If you have made the decision to sell your house in Columbus, Ohio, you may be contemplating whether or not to enlist the services of a real estate agent. Considerations such as the potential cost of large commissions, the length of time you are willing to wait for an offer, the duration of the closing process, the repairs that may need to be made, the appearance of your house in the morning, and your availability to show your house with short notice may factor into your decision-making process.
Commissions and Fees
When you work with a real estate agent, they are compensated based on a percentage of your house’s sale price. However, if you opt not to use an agent, you can avoid paying commissions to either a buyer’s or seller’s agent, which can result in significant savings for you. For example, a standard commission rate is typically 3% per side. If your house sells for $400,000, you would need to pay $24,000 in commissions alone, as well as other customary closing fees and possible transaction fees to the closing agent and the real estate agent’s office. In contrast, real estate investors generally do not charge high commission or transaction fees, if they charge any at all.
Waiting Time Frame
Real estate agents can use the multiple listing service (MLS) to expose your property to potential buyers looking for specific features, but this doesn’t guarantee a quick sale. However, real estate investors and direct home buyers have a large network of buyers, so if your property isn’t right for them, they may know someone else who is interested. This often results in shorter waiting times for offers. In addition, selling to home buyers in Columbus, Ohio typically involves a faster and simpler closing process, as they usually pay in full cash and don’t require extensive bank qualifications, mortgage underwriting time, or property inspections.
Inspections & Repairs
If you sell your house to professional house buyers in Ohio, you can sell it as-is without the need to worry about repairs or additional expenses. Some companies don’t even require inspections, making it a true as-is transaction. However, if you use a real estate agent, the buyer’s agent may order an inspection and require you to fix any structural issues at your own expense before the sale can close.
Showings
If you opt for a professional house buyer in Columbus, Ohio, you can avoid the emotional roller coaster that often comes with selling a house. No more frustrating interruptions during dinner with requests for showings. You won’t have to maintain a spotless house every day just in case a showing is scheduled while you’re away. You won’t have to deal with buyer’s agents or their clients, who may ask you inappropriate questions. Additionally, you won’t have to negotiate with buyers about which furniture to leave or take.
There are many factors to consider when selling a house, and we can help you determine the best approach for your situation.