Selling A House With A Realtor Vs Cash Home Buyer: Which Is Better?

selling house with realtor vs cash home buyer which is better real estate agent

Putting your home up for sale requires knowing where to get a better, if not the best, deal. Listing your property with the help of a realtor, or offering it up for sale to a cash home buyer, has its advantages and downsides. 

Much of your home selling decision will hinge on your current situation and the urgency to get a fair value for your property. This article discusses the benefits and drawbacks of offering your asset to these two types of home buyers, allowing you to make smarter selling decisions. 

Cash Home Buyer Versus Realtor-Brokered Buyer 

If you live in Norfolk, for example, and you want to sell your house quickly for cold hard cash, then you can acquire the services of Norfolk cash home buyers. These professionals are engaged in the business of purchasing properties for a profit. They prefer to transact with sellers who need to sell their home as soon as possible for personal reasons such as an impending divorce, an out-of-town- or overseas relocation, and cash emergencies. 

Realtor-brokered buyers, meanwhile, often pay a down payment for the home and apply for a loan mortgage to pay off the remaining balance. You'd have to wait until their lender approves the loan and gives you cash. 

When Is It Better To Sell To A Cash Buyer? 

Selling your home to a cash buyer is better in the following circumstances: 

1. You Want To Sell ASAP 

Transacting with professional home buyers takes only two weeks or less, making it perfect for sellers who want to sell their home as soon as possible without much stress. Comparatively, a realtor-backed home selling process could take a month or so. 

2. You Have A Financial Emergency 

Selling your home even with the help of a realtor can take more than a month. In some cases, a home sale won’t even happen, especially if your property is priced steeply and located outside a prime location. 

Offering your home to cash buyers allows you to solve your financial burden quickly after closing the sale. 

3. Your Property Needs Extensive Repairs 

If your home is in bad shape and you can’t or won’t be able to have it repaired, it’s best to leave the rehabilitation to professional buyers. These professionals are willing to buy our home as-is. 

When selling your home in a conventional manner, you’ll likely be asked by the realtor to fix everything to attract potential buyers, significantly reducing your net income in the process. 

4. You Want To Keep All The Sales Proceeds 

Hiring a realtor means you need to pay commission fees worth anywhere from three to five percent of the total sales price. If you need cash for a new home and can’t afford to pay your realtor a few hundred to a few thousand dollars, it’s best to offer your property to a professional home cash buyer. 

5. You Don’t Want Delays 

Apart from the home inspections, appraisals, documentation, negotiation processes, mortgage approvals, selling a house is not always smooth sailing. For instance, most home buyers don’t get approved during their first mortgage application. Additionally, they may change their mind and back out on the sale, leading to further delays. 

home sale real estate agent vs selling house yourself cash buyer

Why Is A Realtor-Backed Transaction Better? 

With a Realtor, you may not be able to sell your home quickly, but you’re guaranteed to get the best price and terms for your home. Without time constraints, however, you’ll enjoy the following benefits of an experienced real estate agent: 

1. Assessing Your Home’s Fair Market Value 

You won’t be able to sell your home without setting a fair market value price. Realtors are experts in this field. They’re updated with current market movements and know after an inspection how much your asset could fetch in the market. 

2. Better Market Access 

Realtors have great access to the real estate market through the Multiple Listing Service or MLS. Seeking their help means tapping into this privilege, and your property will be offered to other brokers whose clients are looking for a home like yours. Having better real estate market access means knowing where and how to list your asset in increase the chances of being seen and eventually, being sold. 

3. Familiarity With The Home Selling Process 

Traditional home selling requires time and patience. Fortunately, a realtor can walk you through the process and help you secure the best deal possible. The home selling process requires a lot of stages; the negotiation process being one of the lengthiest periods. In this stage, your buyer will try to negotiate the deal and ask for a lower price. Documentations and home inspections take a great deal of time too. 

Final Word On Home Sales

Selling your house through a Realtor or cash home buyer are both legitimate ways to dispose of real property. However, each has its own advantages and disadvantages. If you’re in a hurry to sell, you may want to think twice about asking help from a real estate professional and offer your property to professional cash buyers instead.

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