5 Options for Selling Your Home

This post is sponsored by Homie.

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Today I want to go over with you 5 options I've researched for selling your home. Maybe you are getting ready to sell your home, maybe it's something you are considering doing a few years down the road. I want to help you know some options besides any that might first come to mind.

1. Realtor 

This is the most common and well-known way to sell a home. This is for people who like and need that hand-holding and guidance. 

Pros: 

You don't have to worry about what step comes next in the process if you have a good agent.

They have access to the MLS (Multiple Listing System).

They will negotiate on your behalf. 

Cons: 

Having to pay a commission which is roughly 6% and deducted from your profit.

Depending on how the market is doing, it could take a while for your home to sell.

Dealing with showings and open houses.

2. Yourself

I wonder how many people think, "I know a lot of people. I can network and get my house sold lickity split!" While you may know a lot of people, getting the right eyes on your home can still be tricky. If you are not in a rush to sell your home, this could be a good way to go or if you have been through the process of selling a home in the past.

Pros: 

You can avoid paying real estate commissions!

Lots of websites you can post your home on like Zillow, Facebook groups and Craigslist.

Good for someone who is detail-oriented.

Cons: 

Little to no support if you have questions about anything. Be prepared to do a lot of research.

Figure out how to price your home, you don't want to be above or undervalue to prospective buyers.

Statistics have shown that homes sold by owners sell for less than through a realtor. 

3. iBuyer

First, what is an iBuyer? It's a company that comes in and can give you instant cash for your home - sight unseen. This option could be good for you if you need cash fast and want little stress and hassle. If you need to sell in days or weeks vs. months.

Pros:
Gets your cash fast and the iBuyer handles everything with little stress and hassle for you.

No worries about funding not coming through or buyers not getting loans or being able to close.

You get to pick your closing date.

Cons:

You'll be selling your home at a discount - below market value pricing.

There is no negotiating on the price or repair costs.

There is no one to represent your best interest in the transaction.

4. Auction

I never considered buying or selling my current or future home at an auction but apparently, it's something some people do!

Pros:

No negotiating, enjoy a easy sales process. 

Sell your property within a defined period of time.

No inspection or appraisal, the buyer can't ask for extras (work or expenses) done to the property.

Cons:

Limited control over the final sale price.

Your home needs to have at least 25% equity to see any cash from the sale.

The number of buyers is limited and are usually people looking for a great deal.

5.   Homie

Who is Homie? We've talked some about who they are and what they do, these past couple months on the blog. But in case you need a refresher or this is your first time to my blog, Homie is a way to buy and sell your home without needing a realtor. You get the same support of selling through a realtor coupled with the cost savings of for sale by owner.

Pros:

Only pay $199 to list your home and start working with Homie and $1299 when your home sells.

You have a professional, local licensed agent that offers the same services as a traditional realtor. 

Agents don't work off commissions but bonuses are based on customer reviews.

Cons:
Homie is currently only available in Utah and Arizona but is planning to expand to more states.

Some areas in Utah and Arizona are outside of Homie’s MLS coverage.

You need to be available to show your home when people schedule it. (no lockbox for the buyer's agent).

If Homie isn't in your state, send an email to them and let them know you want to work with them.