Do You Have an Ugly House? Top 3 Reasons to Call a Realtor ASAP

By
Real Estate Agent with KW Coastal Bend

Have you ever seen those signs that say, "We Buy Ugly Houses?"   Have you actually found yourself tempted to call them?     If so, I will assume that you are concerned that your house will not sell because it needs a lot of work.   

 

You find yourself to be very tempted to call the number on those signs.   You might even be tempted to see if you can sell your house to one of those companies, such as Zillow, that says that can make a cash offer to buy your house without even seeing it first.  

You might be unsure of exactly how the real estate sales process works in the area where your house is located.    I understand that a company that can make selling a house fast and painless, has a certain appeal.   

 

However, I am going to suggest that you call at least one experienced real estate agent to come out and look at your house.   Despite what you might read in the media and online, the vast majority of Realtor's are good, trusty worthy,  hard working people.  that would be more than willing to help you sell your house for the best price in the time frame that you are hoping for.   

 

3 reasons why you should ask a Realtor to come out and look at your house even if it is ugly. 

 

1.  The Realtor is not going to charge you anything to come out and look at your house.  You will get a free consultation.  This free consultation can potentially save you a LOT of money and/or heart aches.   

 

2.  There is always a chance that the house is not as ugly as you think it is.   

Sometimes when we worry about stuff, we start feeling like things are worse than they are.    The Realtor may be able to make some suggestions that would make your house look better.  

Realtor is also going to be able to give you a good idea of how he/she thinks your house would sell if you fixed it up a little bit or if you sold it as is.   A Realtor can explain how the real estate sells process works in your area.  

 

 

3.  If your house really does have some issues, a qualified real estate agent can help you decide the best way to proceed.     

At this point in time, there are currently two major groups of buyers competing for homes.  There can be cash buyers in both groups.    

1)  People that want to live in the home.   

2.) Investors   

In many places across the US, to include the Colorado Springs area, it is not uncommon for a well priced home to get multiple offers.     This makes it an extremely tough environment for investors.   As result, the investors are trying to reach you, the homeowner, BEFORE you list the house with a real estate agent and put it on the MLS.   

There are currently a BUNCH of  investors out there.   They range from small, new, investors to the large investors with millions of dollars to spend and everything in between.  There is a relatively new group that are often referred to as iBuyers.  They seem to be very well funded companies that try to use technology to get to make offers to sellers before others get a chance.  For example,  Zillow and Opendoor are two of the best know iBuyers at the moment.

If you call a real estate agent for a consultation, that person can help you decide if you want to solicit offers from one or more institutional investor buyers. Or, maybe it would be better to sell it by putting it on the MLS.  

Some I-Buyer offers may be so low or have such high convenience fees they charge  that the decision may not require a lot thought on your part.     Other times, it might be helpful if a Realtor can prepare a net sheet comparison chart .

A Realtor can help you try to find iBuyers or other investors if that is what you really want.   Just know that selllers with fix it uppers typically sell for considerably less money in exchange for the convenience of a fast cash sale.   The investor needs to get the house cheap enough that they can can fix it and sell it for a profit that is big enough for them to earn a living.  

If you choose to consider an ibuyer or other investor that insists on contracts their attorney prepared, I would also highly recommend that you plan on having a real estate attorney look a the paperwork PRIOR to signing anything.   

Conclusion:   Please remember that as a seller, you currently have numerous options to sell you home even if it is a ugly house.   A Realtor can help you get the most money possible whether it is from the investor types or regular home buyers.   

Be sure to ask lots of questions.    

 

 

 

Comments (30)

Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

congratulations on your feature - you make some great points - I am always so sad when people go for the ugly house buyers or the developers rather than going on the straight market

Mar 07, 2021 06:34 PM
Sondra Meyer:

Thank you Lisa.  I was suprised to see that it was featured.  


At the moment, I am trying to be objective and understand what the iBuyer market is and why it seems to be growing so fast.   


 

Mar 08, 2021 11:04 AM
Ginger Harper
Coldwell Banker Sea Coast Advantage~ Ginger Harper Real Estate Team - Southport, NC
Your Southport~Oak Island Agent~Brunswick County!

I like this post.  Good job..

 

Mar 07, 2021 07:04 PM
Sondra Meyer:

Thank you Ginger.  

Mar 08, 2021 11:05 AM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker/REALTOR® - Kalispell, MT
Helping your Montana dreams take root

These are all great points. It costs nothing to at least talk to a realtor. Having them look at the home, provide information about the market, data points, and next steps is still free. Then homeowners can decide how to proceed.

Mar 08, 2021 05:15 AM
Sondra Meyer:

As you said, "It costs nothing to at least talk to a realtor."   


