Thursday, July 30, 2020 | noon
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Your home is your most valuable asset, so exploring all of your options before selling is necessary to garner the best price. Here is a look at common ways to sell, and the pros and cons to consider.
Homie
Real estate company Homie offers sellers the ability to use a full-service agent, with all the associated benefits but without the commission costs. The company reports that on average, they’re able to save sellers $10,000 per transaction by offering a flat listing fee compared with commission-based model.
Middleman buying companies
Companies such as Opendoor and Offerpad make cash offers directly to sellers, bypassing most of the other mainstays of home listing. These types of companies may be helpful for people who want to sell quickly, but you’ll still be paying a higher commission and the offer may not be as competitive as an offer you might get when listing on the market.
Traditional agents
Using a traditional agent is what most people think of when they first envision the selling the process. There are advantages to selling with a traditional agent—but saving money is typically not one of them. While most agents will help you market, stage and manage the home-selling process, it comes at the high cost of commission. Depending on the terms of the offer, sellers may be responsible for both their agent’s commission as well as the buying agent’s commission—typical agent commissions are 6%. Having an agent’s touch may command a higher offer, but you may not actually net more after commission costs.
Discount brokerages
There are many types of discount brokerages, some with flat-fee listing policies, low-fee listing or reduced conditional fees. Discount brokerages save money, but many do so at the expense of service and marketing.
