When selling a home, as with most anything else, the more “eyeballs” you can get, the better are your odds of making a deal.
According to NAR reports, 52% of buyers found their dream home online — not by flipping through brochures, driving through target neighborhoods, or contacting an agent for leads. Therefore, your home’s online presence is particularly crucial if you’re selling it on the online market and you have just eight seconds to grab your buyer’s attention.
There are three main strategies for selling real estate online. The method you choose should depend on your timeline, financial goals, and your willingness to invest time and effort.
In this guide, we’ll give you a detailed explanation of these three primary online home selling strategies, so you can win over buyers and sell your home for the most money. So, let’s get you ready to sell!
The majority of home sellers use the services of a real estate agent for selling their homes online.
According to NAR reports:
A real estate agent’s expertise in networking, marketing, pricing, and negotiating helps you sell your home fast and for significantly more money than you’d probably make selling your home to a direct buyer or selling your home on the market without an agent.
Here are some key benefits of selling your home online with a realtor:
If your home is listed on MLS, it increases its exposure, thus increasing the chances of selling your home. Only licensed real estate agents have access to this tool, which they can use to post photos and details of your home.
It’s a known fact that pricing can make or break the sale of your home. Your home selling price should be fair and also appealing to the local buyers. But, striking a balance is not easy as it may sound.
Fortunately, real estate agents have the knowledge and methods for arriving at the right home listing price. Through comparative market analysis, they study the local real estate market and set a beneficial price to both the buyer and the seller.
Experienced realtors and real estate agents are great professional negotiators. When negotiating a sale, they are not merely representing your wishes and acting as an intermediary, but they are tenaciously looking for ways to create an agreement between both sides.
A realtor has the tools and resources to implement a robust online marketing strategy involving a good social media presence and internet exposure. Today, since a significant portion of the home selling process happens online due to the COVID-19 pandemic, real estate agents have innovative contactless procedures at every step of the home sale process.
Some of the virtual technologies that have become the new normal with real estate agents are:
According to HomeLight’s Top Agent Insights Q2 2020 report, 46% of agents confirm that live virtual open houses and 3D tours have replaced video tours to be the top tool for sight-unseen deals. And companies like Styldod have been instrumental in helping real estate agents get accustomed to the ‘new normal’ faster and with ease. Styldod creates stunning, 100% mobile compatible, single property websites that includes virtually staged property images, 360 virtual tour, floor plans, street views and much more, empowering real estate agents to sell your home online faster and for top dollar.
For Sale By Owner (FSBO) is a home-selling strategy in which the owner lists their home for sale on their own without the help of a listing agent or broker. Homeowners who choose this option are responsible for all or most of the processes involved in selling a home - from listing the home and showing it to prospective buyers to negotiating the deal and closing.
One motivating factor that drives homeowners to attempt to sell FSBO is saving a commission. Since you sell the house yourself, you don’t need to pay the real estate agent commission. However, this isn’t the only benefit of FSBO; there are a few more:
When you do it solo, you decide everything on your own – from preparing your home for sale, marketing it, determining the price to handling negotiate the price – it’s all on you.
Suppose you are a DIY person who has the advantage of time. In that case, you can dedicate all your time and energy to extensively market your home online, be available for property showings, and communicate with potential buyers at any time of the day.
However, there is a long list of things that real estate agents typically do that become your responsibility.
Interestingly, 36% of millennial sellers and 34% of urban sellers attempt to or succeed in selling their homes on their own. If you want to be successful, learn the following ways to sell your home on your own:
With the small flat fee, you can get access to active buyers and real estate agents who use MLS as a primary tool to find homes on sale. Once your listing is in the database, you can make changes to the listing, schedule open houses, and list your personal contact information for ease of showing and reviewing offers.
Search for flat fee MLS listing sites, such as Realtor.com, Zillow, Trulia, Redfin, etc. Next, create an account, upload photos, and other information. Some tips for searching for the right flat fee MLS listing site:
If you are in the real estate market, trying to sell your home independently, social media should be an essential part of your strategy. So, the more seriously you can take your social media activities, the better are your chances of selling your home quicker. Some of the things you should keep in mind while using social media for marketing your home for sale are:
Visit our blog for more social media marketing strategies.
An iBuyer is a company that makes an offer on your home instantly with the help of technology. iBuyers are responsible for causing a dramatic shift in the way people sell or buy homes. These technology-driven companies offer a simple and more convenient alternative to a traditional home sale.
iBuyers evaluate the value of your home and make an offer. If you accept, they take the responsibility of owning, marketing, and reselling the home. Some of the top iBuyer companies are:
In 2018, Zillow announced its iBuying program. Aptly named Zillow Offer, it makes instant cash offers on your home.
Launched in 2015, Offerpad has become the second-largest iBuyer in the US. It aims to eliminate stress and hassle associated with the home selling process.
Launched in 2014, Opendoor is a pioneer in iBuying platforms and programs in the US. This largest iBuyer enables you to sell your home and move into a new one easily.
Redfin introduced RedfinNoW, its iBuyer platform, in 2017. With its plans to expand in the pipeline, RedfinNow enables you to sell your house in under 30 days.
UpNest was founded in 2013 to help buyers and sellers find qualified, local real estate agents to ensure a quick, stress-free transaction.
Orchard introduced its iBuyer program in 2017. It aims to reduce the stress and uncertainty associated with selling and buying a home.
HomeLight entered the real estate industry in 2012. This company relies heavily on data and a proprietary algorithm to help you find a top real estate agent in your area.
iBuyers promise a speedy selling process. You don’t need to wait on the interest of a potential buyer. The iBuyer can close a deal within 24 hours or at the time frame that works best for you.
iBuyers offer to buy your home in cash. So, if you have a cash crunch, need monetary flexibility, or in a time-restricted situation where you need immediate access to cash, then iBuyer could be your best bet. Typically, you can get the cash offer within 24 hours.
The best part of using an iBuyer is handling the showings once the house is bought and dealing with potential buyers themselves.
If you aren’t qualified for two mortgages, it’s a headache to time the sale of your current home perfectly so that you can buy your next home. iBuyers provide cash offers for your current home at your time frame and help you seamlessly move into your new home.
Finding the right realtor to sell your home can be a long and challenging process. With an iBuyer, you don’t need anybody else – just you and the iBuyer are good enough.
Some of the several reasons why you should consider selling your home online include:
Regardless of how you decide to sell your house online, one thing is certain — selling a home online is easier, faster, and costs less.