The internet has changed the way we buy and sell just about everything. Real estate transactions, in theory, are no different. But should you really trust the sale of your biggest asset to the web? Let's examine what it means to sell online -- and you can make the best decision for your property.
IBuyer Programs
The first idea that comes to find when you're thinking about selling a house online is likely some type of iBuyer program. What exactly does this mean?
Well, this in the online equivalent of those flyers you've probably seen stapled to telephone poles saying "We buy your house CASH!"
IBuyer programs look up your address, use some comparative data to assess the value of your property, then give you immediate cash offers to purchase it, sight unseen. It's a great way to sell a house fast, and it's definitely hassle free. But that's as far as the upside goes.
A cash buyer is only positive if they're willing to pay a fair price. The majority of iBuyer programs only offer discount offers -- well below the potential of your home's sale price on the open market. That's the crux of their business model; finding desperate home sellers and lowballing an offer. Then once they've acquired a "distressed asset" they'll turn around and markup the price for more money.
So only if selling your house quickly is more important than any financial goals, an iBuyer program might make sense for you.
FSBO Online Listings
Another common method to selling your house online is via FSBO (For Sale By Owner). This entails posting your home listing on various websites in order to find home buyers yourself.
Usually, a home seller will post their listing in a number of different places in order to secure the most visibility. Social media platforms like Facebook and Instagram (the latter, especially) can be useful in publicizing your property; if you have professional photos of your home then image-centric platforms can help showcase your place online. Online classified websites (Craigslist etc), where property listings are common, may also help you find prospective buyers. Additionally, you may create a dedicated website for your listing. When you're selling exclusively online, you have to overcome the disadvantages of not being able to do a traditional sale, like open houses. A sleek webpage of your property may allow you to offer virtual tours. Of course, you'll need to implement SEO (search engine optimization) tricks or pay to boost your advertisement in order to be seen.
Selling FSBO online takes a lot of time and effort to market your property. You will certainly save money by executing your home sale without a listing agent, but the truth is it will probably sell for a lower price overall. So your net take home might not be any better than using a full service agent. This method may make sense for you if time is not of the essence, and you're curious about what type of offers you might be able to induce yourself before hiring an agent.
Online/Offline Hybrid: The Best of Both Worlds
There's a third type of method to sell your home online, that offers arguably the most promise to home sellers. Sites that allow you to find, shop, and contact local real estate agents in your area allow you to leverage the power of the internet along with the full suite of traditional. resources.
Having access to a top agent brings a host of benefits. They already have pipelines to potential buyers; they can schedule showings and open houses; they can negotiate effectively with a buyer's agent. Yes, using them means you'll have to pay for their services, but it usually isn't a large percentage and they'll actually help you sell for the highest possible price, meaning you get the most money at the end of the day.
You can find a handful of websites that host agent directories, but there's only one that prioritizes the home seller experience. TrueParity is an online platform where the best local agents actually compete for your listing, by offering the best terms for a homeowner. Other sites allow agents to self-promote themselves to display the top of the list, or fail to showcase the performance data that matters to most home sellers.
We recommend using a platform like TrueParity to find a real estate agent if you want to sell your house for the highest possible price, and make the most money in your home sale.
Do you want an actual, competitive cash offer for your home? Post your home on TrueParity and see what the best agents in your neighborhood can do for you.
