American homeowners are overwhelmingly confident they know how to sell their homes. But in reality, they might be overlooking a slew of great options for selling, according to a new study.
A whopping 94% of homeowners said they feel good about their ability to sell their home, according to a recent Sold.com survey of 1,000 homeowners.
However, more than half of those respondents admitted that aside from two well-known and highly publicized options — using a real estate agent, or using the for-sale-by-owner (FSBO) process — they don’t understand other, often overlooked options they could use to sell a home.
Such options include selling:
- To real estate investment companies.
- Through discount/flat-fee brokers.
- Via online technology or auction platforms.
In fact, homeowners spend relatively little time examining their selling options, with 58% of former sellers admitting they spent less than three hours investigating both the method of sale and the choice of a real estate agent.
In a company announcement, Matt Woods, president of Sold.com, says:
“The stark reality is consumers are choosing options that don’t necessarily align with their needs and are taking unnecessary risks with one of the largest financial transactions of their lives.”
How to sell your home for the best price
Before you sell your home, it’s important to take more than just a few hours to make key decisions that could have major financial ramifications.
For example, if you’re going to use a real estate agent, finding the right agent can be an invaluable help in getting top dollar when you sell. As we report in “11 Tips for Pricing Your Home So It Sells for Top Dollar“:
“Agents do have an incentive to price a home lower in order to sell it, make a commission and move on to the next sale.
Agents with integrity can balance their needs with yours and can explain which strategies work best in your market. It’s critical to find an agent you can trust.”
The right real estate agent also can give you valuable insights into boosting your home’s curb appeal, which will go a long way toward getting your property sold for the right price.
Of course, you need to strike a balance between upgrading your home enough to attract buyers and not wasting money on renovations that will not pay off. To avoid the latter, check out “The 10 Worst Home Renovations for Your Money.”
So were you aware of the three lesser-known ways to sell a home? Share with us by commenting below or on the Money Talks News Facebook page.