There has been a large increase in the amount of online brokerages offering to buy your home instantly. This offers the attractive benefit of having an instant offer and skipping open houses and showings. However, what is the true cost of convenience for these enticing online offers?
Agreeing to an instant offer puts you at the mercy of the company and what they think your home is worth. This leaves little-to-no room for discussion for price and repair costs.
When listing your home for sale with Mark Steward Team, we will discuss the list price with you and give suggestions based on a Cost Market Analysis (CMA). We want to ensure that your home is priced at an amount that makes you happy and also at a competitive amount that will bring showings and buyers. Once an offer is placed, we will then negotiate the repairs with the buyers agent.
Instead of telling you how much the repairs will cost, we will shop around to our network of local companies to get you the best service at a fair cost. This will ensure that you get the best deal while also satisfying your buyers.
What is the true cost?
As per North Carolina real estate law, all commissions earned by brokerages are negotiable. Therefore, a client can negotiate the commission paid at any time before signing the listing agreement.
It is very important that you do your research as to what you are being charged for an instant offer on your home. We have seen more than one company offering to buy homes but also charging around a 10% “service charge.” Although there are no set commissions, a 10% commission would be considered quite high compared to a traditional realtors commission.
If you are considering using one of these sites that will buy your home, please read the fine print of their offer. If you are okay with the terms, great! However, we see clients get a higher sales price and keep more of their equity when they use the traditional listing process.
Competition is good!
At the end of they day, competition for the price of your home is a good thing! We are fortunate enough to have a generally competitive market here in Raleigh. This means that multiple offer situations and offers above asking price are not uncommon. When you avoid offering your home for sale to motivated buyers, you miss out on getting great offers!