If you’re thinking of selling your house this summer, it only makes sense to connect with people who want to and can help you. Some will be agents and some will be investors. This article gives you three ways to tell real estate agents and investors apart in Washington DC, Maryland and Virginia. You’ll also get information about why you might choose to work with one versus the other.
When you’re considering selling your house, you might talk with many people who offer to help you sell. But not everyone who offers can help in the same way. The methods used by real estate agents differ from real estate investors. When you have questions about who is who, here are three ways to tell real estate agents and investors apart in the Washington DC metro area.
List vs Buy
The easiest way to tell agents from investors is to ask what they are going to do with your house. Do they want to list it or buy it? A real estate agent will list your house on the MLS, also known as the multiple listing service, and then market it to find a buyer.
You’ll have to make all necessary repairs, possibly repaint and landscape and then keep the house in showplace condition at all times. Potential buyers will traipse through your home, possibly for months, before someone decides to buy it. And then you’ll endure price negotiations, the home inspection, and waiting for the buyers’ financing to come through.
An investor on the other hand, doesn’t list your house. The investor is a buyer who will buy your house from you directly. (That’s what Express Homebuyers does. We’re buyers and we buy houses for cash in Washington DC, Virginia and Maryland.) An investor buys your house in as-is condition, so you don’t have to do any cleaning, repairing or updating. It’s a much easier process overall.
Timeline To Sell
The next way to tell an agent from an investor is to ask about their timeline to buy. An agent won’t have a specific answer for you because they have to find a buyer first and who knows how long that might take. In many cases, you might wait three to twelve months, during which time you’re working to keep your house immaculately clean while agents show your house to numerous potential buyers.
An investor, however, will know exactly how long it will take to sell your house because they’re the ones buying it. The exact timeline usually depends only on you and how quickly you want to sell. You pick the exact closing date that works for your schedule.
Commission vs No Commission
This factor is crucial! An agent makes their money when they find a buyer, You pay them a commission on the sale price of the house. Typically that fee is around 6%; for example, $6,000 on a $100,000 house. You’ll also pay closing costs and may be responsible for paying for repairs on issues discovered by the home inspector.
An investor, however, isn’t listing your house so you don’t pay any commissions or fees. As mentioned earlier, an investor buys your home as-is. He or she makes money by either renting the house to a tenant or fixing up the house and selling it.
If you’ve read this article and want to see what real estate investment company can pay for your house, get in touch with us. Fill out the form on this page or pick up the phone and call us today at (877) 804-5252.