The Instant Offer. It seems to be a great marketing concept for some deep pocketed real estate firms. Basically, they provide the “Easy Button” and you get to sell your home with “no hassle.”
You hear the commercials, get their mailings and see their Facebook ad campaigns that tell you not to move on Christmas Eve or do any repairs, and to take control of the selling process. Want to sell quickly and have no hassles? Great! They have the answer. Right?
I’ve got to say, in 25 years of selling real estate, I’m pretty sure I have never had a closing on Christmas Eve. Sell quickly? How about going from contract to close in just four days? Yep, we’ve done it. We’ve also been through many real estate markets. Some have been “better” than others. The truth is, the market has been pretty good for sellers for a while now. Fortunately, it is also a pretty good time for buyers with the low interest rates! In my humble opinion, a traditional real estate agent can typically put more money in your pocket AND represent your best interest while doing so.
The Allure of the Instant Offer:
The big allure with the instant offer seems to be quick and easy. You know, instant gratification. These companies come in and offer to take the home off of your hands for a few bucks less than what you’d get on the open market. Selling your home at a discount apparently gives you the ability to pick your closing date and sell the home “as-is.” Of course, that discount could very well cost thousands of dollars. Here’s the rub: No one can force you to close on a day you don’t want to close on, and no one can force you to do repairs you might consider too much of an overhaul like foundation repair to your home that you do not want to do.
How about when they say “And you don’t even have to put it on the market!” Sure, that makes sense. Why would you want to make it available to the greatest number of qualified buyers, letting the market decide that your home is worth more than some institutional investor is willing to pay for it? Call me crazy, but my money is on the market and my money says it IS possible to sell without “a lot of hassles.”
For some, selling at a larger than necessary discount is worth it. Maybe they like giving away money as a hobby? For others, hiring someone to represent their best interest and doing some close comparisons might just help them make more money AND have a smooth transaction.
Remember, when you sell to these large corporations, you typically have no representation. I can assure you that they are very experienced in maximizing their bottom line. Make sure your bottom line is protected, as well!
And don’t be fooled by promises of no commissions. Fees for selling to many of these institutional investors tend to range from 6 -16% of the sales price of your home – far more than what you might pay to a really good real estate agent who will be happy to represent YOU!
Options are great. Here at the Phoenix Real Estate Guy, we want to remind you that your best option very well could be to hire us to sell your home. Don’t be fooled by these companies who try to make everything sound so easy. There’s typically a large and unnecessary price to pay for their services. They are institutional investors, they will never look out for YOUR best interest. Make sure to give us a try. We’re happy to help you sell your home quickly, and we’re confident that we can sell your home for more money than what they will offer you.
Please contact The Nick Bastian Team today at 602-803-6425 for a free, no obligation consultation.