Everyone wants to sell their properties quickly while getting the most they can, but they need to know if using a real estate agent in Philadelphia or a Cash Home Buyer in Philadelphia is your best option.
Getting the best price is the most challenging issue because people don’t want to sell for less. On average, 57 days pass until a home sells when it is put on the market.
However, consider your options if you need to sell your house quickly. We’ll look at some of the variables that affect the sale of your Philadelphia property and how using a real estate agent or selling to a cash home buyer will make the process quick and straightforward.
Why Hire A Real Estate Agent In Philadelphia?
Working with a real estate agent in Philadelphia could help you get the best price while selling your home. Sellers should know the holding costs and other expenses they will incur while their home is on the market because property sales typically take some time.
A real estate agent is a good choice for those who wish to sell their items for the most money possible. This means they would be OK with waiting, staging, or showing the house while repairs are being made. Also, people trading properties through real estate agents should be ready to fork over roughly 6% in agent commissions and an additional 2% in closing costs in exchange for the higher sale price.
What Makes A Cash Home Buyer A Good Choice?
Working with a direct home buyer would probably be your best option if you need to sell your house quickly or before a specific date. You can swiftly liquidate your house without incurring any charges if you sell it directly to a cash home buyer. Commissions, listing fees, or closing costs won’t be your responsibility. So, a local property buyer should be your first choice if you want a convenient and cost-free sale.
Comparison Between Real Estate Agents and Cash Home Buyers
Speed and House Showcasing
It seems reasonable that you need to understand how the realtor operates if you plan to sell your house through them. You meet with the realtor, describe your home to him, and he then works to connect you with potential purchasers. Potential purchasers will inspect the house, and if they like it, they can agree.
But for a cash house buyer, it takes far less. This is mainly because a cash home buyer won’t hunt for a buyer. A cash buyer will only inspect your property and make you a fair offer. You can sell your house if you both reach a deal in a week.
Selling directly to a cash home buyer in Philadelphia saves you the stress of bugging calls that ask you for a house tour. You don’t have to worry about cleaning your house every morning or meeting with any buyer’s agent before leaving for work. Most importantly, you can handle customers.
Fees and Commissions
Real estate agents in Philadelphia are paid by obtaining commissions from real estate deals. The average commission cut between the agent and broker is 6%, according to The Pennsylvania Real Estate Commission (PREC). Look at this circumstance – the price of a property is $400,000; therefore, the 6% commission is split between the buying and selling agents, so your agent will receive 3% of the sales price, or $12,000 from the property, which does not include the customary seller’s closing costs and any additional transaction fees that might apply to the closing realtor and the real estate agencies.
Even though a broker and an agent have agreed on a commission split, the broker must follow PREC regulations. Furthermore, these flexible rates may decrease between 5% and 6% commission.
However, cash home buyers will not receive a commission or payment. They buy your house off you, and that’s all. No fees or closing costs! If you choose not to work with a real estate agent in Philadelphia, neither the buyer’s agent nor the seller’s agent will receive any commission.
Inspection & Repairs
A cash home buyer in Philadelphia frequently makes as-is purchases of homes. You don’t have to worry about making any house repairs or incurring any unforeseen costs as a seller before closing, which makes the deal as-is. Still, a real estate agent regrettably won’t have it that way. An agent would insist that you repair all the broken items in your home so you can sell your house quickly. The buyer’s agent will always request a property review.
The multiple listing service, also known as MLS, is accessible to real estate agents and enables your property to be found in searches for particular property qualities. Although it may seem fantastic, how long will your property remain on the market? How quickly will you get offers?
On the other hand, cash home buyers close more quickly than regular buyers and frequently pay in total cash when you sell your house to them directly. Standard home acquisitions typically include bank approval, mortgage underwriting time, and a property inspection, all of which the intending buyer may need help to afford. This and other reasons are why the sales of properties are delayed when listed with real estate agents.
In the end, each selling strategy has its advantages and disadvantages. Take your time with the value of your Philadelphia property drops. So before choosing a selling strategy, home sellers in Philadelphia should do the math for their particular property and ask themselves a couple of questions.
Based on your intentions, think about how soon you want to sell the residence, what price you’re prepared to accept for the sale of your Philadelphia home, and whether you’re ready to visit the real estate agent’s office and house showcase. When you have the answer to these questions, choose between a Real Estate Agent in Philadelphia and a Cash Home Buyer Philadelphia.
However, you can contact us to make selling your home simple and enjoyable. We are renowned for our openness, honesty, and integrity, as well as for providing the most incredible offer to our sellers. Talk to us at any time if you have inquiries about the sale of your property.