Selling a house in the past was usually only done through a standard real estate agent through an mls listing system. A few people here and there would sell their homes by owner bypassing the real estate agent but this was a small minority. In this post we discuss the changes that have occurred when people go to sell their properties in 2021 and how the options have grown for homeowners who are exploring how to sell my house fast in Texas.
Real Estate Market Changes
Over the last 10 years the real estate market has seen a shift from hyper local activity to broad multi market activity by investors and institutions. This has occurred with the improved tools available online to evaluate property value, property condition and run comparables. The increased use of algorithms in the real estate market has brought many institutional investors from the stock market looking to increase their return on investments by utilizing the data algorithms provide to buy rentals or flip houses. These changes have contributed to the prolonged seller's market the U.S. has been in the last few years and even longer in some markets like Texas.
4 Ways To Sell A House in 2021
With the technology changes being incorporated into the real estate market, ways to sell a house are also changing. We look at those changes below and give you the insight to decide which option is best for you.
1) Sell Your Property With A Discount Brokerage
This option allows you to still list your house on mls with an agent for a discounted real estate commission. Usually the agent will do minimal work including setting up the listing in mls and the showing structure. The homeowner will sometimes deal with the questions or handle the negotiations that come from the buyer's agents during the listing process. If your house is in a very competitive area and minimal work needs to be done, this could be a great option.
2) Sell Your Direct To An Investor
This option is becoming a popular option with some big companies joining this area of real estate including Zillow and Open Door. When you sell direct to an investor you typically sell for less than what you can get on the retail market but you avoid showings, inspections, appraisals and all the negotiating that goes along with the retail transaction. If you have an out dated home, need major repairs or need to close quickly, this can be a great option for you. We Buy Houses Richardson, are one good example of a company who specializes in buying homes for cash and closing quickly.
3) FSBO Zillow
The options to sell a house on your own have increased recently which allows you more visibility than ever before. Listing your house on zillow which has a tremendous amount of traffic could be a great option to reduce your real estate commission fee but you will still most likely deal with a buyer's agent. A buyer's agent looking for a house for their client may still require a commission on the sale for bringing a buyer which is usually 3% of the sale price. If you are not trained in contracts or negotiating, their is a chance the buyer's agent could cause you to net less with title fees, survey fees, etc being paid by you the seller instead of the other way around.
4) Sell Your House With Owner Financing
If your existing home is in an area that would make it a great rental property, you could consider selling your house to a buyer where you finance the purchase for that buyer. The paperwork and manage of owner finance loans has improved the past few years and this could be a great way to earn cash flow every month while still selling the house. Most of the time an owner financed purchase requires a larger down payment, higher interest rate and sometimes a higher sales price than a traditional sale because the owner is taking on more risk. This is a great option if your current home is paid off and you don't need the proceeds to move into your next home.
Selling Option Summary
In conclusion, no matter which direction you choose when looking to sell your house, make sure to explore all your options to see what works best for you. The options are increasing and the days of just working with a standard real estate agent are almost gone. The agents who are going to survive the changing landscape will be able to cross over into the investor world to give home sellers multiple options to sell a property. We at Home Buying Guys do this better than anyone in the DFW market. You can check out how we help home owners We Buy Houses Burleson TX as we buy houses Bedford TX as well as San Antonio and Oklahoma the past 5 years.