If you think of selling, you’ll likely connect with people who want to help. Some will be agents, and some will be investors. Check out this blog post to read about three ways to tell real estate agents and investors apart in Philadelphia and help you understand why you might want to work with one versus the other…
Are you thinking about selling your house? You might be approached by many different people who offer to help you sell. You can always keep a close eye on the trends in real estate in America. You do not need to be an expert to know what is going on in your market. In Philadelphia, things have gotten crazy the past few years on the number of people contacting homeowners to sell their homes. Suppose you are getting contacted through phone calls, text messages, postcards, and many other ways. Then you understand the market is intense, and there is a strong need for motivated sellers in the city. There is a constant battle between real estate agents and cash home buyers in Philadelphia. But not everyone who offers to help will help in the same way. Some are real estate agents, others are real estate investors, and they will help you in different ways. Finding out who has your best intrest can be crucial when selling your home. Here are three ways to tell real estate agents and investors apart in Philadelphia.
Ways To Tell Real Estate Agents And Investors Apart In Philadelphia: List Versus Buy
The easiest way to tell agents from investors is to ask what they will do with your house – list it or buy it. A real estate agent will list your home on a listing service, and they will try to find a buyer. They might need to show it to several people in order to find one buyer. They will also protect your interest in getting the home sold to the right potential buyer. It is their duty to uphold truth and honesty. Most agents will work endlessly to get your home sold through marketing tactics they have picked up over time.
On the other hand, an investor isn’t going to list your house – the investor is a buyer, and they will buy your home from you directly. They will purchase your home from you with no contingencies or no need for funding. It is an all-cash offer on your home. Giving people the actual ability to “sell my house as-is in Pennsylvania “(That is what we do at Buying Property 215 – we are buyers, and we buy houses in Philadelphia. If you want to sell your home, click here and enter your information to find out how much we can pay).
Ways To Tell Real Estate Agents And Investors Apart In Philadelphia: Timeline To Sell
The following way to tell an agent apart from an investor is to ask about their timeline to buy. An agent did not know because they had to find the buyer first. In many cases, they might be looking at 3-12 months, during which they will show the house to multiple potential buyers. You do guarantee that you will get a qualified buyer this way. The people that buy homes on the market are usually young couples looking to buy their first home. It will allow you to get the most money possible for your home if your home is not being purchased by someone looking to get your home for as cheap as possible.
An investor, though, will know precisely how long it will take to buy your house since they are the ones who will buy it. They will have an exact timeline (which could depend on you and how quickly you want to sell). Though they usually look for homes that need work, they also purchase properties in excellent condition. They will typically buy those homes and use them for rental income. It never hurts to contact a real estate investor to buy your house. At least have them make an offer on your property. They usually work with agents to determine the actual value of homes. Agents have access to every property sold within miles of your home. That is helping them choose the true value of your home so they can make a legitimate offer.
Ways To Tell Real Estate Agents And Investors Apart In Philadelphia: Commission Versus No Commission
This one is crucial! An agent makes their money when they find a buyer, and then you have to pay them a commission on the house (which could be somewhere around 6% of the sale price… or $6,000 on a $100,000 home).
An investor, however, isn’t listing your house, so there aren’t any commissions. That’s because an investor will make money by renting the home to a tenant or fixing up the house and selling it… so they make their money differently. It can be a massive advantage to a homeowner to sell their home using this method. If you are looking to profit as much as you can for the sale of your home, then not paying almost 10% of the value of your home can be very beneficial. After using a real estate agent, you are responsible for the 6% commission, but you are also responsible for transfer tax, closing cost, staging and prep cost, inspection, and repairs. It will all add a considerable chunk of change when selling your home.
There are other ways to tell an agent or investor apart. The best thing to do is just ask… they will say to you! When selling with either an agent or an investor, the best thing is to ask many questions. They will have no problem answering any of them. Many homeowners are afraid to find out the truth about how the process works by selling their home using either. But the truth is by not asking questions; you put yourself in jeopardy of making a big mistake and potentially missing out on thousands of dollars.