It’s not every day that you sell a house, so unless you’re in the real estate industry, this is unfamiliar territory. Because of the unfamiliarity or the many steps involved in selling a home, traditionally, homeowners have sought the help of realtors to navigate the process. But in recent years, an increasing number of homeowners have discovered the benefits of working with direct buyers. In this blog, we’ll explore the top reasons homeowners choose direct buyers over realtors, straight from real-life examples and the process used by We Buy Houses Cincinnati.
Speed of Sale
- Direct Buyer: The main reason homeowners choose direct buyers is the quickness of the selling process. It’s common for direct buyers, like We Buy Houses Cincinnati, to make an offer within 24 hours and can even close in as little as seven days. This quickness can provide a solution for anyone facing urgent financial situations such as avoiding foreclosure.
- Realtor: On the other hand, selling through a realtor can take a long time. There is no guarantee that you can close in a month. A typical selling process with a realtor involves listing the property, staging it, hosting open houses, and waiting for offers. All these can take several months. Even after getting an offer, you have to wait another 30–60 days for the closing process to take place.
Real-Life Example
Mary owned a home in Linwood, Cincinnati. She needed to relocate for a job opportunity on short notice. By choosing We Buy Houses Cincinnati, she was able to sell her home in less than two weeks, avoiding the stress and uncertainty of a prolonged sale process.
Convenience
- Direct Buyer: Direct buyers purchase homes in their current condition. Yes, you read it, right? They buy homes as they are, so homeowners don’t need to invest time or money into repairs or renovations.
- Realtor: In contrast, selling through a realtor often requires homeowners to make necessary repairs and upgrades to meet inspection requirements. Also, with a real estate agent, you’re usually aiming for traditional home buyers who want a ready-to-move-in home. Fixing and upgrading your home can be both time-consuming and costly.
Real-Life Example
John inherited a property in Cincinnati that was in bad shape. Instead of spending thousands on renovations, he sold it directly to We Buy Houses Cincinnati, saving time and money while quickly resolving his situation.
Certainty of Sale
- Direct Buyer: You get a higher percentage of a successful home sale when working with direct buyers. Most of them have the funds readily available to purchase homes, minimizing the risk of deals falling through due to financing issues.
- Realtor: With a realtor, the sale depends on the buyer securing a mortgage, which unfortunately can sometimes fall through at the last minute, leaving the seller back at square one.
Real-Life Example
Sarah received multiple offers on her home through her realtor. This sounded good until two of these offers fell through due to financing issues. Frustrated with the uncertainty, she turned to We Buy Houses Cincinnati and secured a cash offer. She was glad she found out about them and saved her a significant amount of time.
Cost Savings
- Direct Buyer: You might be surprised to hear that selling to a direct buyer often results in significant cost savings for homeowners. Direct buyers usually cover all closing costs, and there are no realtor commissions or fees, which can be as high as 6% of the sale price.
- Realtor: Selling through a realtor involves paying a commission, as well as potentially covering some closing costs. Additionally, the longer the home sits on the market, the more carrying costs the homeowner incurs, such as mortgage payments, utilities, and maintenance.
Real-Life Example
At first, Dave was hesitant to sell to a direct buyer. However, when he calculated the total costs involved in selling his home with a realtor, he realized he would lose a substantial amount to commissions and fees. In the end, by choosing We Buy Houses Cincinnati, he avoided these extra costs and walked away with more money in his pocket.
Flexibility and Personalized Service
- Direct Buyer: Direct buyers are more flexible when it comes to schedules. Plus, they offer a more personalized service, often providing creative and more appropriate solutions to unique situations.
- Realtor: Realtors follow a more standardized process, which might not accommodate every homeowner’s specific needs or timelines.
Real-Life Example
Lisa was in the middle of a messy divorce, so she needed a quick, uncomplicated sale. The team at We Buy Houses Cincinnati understood her situation. She was satisfied with the support they provided that a traditional sale through a realtor could not match.
Conclusion
While realtors have long been the traditional choice for selling homes, the rise of direct buyers offers homeowners a strong alternative. Speed, convenience, certainty of sale, cost savings, and personalized service are the top reasons why many homeowners, like those in Cincinnati, are choosing direct buyers over realtors. By considering your unique situation and needs, you can determine the best path to take when selling your home.