No Showings, No Open Houses Opens The Door To Thrown Away Equity

In this day and age of mobile tech and “mash button:  get food delivered instantly”, everyone is looking for instant gratification and an easy way to accomplish everything instantly online.  Because of this, there is no shortage of companies attempting to convince people that they are the “new and easier” way to sell or buy real estate.  But, is it really possible to sell your home for full market value without going through any of the inconveniences associated with a more traditional approach to selling?  Unfortunately, the reality is a resounding NO.  If you really think it through, you don’t need to be a trained expert to see why these claims absolutely have to be unsubstantiated.  For profit companies that are offering to buy your home are not going to live in your home after purchasing it.  They are going to put it back on the market and sell it for more than they bought it for and the difference between what they buy it for and what the final occupying buyer pays is how they make a profit.  In spite of this, it is surprising that these companies seem to be getting so many homeowners to take the bait.  Temporarily, we are in a perfect storm situation to allow these companies to profit from the naivete of many unsuspecting homeowners.  Here is why they have become so popular:

1.  Homes are consistently selling for MORE than comparable sales substantiate:  When a home seller speaks to a real estate agent to find out what their home might sell for, the agent determines that value by looking at recent sales (“Comps”).  This comps-substantiated value is the price that any responsible listing agent is likely to provide a seller.  However, the sellers that choose the traditional listing route are very frequently ending up with a bidding war on their home and actually selling for more than their list price.  In fact, in the past 12 months, Matthew Share has averaged a sale price of 2.7% above full list price for all of his seller clients.  There are many examples of home sellers who have explored offers from one or more instant offer companies prior to meeting with Matthew (not a good idea by the way – it is better to meet with Matthew Share FIRST) and subsequently listed the property. In every one of these cases, the sellers who listed the traditional way ended up netting a minimum of $10,000 more than they would have had they sold it the “easy” way. Hindsight is always perfect vision.

2.  The effort and time it takes to sell a home the traditional way is over-exaggerated by instant buy companies advertising.  Here’s the truth:  Most listings these days get multiple offers and sell for ABOVE full price in just a couple of days; so the hassles associated with showings are limited to one weekend only and Open houses are not necessary to cause a sale even the traditional way. To really drive this point home, Real Estate For Atlanta is offering 10 day listing agreements; guaranteeing to sell your home in 10 days or less.

So, ask yourself:  If I offered to pay you $10,000 to have 24 – 48 hours of people looking at your home, would you take me up on my offer? If so, then why would you give up $10.000 or more of your equity just to avoid that very minimal inconvenience for such a short period of time.

That said, I will admit that there are some circumstances in which it does make sense for a seller to knowingly leave that money on the table; but that would be limited to very specific and less common scenarios. For this reason, you (and anyone you know) should reach out to Matthew Share as a first step (before contacting any instant offer companies who will try to pressure you with an offer that’s only good for a few days. He will learn about your situation and discuss the pros and cons of ALL of your options (including the instant sale) and help you decide what’s best for you.