I recently got a call from a home seller who said she was waiting to sell so she could study the market and see how all these new guaranteed home sale companies were going to impact it. These companies started showing up in our Triangle market a little over a year ago, and that was because we’re one of the top real estate markets in the nation.
What do they actually offer homeowners, though?
Well, they do guarantee a home sale, but when you hear the word “guarantee,” remember that you’re talking to an investor, and they’ll naturally come on strong to get you to sell them your house. If you’re going to talk to one investor, why not play the entire investor market and make sure you get the best price possible?
A lot of these companies also guarantee that they’ll close within 21 days, which might appeal to a seller who’s in a hurry, but I consider it to be firesale. In fact, I joked recently that they want to close within 21 days so you don’t have time to figure out what you’ve lost in the sale. Remember, there’s more than one person out there who can close on your house within 21 days, so again, don’t just accept the first offer that promises a quick close.
The next thing they won’t offer is showings. While showings can be a hassle, if you have no showings, it means you have no competition for your home from other buyers, either. Your home needs a little healthy competition from multiple buyers in order for it to sell for top dollar.
They also promise to move you for free, but if they can offer to move you for free, it’s only because they’re projected to make so much money buying your home under its market value and reselling it after you’ve moved out.
Selling to these companies isn’t as easy or hassle-free as you think. It’s always easy to lose money in real estate. My team and I have worked with many sellers who had offers on the table from these companies, and we were able to sell their homes for thousands of dollars more by doing so the conventional way.
Like I said, these companies’ business model involves buying your home under its market value, then reselling it for a profit. You don’t get the profit—they do. If you really want to sell your home quickly and for top dollar in our market, you’ll need to work with an agent such as myself.
If you’d like to know more about how I can maximize your home sale or you have any other real estate questions, don’t hesitate to reach out to me. I’d love to hear from you.