Avoid the MLS When Selling Your Philadelphia House
If you own real estate, you have probably heard of the MLS. It is a members-only website that real estate agents join in the area; it’s a monthly fee but offers multiple real estate services to sell and purchase property. They have a local level, a state level, and a national level. Joining this association designates the agent as a realtor. Some individuals decide to utilize an agent because MLS services provide the most significant profit on a property sale, MLS targets buyers agents in multiple states. Typically, out-of-town buyers will pay slightly more for properties than local buyers. The traditional route of listing a home on MLS will not work for every seller; some homeowners require a quick sale or own a home that demands too many costly repairs, so selling a house directly to a real estate investor may be the most appropriate route! This blog post explains six reasons to avoid MLS when selling your home!
Picking the Wrong Agent
Reason #6: Avoid the MLS when selling your Philadelphia house is picking the wrong agent. There are so many agents to choose from; how are you supposed to know who to choose? Do you prefer the person with the most ads? Or do you go with the guy your friend recommended? He just sold a house last week.
Picking the wrong agent may cause more issues than initially anticipated and choosing an inaccurate realtor may cost the seller time and money. Not all agents are equivalent, and some are more qualified than others. A proper agent understands the home’s value and how to price the property to maximize profit while selling the house quicker than the nation’s average time. It’s always important to qualify the agent, request proof of recently sold properties & ensure the agent is familiar with the area. Check out the agent’s customer reviews and research information on the real estate company where the agent’s license is hung.
Time On the Market
Reason #5: Avoid the MLS when selling your Philadelphia house is the time on the market. The MLS, or multiple listing service, keeps track of how many days it’s been since you first listed it on the market. If your house ends up being on the market for more than 60 days, this is not a good sign for buyers. It may indicate that your home is not as desirable as other properties or that there might be something wrong with it. There may not be anything wrong with your property, but this might stick in the back of the mind of potential buyers. Maybe you haven’t had a complete price offer and are holding out. Whatever the reason, the time on the market counter may work against you.
The majority of the time, when a property is on the market for multiple months, the seller will be forced to make a price reduction or take the property off-market and contact a local cash home buyer. The asking price is the most critical factor in a house sitting on the market for too long or the ability to sell the property instantly. The proper realtor will price the home correctly to enhance profit and ensure a fast closing.
Highly Qualified Buyers
Reason #4 to avoid the MLS when selling your Philadelphia house is highly qualified buyers. Sure, the MLS may bring you buyers, but a large portion of them will have to depend on financing from a bank, and some of them may not have even been pre-qualified yet. Your house for sale can be considered a pocket listing that will reach the desks of many highly qualified buyers, most of which can purchase 100% in cash.
When a buyer uses financing from the bank, the process will require inspections; if these inspections present any issues, it may cause obstacles to completing the sale, usually requiring repairs. These inspections can destroy the deal; this can be concerning if your house is not in perfect condition. If your home needs costly repairs, the best option will be to sell the house in as-is condition to a reputable real estate investor such as “Buying Property 215.” Our company purchases property in any condition while funding our deals, and we do not require inspections, repairs, or financing contingencies.
Reason #3 to avoid the MLS when selling your Philadelphia house is commission fees. When you list your home on the market, there are commission fees expected from the selling and buying agents. This is usually 3% to 6% of the final sale price, which can add up to a large amount of money!
The six percent in commissions does not account for the capital gains tax or the closing costs. The closing costs typically account for three percent of the sales, so the seller hands out roughly ten percent of their proceeds before paying taxes. If you are using an agent without using the MLS, you might be able to set a flat fee for less than standard commission fees. If you decide the best option will be selling to a home investor, the seller will be responsible for NO COMMISSIONS, NO FEES, & NO CLOSING COSTS. Many sellers desire the opportunity to sell their homes off-market since it requires no fees or repairs!
Invasion of Privacy
Reason #2 to avoid the MLS when selling your Philadelphia house is an invasion of privacy. If your home is listed on the MLS, you will be expected to make your house available for showings. This means living in a constant state of clean and organized 24/7 until you move out. Most showings are completed during the evening or on weekends; this process can be highly stressful for individuals with busy schedules, children, or pets. You may also be asked to leave your home on concise notice for a showing, if possible, sometimes immediately, although you usually can schedule showings 24 hours in advance. Some sellers find it’s easier if they move out of the home when they put their house on the market because of the hassle of showings, but would you want to be responsible for two house payments before you can guarantee the sale of your house? When selling a home, all these factors must be considered; many stipulations go along with the drawn-out process of selling a house with a licensed realtor. Selling to an investor limits the showings; typically, investors will request one walkthrough while conducting no inspections. Selling a home off the market is simple, allowing the seller more privacy while the ability to sell property fast.
Signs In the Yard
Reason #1 to avoid the MLS when selling your Philadelphia house is a sign in your yard. The yard sign is a standard part of a real estate agent advertising your home, but this also may mean that you may have people knocking on your door unexpectedly because they saw the sign in your yard. This is a considerable inconvenience, mainly because people may have stopped without an agent present, and who knows if they are qualified buyers?
If you decide to sell a house to local home investors, you can prevent the hassle of walkthroughs, repairs, inspections, and commissions. It’s easy to locate qualified cash buyers; simply Google specific keywords like “sell my house,” and the google search engine will compile the most accurate and capable companies. It’s vital to review each home selling option to see what is best suited to solve your home selling needs. Buying Property 215 has years of experience purchasing homes, so we have seen every obstacle and navigated our way to closing on the property. We provide recently sold similar comps to explain our offer when we present a cash offer. Buying Property 215 covers all closing costs and fees while providing a closing within three weeks. The Better Business Bureau accredits our family-owned company with an A+ rating and 5-star google reviews! Contact us today to receive the highest cash offer on your home!