“We’ll Buy Your House If We Can’t Sell It!” The Biggest Scam in Real Estate Marketing?

We buy houses in Virginia, Maryland, and Washington DC

You’ve seen it everywhere. On the signs along the road or in advertisements you find in your mailbox or hanging on your door: “We’ll Sell Your House in 60 Days or We’ll Buy It Ourselves!” “Guaranteed Sale – I’ll Sell Your Home Quick or Buy It Myself!” “Sell Your House in 90 Days Guaranteed!”

Is it real or just a scam?

The real estate agents who promise to sell your house within a certain amount of days do sell your home in the perscribed time. However, it’s all the fine print you have to worry about.

You must agree to many concessions, including many expensive upfront costs. In most of these “Guaranteed Sale” deals, you must agree to pay a high realtor commission, a home inspection, a professional home staging, a home warranty, and possibly other concessions. You also must agree to lower the sales price of your home after it’s been on the market for a certain period.

This “deal” is actually only a deal for the realtor, not you.

To sell your home so easily and quickly, you’ll have to agree to let the agent sell your house below market value. Because your home is below market value, it’s likely you’ll get a flood of offers. And, if your home still doesn’t sell, your realtor will purchase your home at an even lower price, stipulated in the agreement you signed, then resell it at market value, making the profit that you could’ve made with a more invested realtor! The most important thing to look for when trying to sell your house is a realtor who will be on your side, trying to get YOU the best deal!

“Guaranteed Sale” realtors are only looking for the best deal for themselves. Don’t fall for this real estate trick! We see this a lot in the Maryland location, Virginia location, and Washington DC location.

Pros and Cons of Selling Your House Yourself (FSBO)

fsbo for sale by owner in maryland, virginia, washington dc, baltimore

If you’re considering the sale of your house in Maryland, Virginia, Washington DC, or Baltimore, you have lots of questions. Selling your house is one of the largest financial transactions most people do in a lifetime, you want to make sure you make the right decisions and avoid unnecessary costs which eat into your profit. Perhaps you’ve even wondered if you really need an agent to sell your house; after all, you can easily meet potential buyers and show your home…but is that all there is?

Before you decide to try and sell your house without an agent, learn the pros and cons associated with the “go it alone” technique known as “for sale by owner”.

Pros of Selling Your Home as a FSBO

Save Money on Commissions

Selling your home as a FSBO (for sale by owner) will certainly save you the cost of commissions for the listing agent. While all commissions are negotiable, most range from 4-6% nationwide. Typically, half of the negotiated commission is then offered to the agent who finds the buyer. Most FSBO listings still sell to a buyer with their own agent, thus you save only half the cost of commission.

No Strangers in Your Home

By selling your home as a FSBO, you never need to worry about who’s in your home or with whom. You will arrange all showings yourself and will be present for the visits.

Control of the Process

By representing yourself in the transaction, you can control what is communicated to the other party. You control the negotiations at every stage of the process.

Cons of Selling Your Home as a FSBO

Pricing

While overpricing a listing is bad, underpricing the listing is worse. When you are not privy to the market analysis in the MLS (Multiple Listing Service), you do not have the most comprehensive data to use when pricing your home for sale.

Time

Arranging home showings takes time. Not only is it common for buyers and their agents to run late, or early, but you must be there to meet each party.

What You Don’t Know about Zillow

Sell my house fast in Maryland with Zillow

Zillow’s website is often the first place to be visited by people who want to sell their house fast for cash in Maryland. However, majority of these persons often feel disappointed with the results they get at the end of their search. Although the Zillow online marketplace is highly revered in the American real estate industry for its practical resources, it may not be the best place for you to sell if you’re planning to sell my house fast in Maryland and hassle-free. The majority of the information on the platform is not sufficient for you to make informed decisions.

If you’re planning to sell my house fast in Maryland in exchange for cash, here is a few reasons why you should not list your home on the Zillow website:

Incorrect Home Estimates: In case you don’t know yet, most of the home values you get from Zestimates are not accurate. This is so because a computer cannot actually determine the true value of a home since there are so many factors involved in determining it’s worth. Zillow doesn’t do field inspection to check out the details of each property. The computer algorithm only generates home values based on what has sold in the area, the square footage, and the number of bedrooms. The truth is that no two houses are the same. People often make changes to their homes which Zillow obviously won’t be aware of. These changes affect home values.

Unsolicited Communication: Once you enter your information into the Zillow database, expect your phone to start ringing with unwanted calls. Since your information will be shared with hundreds of agents, you’re going to spend hours attending to lots of annoying calls, texts, and emails from different peoples. In fact, these unwanted calls could last for months.

