One question I’ve heard a lot recently from homeowners is, “Should I Sell my house to Zillow?”. It’s no surprise that it is at the front of most home sellers minds, there are a lot of iBuyers and companies offering Guaranteed Offers, Instant Offers or similar gimmicks. You can get these quick home purchase offers from Zillow, Open Door, and other investor groups.
But let’s answer the question, Is it smart to sell a home to Zillow or other home purchase program?
The first thing you should ask yourself is, why am I selling my home. What is most important to me in the transaction of selling my house? If you need to sell your home fast and don’t want to take the time to deal with fixing some minor problems and cleaning up the house, Zillow might be a great option. The main value that selling to an iBuyer provides is that the process is quick and easy. But obviously this comes at a cost.
If you are hoping to take advantage of this great market to get top dollar for your home then you should avoid Zillow and take you home to the traditional home market. You’ll definitely get more money for it on the open market.
While listing your home traditionally may require you to fix a few maintenance items and to clean up before showings, you’ll get a lot more people looking at your home. Working with a Realtor will bring all of the interested home searchers to your door. Once inside these families will likely fall in love. Families that fall in love with a house and have a fear of missing out are likely to pay a lot more for your home than an investor would.
Selling your home to Zillow or similar buyer is going to get you a low ball offer. The investment companies might do some minor repairs or possibly replace the carpet but in most cases they are just going to list the house within a couple of weeks for more money.
Why take less money that your house is worth? Wouldn’t you rather pocket that easy money that these investors are taking advantage of?
Again, if you are in a rush or don’t want to deal with holding open houses or having real estate showings, maybe taking a Guaranteed Offer is the way to go. It depends on your current situation.
If you are thinking about selling your home, give me a call. I can get you a handful of Instant Offers and we can discuss whether that makes sense for you. Text me at 970-203-5066 to get started on your best options.