The decision to sell your home is a significant one. Now that you’re ready to sell, your next step would be to consider the best method to sell your home. Most homeowners are used to buying and selling homes on MLS so their first thought is to call a real estate agent. There is, however, another alternative that is more common than most people think, which is selling to a professional real estate investor like SCAL Real Estate LLC.
There are a number of reasons why some people reach out to investors instead of real estate agents but ultimately it all comes down to numbers. Understanding the differences in the costs between selling your Portland house with an agent versus to an investor will be helpful in determining which route would make the most sense for your situation.
Selling with the Help of an Agent –
These days, sellers have a range of options to sell a home. The most traditional way is with the help of a licensed local real estate agent. You spruce up your house and make sure it looks amazing, have the agent list it on the MLS and schedule showings, and hope that someone likes it enough that they will make an offer.
Real estate agents operate on a commission-based fee model. You can expect to pay a total of around 6% of the sales price in commission. As trained experts, reputable agents spend hours to help you get top dollar for your house and their services include marketing (on multiple listing services such as social media, printed ads and other venues), filling out paperworks, arranging for inspections and appraisals, helping to evaluate offers, and negotiating terms with the buyers’ agents. They perform a wide range of services from bringing a buyer to the door to ultimately ensuring the deal goes through closing smoothly.
On top of the realtor commission, there are additional costs that are commonly incurred such as repairs, staging, and closing costs. Let’s explore some of these costs.
Listing costs – it includes everything you must do to prepare to sell your Portland house with an agent. These listing costs could consist of simple cleaning so that it is in ready condition for showings, to significant updates to the home’s interior, appliances, or more. Often, an agent will recommend sellers to invest in renovations modernizing some features of the home to meet the demands of current technology. Other amenities they may suggest is space for two home offices or even the addition of a study area for school-aged children.
Repairs – any issues with the house will come out of pocket before closing. If the inspection revealed problems with your home that you were previously unaware of, you would also have to pay to complete these repairs. Otherwise, the lender will not approve the loan in many cases. Alternatively, you can expect the buyers to respond with their estimated costs for these repairs deducted from the offer. Avoiding this surprise can be achieved by hiring an inspector before listing.
Marketing and advertising – depending on the contract with your agent, you may be responsible for marketing costs for selling your Portland house. Discuss with your agent and have an outline of all of the steps that they will take towards selling the home (which can vary significantly by property). Staging expenses cover the cost to depersonalize the space to make your Portland house appealing to the largest pool of buyers. Buyers who tour the home can easily imagine themselves occupying a home free of personal items or a distinct personal taste in decor. You may also encounter storage costs to clear your home of excess personal belongings. Advertising costs include professional photography for the high-quality images buyers have come to expect as they search listings online. Professional drone pilots may be hired to take aerial photographs and/or video of a property to provide 360-degree virtual tours.
Holding costs – also known as carrying costs, they are expenses incurred during the time someone owns a property, namely mortgage, insurance, taxes, and utilities. Whether you are selling simply because you have to relocate, or you wanted to give up your property for cash, you will continue to carry the costs for the duration you have listed your Portland house with an agent. The longer the listing lingers on the market, the quicker the holding costs add up. The strain of this situation can cause restless nights and extreme stress for your entire family.
Selling to a Real Estate Investor–
An investor has none of these expenses! And because investors pay cash and buy your house as-is in most cases, you can close fast, sometimes in a matter of days.
With little closing time to worry about, it is easy to see how selling your Portland house to a professional investor like SCAL Real Estate LLC saves you time and money. There is no risk or obligation in requesting an offer. It is free and we will provide transparent pricing. Ready to sell your Portland house and skip the hassle of listing, showing, and waiting around? Call SCAL Real Estate LLC at (971) 238-2255 or send us a message today!