How to Sell Your House: Understanding the Options

August 24, 2022

When the time comes to sell your home, you should look into multiple options before making your decision.

The time has come for you to sell your house.

Chances are that you’re either looking for a real estate agent or already have one in mind. While selling with a real estate agent can be a great option, it really depends on your situation. Use this as a guide to determine what makes sense for you when the time comes to sell your home.

Houses in market-ready condition

Selling with a traditional real estate agent can make a lot of sense. They have access to the Multiple Listing Service (MLS), a comprehensive platform that helps agents market your property to potential homebuyers in your area. There is one caveat, though.

Is your home in market-ready condition?

If the answer is yes, you should probably consider working with a real estate agent. To stand out to potential homeowners on the MLS, your house usually needs to be in move-in condition. In the event that your house needs some work to be ready for the MLS, then it also could still be worth it.

Can you still sell your house on the MLS if it needs work?

Of course, this just comes down to personal opinion and weighing some pros and cons. Market-ready may mean a full list of renovations and decluttering your basement, but it could also mean doing some paint touch-ups depending on the condition of your home. Some homeowners see the opportunity to make more money by getting their house into market-ready condition. Here are some questions to ask yourself to determine if it’s worth it:

  • Repairs can make your home more valuable, but are you willing and able to take on the work?
  • How much will these repairs cost?
  • Do you know how to get the right permits
  • Do you have the time to manage a renovation?
  • When do you want to sell your home?

Depending on your responses to the questions above, it should be clear whether you should stick with a real estate agent or consider alternatives.

Houses that need work

If your house does not have a modern up to date feel or if it needs repairs, it could take a long time to sell. Houses that sit on the market for a long time are typically sold at a steep discount. In situations where you want to sell as-is, you should consider selling off-market.

Wholesalers

When a property is not market-ready, some homeowners opt to work with wholesalers. They serve as middlemen between you and a property investor who will ultimately acquire your home after a wholesaler “assigns” it to them. In some circumstances, they make a living by negotiating steep discounts on homes, so the less they offer you, the bigger their profit margin is. Although this isn’t always the case, there is reason to be wary.

iBuyers

iBuyers are typically companies who buy homes directly from owners in a speedy fashion. Though there are some good value propositions, it’s also important to be aware of potential flaws.

  • There is one take-it-or-leave-it offer that a seller can either accept or reject, but oftentimes there’s no room for negotiation.
  • Since there is only one offer from a given iBuyer, there is no competition to drive up price.
  • Depending on the company, there are also potentially fees that an owner must pay when selling to an iBuyer.

Sundae

A new option for homeowners is Sundae’s Marketplace, where you can sell your home as-is. If you work with us, you don’t need to do any work to your house and our team is with you every step of the way to make selling a seamless process.

We have seen too many people not get all the value out of their home when they sell, and we want to change that. Sundae is a real estate broker dedicated to getting both homeowners and investors a better deal.

We are committed to help you get one of the best offers on our marketplace with complete transparency throughout the process. Additionally, Sundae doesn’t profit from any fees from sellers. It’s our commitment to help you get the best price after closing, so what you see is what you get when it’s all said and done. Sundae helps people understand their options and puts you in the driver’s seat.

Do what’s best for you

One last thing to remember: whatever situation you are facing, you should do what’s best for you. That means focusing on what you can control, whether it’s using a real estate agent, wholesaler, or Sundae’s Marketplace. Find a trustworthy team that provides you with the best potential outcome for your situation.

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Kyle Spearin

Kyle is Sundae's Real Estate Editor. As both an investor and content marketing professional, Kyle combines his passion for real estate investing and educational background with his love of helping others. His experience with real estate tech companies, including contributing to BiggerPockets Pro, gives him insight into markets across the United States.