They also need to make sure that they will be able to find a home in their price range if they are about to sell the one they are in.   

Mar 08, 2021 11:06 AM
Joe Jackson
Keller Williams Capital Partners Realty - Columbus, OH
Clintonville and Central Ohio Real Estate Expert

Great info! Thanks for sharing this!

Mar 08, 2021 05:53 AM
Sondra Meyer:

Thank you Joe! 

Mar 08, 2021 11:07 AM
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

Hi Sondra,
This is a great topic. I do wish sellers would consult with a REALTOR® before committing to an ibuyer contract. They might be shocked at the possibilities.

Mar 08, 2021 11:31 AM
Andrea Bedard
Thompson Company, REALTORS® 240.593.2860 - Silver Spring, MD
Fluent in Real Estate & German, M.A. ABR ASP CIPS

In this market, chances are even the ugliest house will sell. The seller would be doing himself a huge disservice by taking the first iBuyer (or whatever "convenient" pop-up service) offer that comes along. While I can see a certain amount of convenience, I am also under the impression that it can come with a hefty price tag. 

Thank you Sondra for taking the time to pen your thoughts, encouraging sellers who may think that they have an ugly house to seek qualified/professional advice (also). 

Mar 08, 2021 06:19 PM
Dorte Engel
RE/MAX Leading Edge - Bowie, MD
ABC - Annapolis, Bowie, Crofton & rest of Maryland

Dear Sondra,

Even your local Realtor might buy your house for 80 cents on the dollar, if you are dead set on going that route. However, since they know the local community, they might also put the remaining 20 cents and then some in your pocket by knowing how to market your home to its best advantage.

Mar 08, 2021 09:16 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Sondra it has been a while since we connected so glad the Feature Ferries found this post:)) with that said in the hood where I live fixers are now going for abou a million dollars:)Endre

Mar 08, 2021 09:34 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I can’t believe Why and how people ever want to do this without a realtp. Seems a little bit suspect unless you’re really business savvy

Mar 08, 2021 11:29 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

Endre Barath, Jr. You sound like you have your head on straight I know exactly what you mean

Mar 08, 2021 11:31 PM
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

It all depends on what ugly is, doesn't it? Regardless, for everything real estate, it pays to call a Realtor. 

Mar 09, 2021 12:22 AM
Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

Thanks for sharing!

This the single biggest reason a customer to call a Realtor.

The Realtor is not going to charge you anything to come out and look at your house.  You will get a free consultation.  This free consultation can potentially save you a LOT of money and/or heart aches

Mar 09, 2021 04:01 AM
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good morning Sondra Meyer: - yes this is great advice especially in this sellers market.

Mar 09, 2021 07:27 AM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

You nailed this Sondra Meyer: Catchy title intor to a helpful, neutral discussion that lays out sellers' options and potential pitfalls.

Mar 09, 2021 06:36 PM
Mike Cooper, Broker VA,WV, MD
Cornerstone Business Group Inc - Winchester, VA
Your Neighborhood Real Estate Sales Pro

Sondra, I'm getting ready to list one of those right now. The homeowner thought it was much worse than it is. In this case, our sister company, Cornerstone Real Estate Services, is going in correcting a lot of the issues before photos are taken and the client will ultimately pay an addition 1% in commission so the repairs can be paid at closing. No out of pocket expenses and the home will garner more money in the sale. Win-win.

Mar 10, 2021 06:53 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

So true!  This is a great time to sell an ugly house, but hiring a pro is the best way to sell it!  Another part of what I do, running a energy efficiency retrofit company, includes visiting homes that owners want to lower their energy bills.  A buyer is in the middle of buying an acre with 2 buildings on it.  One of the buildings has a tenant in it.  The building is a former garage that can't be retrofitted to include AC or heat!  Talk about a nightmare.  If only he had used a realtor to buy this property! 

Mar 10, 2021 09:29 AM
Mary Hutchison, SRES, ABR
Better Homes and Gardens Real Estate-Kansas City Homes - Kansas City, MO
Experienced Agent in Kansas City Metro area

Thanks for writing this post and I hope a lot of sellers see it. I've heard of a couple of really bad deals--for the seller- as a result of trying to sell through a company like this

Mar 11, 2021 11:08 AM
Shannon Jones
The Shannon Jones Team - Long Beach, CA
Long Beach CA Real Estate

Great advice! I am always trying to remind people that even when you add in a commission fee, Realtors still help you earn more of a profit!

Mar 12, 2021 10:03 AM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

I didn't realize that you posted this asking if we have an ugly house" This is pretty humorous

Mar 12, 2021 02:52 PM
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Prospective home sellers will be in very good hands when they seek your professional real estate advice and assistance.

Mar 15, 2021 04:27 AM