When you’re ready to sell your house, there are many routes you can go—particularly in the online realm. Selling properties online is convenient (and can even save you money), but which option is the best? RealtyHive is here with the answers—learn about online real estate sales, home auctions, and more in today’s blog.
RealQuick: Do I Need a Real Estate Agent?
If you want someone to take care of selling your property from start to finish and minimize work on your end, a real estate agent might be a good choice. However, avoiding a real estate agent can save you up to 6 percent in commission. If you have the time, going the FSBO (for sale by owner), route can save you money that would otherwise go to an agent and still sell your property.
Online Real Estate Databases
PROS: Convenient, “free,” easy to navigate
CONS: Can still end up working through an agent, takes time to create a great FSBO listing
Using online real estate databases make selling your property easy. Some sites may require a small percentage commission or a flat-rate fee. Sites like Zillow and Trulia are free to use, but this comes with a slight catch. Zillow and Trulia make their money from advertising, which can put real estate agents ahead of your property. If a buyer wants to go through an agent, you could lose money.
Additionally, you’re in charge of your online home sale. You have to do the staging, photography, and marketing for it—free online real estate databases are just the platform.
Personal Online Marketing
PROS: In your control, free
CONS: Time-consuming, may only reach a smaller audience
Posting up your FSBO listing on Craigslist or even Facebook Marketplace is free. It can be nice to see who’s interested in your community, especially since not everyone in town is likely to pass by that “For Sale” sign in your yard. However, you might not be able to find as reliable buyers, and your listing won’t be seen by nearly as many people. This is because Zillow and Trulia account for most people looking online to buy a home.
Home Auction Sites
PROS: Efficient process, attracts serious buyers
CONS: The selling price is not a guarantee
Home auctions have grown increasingly popular—sales through auctions have increased roughly 25 percent each year. While they once were usually associated with foreclosure, auctions have been deemed a reputable and even preferable selling option. They’re much faster than most selling methods and great for selling in a slow market (and can help you save money). Auctions also attract serious buyers, which means your home can be on the market for a shorter period.
Additionally, home auction sites like RealtyHive offer marketing. You won’t have to worry about professional photography and marketing your property online to attract buyers and get the best price.
Some auction sites do “absolute auctions” where the house is sold to the highest bidder, whatever the price. RealtyHive does things differently. If sellers aren’t satisfied with their home’s auction bids, they don’t have to sell. On the flip side, the property can go for even more than what the seller thought to list it for.
There are multiple ways to sell your house online. If you’re looking for an efficient, reliable, and potentially money-making process, RealtyHive is your answer. We are a licensed online auction site that anyone can use. Contact RealtyHive to learn more about how to put your property in a time-limited event!