If you've ever searched, "How do I sell my house online?" This article's for you.
51% of home buyers found the home they purchased on the internet. As for the other 49%-- it's spread out to the typical things you'd expect: signs in the yard, their own real estate agent, word of mouth, or some other form of advertising.
That 51% means if your home isn't actively getting marketed online, you're missing out on a huge chunk of the market.
So, how do you get started? While you could go through your local listings, ask your neighbors for recommendations, or attend your local networking meeting to find an agent, there's a better way. To all you out there asking, "How do I sell my house online?" we've got the top three ways laid out just for you.
Selling your house yourself is no easy task. It's not like selling your car, where you slap a price sticker in the back window, post an ad on Craigslist and get a call a day later. Selling your house requires a bit of work.
If you are selling your house For Sale By Owner (FSBO) and want to have the best chance at selling it for your asking price, you'll want to list it online. You could make your own website for your house and send traffic to it from Facebook or other online platforms.
But if you want to see real traction, you need to list your home on the MLS.
The MLS is a database run by real estate agents that is like Google for your home search. Real estate agents don't want to have to make a note of every "For Sale" sign in their neighborhood to let their clients know. That's why they created this database.
Each agent logs the homes they are selling into the MLS, which allows thousands of people looking for houses to find yours.
Only real estate brokerages have access to the MLS. Which means, if you want your home listed on the MLS, you've got to sign up with a brokerage. Most people think this means you need to use an agent. That is not completely accurate.
Flat Fee MLS companies charge a flat rate amount that is typically less than a traditional real estate agent to list your house on the MLS. Occasionally, these companies will provide extra services like creating a website for your house or taking some photos. Any service beyond simply listing your house usually costs extra.
Here are a few pros and cons to help you weigh your options.
- Your home get's listed on the MLS which feeds sites like Realtor.com and is available for others to see
- Any other services provided through your Flat-Fee MLS
- You pay a small flat-rate fee that is either a percentage of the sale price or a simple dollar figure
- You are in charge of marketing your house
- You are in charge of negotiating the price
- Gathering all the paperwork resides on you
- You are in charge of walk-throughs, etc.
If you don't want to sell your home yourself and aren't interested in using a real estate agent at all, you could go the iBuyer route.
iBuyers are online platforms like OpenDoor or Knock where you can enter in your home information and receive an instant or almost instant offer on the house. The offer you receive is contingent upon inspection, but you don't have to show the house to anybody or even list the house for sale to receive an offer.
People who have used iBuyers said they like the simplicity of the home buying process but didn't always like the repairs that got deducted from the sale price if they weren't fixed. Additionally, homes bought through iBuyer sites often sell for less than fair market value.
If you are considering using an iBuyer, it's a good idea to weigh the pros and cons. Some of those are:
- Instant or almost instant offer
- Warranty on your new house
- Fast closing time
- Discounts for using their lender
- You could make less money on the house
- You pay the full commission rate of 6%
- Repairs may be required or are deducted from the sale price
- You pay any fees associated with using the service
Online agents are real estate agents that you find online. Some of these agents you'll actually meet in person, while others assist you online and send out an associate to help you with your showings, signage, and other types of in-person meetings.
Full-service discount agents provide the same level of service that your traditional real estate agents do. At Clever Real Estate, for example, the only difference between our real estate agents and a traditional real estate agent is the price. Many of our agents are traditional agents who partner with us to provide discount rates to you.
To locate these real estate agents, you'll often just need to enter in your contact information with a good phone number and email. You'll usually receive a text or email introducing you to the agent you are matched with, and you can set up a time for them to come out and see your house.
While each online brokerage is different, here are some pros and cons to expect from an online agent.
- Flat-rate fee instead of the traditional 2.5% to 3% of your sale price
- Quality, full-spectrum of services including
- Listing on MLS and popular sites like Zillow and Realtor.com
- Home photography
- An expert negotiator
- A top-rated local expert
- Not every online agent provides the same level of service
Now that you've weighed the pros and cons of each, it's time to list your house! We've given you some great examples of sites that offer each of these online real estate services. If you have any questions about online agents, reach out! We love hearing from you.
Need a top-rated local expert to handle your listing? You need Clever. Clever provides top-notch service at a discounted rate. Call us today at 1-833-2-CLEVER or fill out our online form to get started.