When you’re ready to sell your house in Knoxville, you have two main choices: you can either work with a real estate agent or sell directly to a local real estate investor. Both options can help you sell your house, but they work in very different ways. Let’s break it down into simple terms, so you can understand what each option really means for you and your house.
1. Time It Takes to Sell
- Selling With a Real Estate Agent:
When you list your house with a real estate agent, they will help you put it on the market, show it to buyers, and hope to find someone who wants to buy it. This process can take a few months—sometimes even longer. The reason it takes time is because you have to wait for buyers to come along and for everything (like inspections and paperwork) to go smoothly. - Selling to a Local Investor:
When you sell your house to a local investor, the process is much faster. Investors buy houses directly with their own money. This means you can often sell your house in just a week or two. No waiting around for buyers or worrying if they will change their minds.
2. Repairs and Fixing Your House
- Selling With a Real Estate Agent:
If you sell with an agent, most buyers will want your house to be in good condition. If there are things wrong with it (like broken windows, leaky roofs, or old plumbing), they might ask you to fix these problems before they buy the house. Fixing a house can take time and money. - Selling to a Local Investor:
When you sell to a local investor, they will usually buy your house as-is. This means you don’t have to fix anything. Whether your house needs small or big repairs, the investor will handle it after they buy it. This can save you a lot of time, effort, and money.
3. How Much Money You Get
- Selling With a Real Estate Agent:
If you sell through an agent, you might get more money for your house because they will try to sell it for a higher price. However, you will also have to pay commissions to the agent, which is usually about 5-6% of the sale price. For example, if your house sells for $200,000, you could end up paying $12,000 to the agent. There are also other fees for things like repairs and closing costs. - Selling to a Local Investor:
When you sell to a local investor, you might get less money for your house than you would if you sold it with an agent. But the good news is that there are no commissions or fees to pay. Investors also cover all the closing costs. What they offer is usually what you walk away with. Plus, you don’t have to spend any money on repairs.
4. How Long You Have to Wait for the Money
- Selling With a Real Estate Agent:
After you accept an offer from a buyer, it can take 30 to 60 days for everything to be finalized and for you to get your money. The buyer usually has to get a loan from the bank, and this can take some time. - Selling to a Local Investor:
When you sell to an investor, they pay with cash. This means you can get your money much faster, sometimes within a few days after agreeing on the price. This is great if you need money quickly or if you want to move out fast.
5. How Much Work You Have to Do
- Selling With a Real Estate Agent:
When you list your house with an agent, you’ll need to do a lot of work to prepare your home for showings. This includes cleaning, fixing things, and making sure your house looks nice for potential buyers. You may also need to leave your home every time there’s a showing, which can be inconvenient. - Selling to a Local Investor:
Selling to an investor is usually much easier because you don’t have to worry about showings, cleaning, or fixing anything. You just agree on a price and pick a closing date, and the investor takes care of the rest. It’s simple and requires less effort on your part.
6. Certainty of the Sale
- Selling With a Real Estate Agent:
When you list with an agent, there’s no guarantee that your house will sell quickly or at all. Even if someone makes an offer, the sale could fall through if they can’t get approved for a loan or change their mind after an inspection. This can be frustrating if you’re in a hurry to sell. - Selling to a Local Investor:
With a local investor, there’s much more certainty. Investors are ready to buy your house with cash, so you don’t have to worry about the deal falling through because of financing or other issues. Once you agree on the price, the sale is almost always guaranteed to go through.
Conclusion: Which Option Is Right for You?
Deciding whether to sell your Knoxville house with a real estate agent or to a local investor depends on your situation.
- If you want to get the most money and are willing to wait, fix up the house, and go through showings, selling with an agent might be the better option.
- If you need to sell quickly, want to avoid repairs, and don’t want to deal with all the steps involved in listing your home, selling to a local investor is probably the better choice.
Both options have their pros and cons, but it’s important to choose what works best for your needs.
If you’re considering selling your house fast for cash and want to learn more about how working with a local investor can benefit you, feel free to contact us today. We can help you figure out the best option for your situation.