Inaccurate information: Many homes listed on Zillow may not be available for sale. This inaccurate information often pushes away potential buyers who have experienced false leads in the past.

Most people only visit Zillow to get rough estimates of the values of properties in a particular neighborhood. They do not intend to buy through the platform. If you’re looking to sell my home fast in Maryland, Zillow is not the right platform for you.

If you need instant cash for your home, you can always contact 8 Day Home Sale. We buy houses in Maryland for cash.

How to Sell Your Home without a Realtor

Sell my house fast Maryland for cash

The time has come. You have made all of the necessary upgrades, from the new granite countertop to the more visually appealing shower tile in the bathroom. You’ve planted some new flowers to maximize curb appeal, and that clutter that you once had in several rooms is now neatly stored away for another time and place. Now, it’s time to put your home up for sale on the market. Save your hard earned cash by not giving an up to 7 percent commission to real estate agents and their firms, giving you more funds to spend on your new house. Sell your home without a realtor! Here are some tips you can use when you put your home up on the market without having to go through a real-estate agency:

Set your sell price.

Do your research. See what other homes with your size, age and other specifications are going for in your area. Scour the Internet and local listing magazines to establish your price. It’s vital to be realistic during this step. If you ask for too much or too little, you could end up selling your home for less than its worth or waiting a long period of time for your home to sell. This is when you will also decide how you want to accept payments, whether it is direct cash, land agreement, loan, etc. You will also want to think about laws in your area and what you will do during the later negotiation phase of the process.

List your home on the MLS.

The Multiple Listing Service, or MLS, is an extensive guide to all real estate for sale in the United States. If you go through a real estate agency, a realtor will usually do this step for you; however, as an individual seller, you can pay a flat fee of $400 to list your home.

Get the word out about your house.

If no one knows your home is for sale, your research and listing will be in vain. Put up “For Sale” signs in the front yard, leave brochures in key locations within your area, place online ads on Craigslist and in your newspaper and more. Creating a website with your home’s description, photos and other information is also a good advertising tactic when selling your own home. Take some time to really think about what makes your home unique, and highlight those features on your website and other collateral materials.

Host an open house.

This can really work in your favor if it’s done correctly. Before hosting the open house, make sure your home is deeply cleaned, from the floors to ceiling. Scrub the kitchen counters and appliances, clean the bathroom grout, shampoo the carpets… anything you can think of. Make your home comfortable without adding too much of your personal touches. Keep your personal effects tucked away when hosting the open house. The open house is a perfect opportunity to advertise your home and its key features.

We’ll be writing more articles in the future about selling your home without a realtor. Remember, 8 Day Home Sale will buy your home directly without a realtor in 8 days or less.

Real Estate Agents Should be Chosen Wisely

Your home is more than the place you raised your family, it is also one of the largest investments you own.  When it is time to sell you deserve the best return possible, but is a real estate agent worth those huge commissions?  For the right one – yes!

So does that mean you need to pay 7% commissions to an agent?  Not if you pick carefully.  Commissions are negotiable, but sometimes lower fees can mean less service as well. Are they willing to accept a flat fee versus a commission?  Will they reduce their rate if you conduct your own open houses?

Treat hiring a real estate agent like any other job interview.  No matter what market you live in, there are lots of agents competing for your business.  Interview at least three or four as you would for any contractor.  Before you meet with them, review the quality of their current listings and call some owners from their recent sales. Review the time on market for their listings, and the percentage of selling price compared to the listing price.

All agents will offer some of the basic services, but what more will they do for you?  Have them describe their marketing plan.  How will they provide maximum exposure for your property?   They need to be more creative than simply listing on MLS.  Will they assist in staging your home? Do they use professional photographers?  How many websites, and other advertising mediums will they use?  How many open houses will they conduct? Will your home be a priority over their other listings?

The first item on a real estate agent’s agenda is the appraisal.  It is often tempting to sign on with the agent who promises you the highest listing price, but is their valuation realistic in your market?  Have them show you comparable listings and recent sales in your marketplace.  How knowledgeable are they about those listings?  Can they accurately compare the features of those homes versus yours?

The worst thing an agent can do for you is to overprice your house. In these instances, the house doesn’t sell, so you lower the price.  Now it has been on the market longer than desired and people will think either there is something wrong with your house, or you will be open to a lowball offer.  In this way overpricing may ultimately lead to a lower sale price!

Time spent in carefully selecting your agent will always be a good investment.