The USA is on high alert for the ripple effects of the worst pandemic the world has experienced since the Spanish flu. There’s no state, city, town, or rural village that’s immune to the devastating impact on our lives and well-being. It is a new norm that embraces social distancing, wearing masks, lockdowns, staying ten feet apart, and washing hands at every turn. And it’s probably with us for years to come.
At the time of this article’s writing, the COVID-19 cases are escalating, and hospital capacities are more than tight in many parts of the country. Children are getting used to homeschooling; there’s no summer camp activity. Home confinement is the order of the day. Office spaces in spare rooms are opening up like wildfire. Companies mandate that their employees work remotely to avoid health issues at work.
With all the upheaval in our social and economic interactions, life goes on.
People transact in the real estate markets, change residences, and move between locations. Evidence shows that house and condo sales have returned to reasonable levels after a lull during the midst of the crisis. Unlike travel, restaurants, sports, theme parks, hotels, and retail outlets, residential and commercial property markets are not economic public health victims. Nonetheless, the challenges in the new norm are significant. Unless, as a seller, you are ready to adjust your approach to selling your home dramatically, the process may extend for months and invariably shut down. It’s a hard reality, but why?
Think about it. If you sell with a realtor, here are the things you have to contend with:
- Contractors coming in and out of the home dealing with any number of issues, like:
- Creating curb appeal
- Fixing up all the odds-and-ends like broken locks, door handles, tiles, etc.
- Painting and, in cases, renovating rooms
- Movers helping you to declutter and stage your home.
- Video specialists and photographers preparing visuals for the MLS listing.
- Prospective buyers traipsing through your home as realtors give their pitch.
- Show days with droves of people walking through.
You may respond, saying things have changed, the realtors will do their best without all that. No, in the first instance, the traditional system is in their DNA. Secondly, presenting your residence to stand out from the herd is still very much in the cards. It’s naive to believe there aren’t competitive offers in your immediate vicinity or close by. By deciding to go the traditional route, or even “For Sale By Owner,” promotion is the “open sesame” when it involves creating buyer interest. COVID-19 or not, buyers refer to the MLS and want to touch and feel the merchandise before putting their money down.
It’s crucial to understand three traditional selling ramifications you may not have considered:
- Not everyone complies with the state and federal safety requirements. Some see it as a conspiracy, and, indeed, attitudes to the pandemic have become politicized to an extent. So you can’t be sure that all the touchpoints after people connect with your home are clean and sanitized after the event.
- We still know so little about the spread of this virus. For example, there’s an ongoing debate around which masks work best, the effects of air-conditioning, indoors or outdoors, etc. Uncertainty is not a winning foundation when social connection drives the process forward.
- What do you do with the kids and the pets when realtors enter the home with clients? It’s not as if you can spend your time through malls, visit a friend, or even sit around at Starbucks. Every walkthrough becomes a challenge, and with “stay-at-home” recommendations in place show days may be nearly impossible.
So with traditional realtors, where’s the value?
First off, what dollar amount am I paying when I get a realtor in my corner? The quick answer is that you probably can look to a deduction on the original offer price in your hands, of up to 12% – and in a few cases more. “What are you talking about?” is the usual response, “I know my realtor obligation is around 6% if there’s an agent on both sides of the deal. Where else am I losing in this arrangement?”
There’s a whole list of things.
- Most realtors want to know that you have addressed all possible prospect resistances. They push for making the front of your house, backyard, and interior as attractive as possible.
- They pressure you to replace your old worn-in sofas and dated decor with modern contemporary furnishings (i.e., staging on a rental basis). You pay for all that, not the realtor.
- Further, if your kitchen or bathrooms are eyesores, your agents may nag you to renovate or at least semi-renew. You see money leaving your pocket before any possible buyer even gets to connect with you.
- Then the unexpected hits you between the eyes, often when it’s too late to do anything about it:
- Some realtors charge for 3-D video visuals of your home.
- Home inspections are a common contingency with every offer. Once completed, it can knock thousands off the offer price – depending on what they find behind the walls, in the pool, faulty appliance, roof leaks, and mold, to name a few items.
- Perhaps your home doesn’t appraise at the offer price, and the buyer’s lender can’t approve a mortgage to meet it? You’re too far in to let the deal slip at this stage, so you take a big cut.
- Often the realtor forgets to get the “earnest money” deposit. A day before the close, the buyer squeezes you for more concessions, threatening to abort the deal and take the chance that you won’t sue.
Data shows that in traditional selling, there’s always a downgrade in cash received versus expectations. The counter-argument is that realtors get one a better price based on their expertise. In a sellers’ market, that’s probably true, but it’s debatable in a neutral or buyers’ marketplace. The more power in the buyers’ hands, the less control the realtor has over the outcome. The takeaway is that the offer you get going along the traditional route is not the cash inflow that results.
Combine the realtor process with the prevailing COVID-19 restrictions on movement and threats to one’s safety, and the prospects of selling your home on the MLS look forbidding. The question is, what’s the alternative?
Home Buyers Birmingham offers significant advantages across the board.
If you live in Birmingham, Al, you should look at the proposition offered by Home Buyers Birmingham – the best of the best amongst home cash buyers nationwide. If you live anywhere else, read the rest of this article to make valid comparisons.
- To begin with, remove 99% of your social distancing concerns with one phone call. Our company has no stipulations for curb appeal, decluttering, staging, and renovating. It’s a professional dealer in single-family homes, so it looks past all that. Leaving as-is will not relatively penalize your exclusive offer from Home Buyers Birmingham.
- Also, say goodbye to homebuyers parading through your home for weeks on end. Promotion on the MLS with time-consuming preparation, show days, and walk-throughs disappear.
- From the time you call Home Buyers Birmingham until the time you have an offer in your hand, it’s at most a few days. The cash is in your bank account on the day you close. Home Buyers Birmingham is very flexible on that score and will accommodate your forward plans, knowing COVID-19 considerations hold much sway.
- With Home Buyers Birmingham, you deal with one person, wearing a mask, quietly and relaxed. No moving kids and pets to make way. Online communications also facilitate seamless discussions without personal contact.
- Every home cash buyer erases the 6% realtors commission from the equation. There are no contingencies because it’s a cash offer. The offer you see is the money you get.
- One of the most compelling features of Home Buyers Birmingham is that its home inspection precedes the offer, so a shock of fixing things afterward won’t happen. Everything is upfront and final once you accept it.
Sellers are aware that home cash buyers are in it to make a profit.
Dealing with a home cash buyer doesn’t imply seller abuse alongside receipt of ridiculous discounts to fair value. Home Buyers Birmingham respects the savvy of its customers and the faith they place in its methodology. The people behind the company understand that cutting out the agent’s commission and all the other contingency problems that erode offer value give them room to provide a very reasonable net price to sellers.
To sum up – Home Buyers Birmingham is an optimal alternative in the current public health pandemic. In combination, the following makes it a no-brainer electing the Home Buyers Birmingham way of transacting your residence in the USA today.
- Home Buyers Birmingham is well ahead of the game whenever there’s a premium on health and personal safety,
- The company represents an excellent dollar-for-dollar comparison versus the traditional realtor arena (see above).
- It eliminates the need for connecting to crowds of home-buying prospects, movers, realtors, and their associates.
Finally, cutting the process time from weeks to only a few days and, at the same time, removing the stress, drive home a compelling home cash buyer advantage.
Sell Your House Today!
Home Buyers Birmingham
1821 11th Avenue South Suite #55331
Birmingham, Alabama 35205