Los Angeles’ real estate market is currently a seller’s market. This means that if you have property within the area that you’ve been looking to sell for some time, now is the best time to sell if you want to maximize its value and get high offers from a competitive real estate market.
Most homeowner may look towards getting a real estate agent in Los Angeles to sell their home. However, did you know that this isn’t the only way to sell your home in the area? There are different ways to go about selling your home, each with its own advantages that could suit you depending on your situation. Here are the different options you have to sell your home.
Hire A Real Estate Agent
Hiring a real estate agent to sell your home in Los Angeles is the most popular method as it can minimize the work you have to do. A real estate agent can create an effective marketing strategy in your home, use their network of agents and brokers to find buyers, and handle all the paperwork and closing processes.
This option comes with several drawbacks, however. First, real estate agents work on commission, which can reach up to six percent of your home’s selling price. You could get an offer higher than your selling price from this competitive market, but that gets eaten up by commission. And second, selling on the Los Angeles real estate market can take an average of 78 days: 43 days to receive offers, and then 35 days to close the deal. Your agent’s strategy and how long you’re willing to wait for the best offer can affect how long it can take to sell.
For Sale By Owner (FSBO)
If you choose to skip the real estate agent and sell your home in Los Angeles as an FBSO, you could get several benefits as long as you’re willing to do most of the work on your own. When you list your property on the market as an FBSO, you’re selling without an agent or broker. This means you’re responsible for doing the research, staging, advertising, property showing, negotiations, and closing documentation.
The biggest advantage here is that you can save thousands of dollars in commission fees. If your home is worth around the average price of a house in Los Angeles at $902,989, you can save up to $54,000 in commission fees. However, the drawback here is that you’re not working with a professional who’ll be doing the entire process for you – including the legal risks of completing a sale.
Sell To A Professional Home Buyer
For those who want to sell their property as quick as possible while minimizing the fees of selling a home, looking for a professional homebuyer in Los Angeles is the best way to go. You do not have to list your property on the real estate market, so there’s no need for repairs, renovation, or staging. Professional homebuyers buy homes as-is, so simply contact a cash homebuyer in Los Angeles and wait up to 72 hours for a fair cash offer.
After you accept, you can expect the closing and the transfer of money to finish in as little as 14 days. Professional homebuyers pay for houses in California with cash, so there’s no need to wait for loan approval like you would with other buyers on the real estate market.
Weighing Out Your Options
Not all homeowners looking to sell their properties are in the same situation, so consider which of these three methods works best for you.
For those who prefer convenience and don’t mind losing a bit of the revenue from the sale to go to commissions on top of the other fees of selling your home, hire a real estate agent to sell your home. For those who want to skip the commissions and are willing to do all the legwork, documentation, and legal requirements of selling their home, list your property on your own as an FBSO sale.
But if you want a fast and convenient way of selling your home while still getting a fair price on your property, contact Inhouse Offer, the professional homebuying company that can give you the best price for your as-is home in 72 hours or less.
Get in touch with Inhouse Offer today to learn more.