strategies all come at the seller’s expense. You could skip the marketing, prep work, showings, and even the repairs, saving yourself even more time, effort, and out-of-pocket costs by selling directly to a professional home buyer like those at Memphis Home Buyers; we buy homes as-is for cash.
The third option to sell your home is through a direct sale to a professional home buyer at Memphis Home Buyers, which is an essential thing you should know before selling your house on your own in Memphis. If you have concerns about the process or believe there are hurdles standing in the way of selling your home, talk to one of the professional home buyers at Memphis Home Buyers today, with no obligation and find out how we can help you. Call Memphis Home Buyers at (901) 828-8419.