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iBuyers are the New Cash For Your House Scheme

iBuyers are the New Cash For Your House Scheme

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Have you heard of iBuyers? Maybe not, but you’ve probably heard of those signs on the side of the road offering to pay cash for your house, right?

Essentially, there are about the same thing but of course, it doesn’t sound as underhanded, does it?

What is an iBuyer?

iBuyers are primarily an online company that allows you to request an offer for your home, site unseen. If you accept the offer, this company will purchase your home, listed, and then sell it to someone else, typically for a higher price. The offer you receive is lower than what you would normally get if you have listed it on the market traditionally.

Who are these companies?

Surprisingly, most companies like Zillow, Redfin, and Opendoor have their own iBuyer programs and recently, Keller Williams has jumped on board.

They’re basically a company that buys homes from sellers who sign up online. After the company receives the description of the property, they make an offer to the seller within a couple of days, which may or may not include the cost of moving as well. They don’t really differ, they just sound more professional. I mean, who will you sell your home too? Someone that posts a handwritten sign on the side of the road or a company that seems more legitimate with the website?

Of course, it all comes down to price. How much are you willing to get for your home by selling it for cash outright?

Many homeowners just feel that they’re being undermined  and are not actually getting what the home is worth, and for the most part, that’s true. You’re not going to get as much from the sale of your home by selling to an iBuyer or cash homebuyer as you would by listing it, but really, convenience is the key here. Are you willing to put your home on the market, stage it, conduct repairs, deal with home inspections, deal with buyers, and a listing agent, or do you simply want cash in hand and move on with your life? This is where convenience really can cost you money.

The difference between an iBuyer company and real estate agent.

Yes, you may have to deal with a little bit more inconveniences with a real estate agent but you have quite a bit more benefits:

  • Exceptional service and care from an experienced agent.
  • Sharp negotiation skills. Someone that can negotiate for your terms and your price.
  • Updated communication and making informed decisions through every step of the selling process.

There are dozens of reasons to go with a real estate agent but again, it comes down to price and convenience. This type of program may work better but are you willing to sell your home for a lower-priced knowing they will turn around and sell it for a higher price? That might be something you’re willing to entertain, and then again, you might consider the option of selling with an agent. Even if you had to pay a commission, selling with a real estate agent will usually not you more profit than selling with an iBuyer.

Get started now – Find out what your home could sell for

Great tips and advice for home sellers:

Have a home with a basement? Make that a great selling point with these basement renovation ideas. 

Don’t make a mistake when selling, here are 3 selling mistakes to avoid when listing your LA County home.

Should you sell your home yourself? Its it worth it? Here;s what you should know about selling a home on your own. 

Staging is the way to go but do you have to  hire a professional to stage your home?

Ready to list? I specialize in these hot LA County markets: Pacific Palisades real estate, Santa Monica CA homes, Culver City properties, Beverly Hills CA homes for sale, Malibu estates, and Manhattan Beach houses.

3 Crucial Selling Mistakes to Avoid

3 Crucial Selling Mistakes to Avoid

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3 Crucial Selling Mistakes to Avoid – I want to give you all the available tools and marketing strategies necessary to show your home well and sell it fast.

Now is not a market for less than motivated home sellers. Most sellers in the South Nashville market right now, need to sell and the inventory cannot withstand “fake” sellers.

I want to arm our sellers with all the valuable information necessary to present to home buyers that truly feel inclined to buy.

Because our team cannot direct every phone call and every showing there are some guidelines to keep in mind when listing and selling your Santa Monica or Pacific Palisades real estate.

Here are 3 Crucial Selling Mistakes to Avoid

Be Realistic on Price when Selling Your LA Real Estate

Too many sellers may just want to test the real estate waters and come down if necessary or sell if they actually get the asking price. This is not the way to sell quickly and you may end up coming down farther then where you could have sold, to begin with, if priced right.

At Exclusive LA Property, I want to help you price the home right from the beginning in order to get as many buyers interested as possible. Knowing the market, what’s actually selling and what buyers want, all come from years of seasoned experience in selling real estate.

Be Flexible with Buyers

If you are listing your Los Angeles property with stipulations that showings can only happen by the listing agent, during certain hours or extensive advance notice, more than likely you will turn off most buyers. Buyers may have constrained time frames to view homes, short notices by their agent or odd times due to work or family. By restricting them even further, you may turn away a potential offer.

You will Sell when you are Motivated

Although it’s not a terrible market, we have slowed somewhat and motivated sellers need to be serious when it comes to staging and pricing.  Whatever motivates you to sell right now needs to be kept on the forefront of your mind. If you lose focus and forget the reason for selling, it can make your decisions cloudy and potentially lose a sale.

Consider this when negotiating price, terms, inspection items and the like. Yes, you don’t want to give the house away but when it comes to a couple hundred dollars, you need to consider what is more important. I help you analyze all your options and choices when selling. Try not to get too emotional when negotiating.

Your Pacific Palisades home for sale is your emotional attachment, not the buyers. They simply want the best deal they can get. I work with you to devise a plan that works out for both parties.  Looking to sell a home? Let us help you find the perfect Santa Monica home or Pacific Palisades property.

Get started now – Find out what your home could sell for

Great tips for buyers and sellers:

How to Stage a High-End Home Great information for those with luxury homes and are looking to do a little staging on their own.

Want your home to sell faster? Here’s why Deeply Cleaned Homes sell for more money and faster.

Buyer’s tastes change year by  year but there are some trends that never go away. Here are 5 Design Trends buyers are looking for.

Closing costs can be all over the board but they are something all new buyers should understand. Here’s how to understand closing costs and what buyers should know.

 

Should I Hire a Professional Stager When Selling My Home?

Should I Hire a Professional Stager When Selling My Home?

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Staging a home is not new. We’ve done it for years and it can really help sell a home, as well as, garner a higher asking price. But do you need to use a professional? Here are some simple answers to these and other questions on staging.

What is staging?

Home staging is the furnishing and prepping of a vacant or occupied home that’s for sale on the real estate market. It is furnishing a home with a layout conducive to normal, everyday living in an upscale and professional manner.

How important is staging when selling a home?Should I Hire a Professional Stager When Selling My Home?

Experts agree that staging a home can increase the home’s selling price and the likelihood that it will sell faster as potential buyers can easily see themselves in the home, regardless of the condition of furnishings.

Do Realtors hire home stagers?

For many high-end listings, real estate experts will hire their own stagers or have home staging professionals as referrals. Most luxury Realtors will have their own home staging professionals that they recommend to help stage and set up the home to maximize the sale.

MORE: What’s Your Home Worth?

How much does a professional stager cost?

Home staging is really all over the board when it comes to fees. Home staging can cost as little as $200 or as high as $1000 and it depends on if you’ll be renting the furnishings or using your own. Stagers can do a variety of both depending on the materials and items available.

Does the home have to be vacant?

No. We can stage with your existing furnishings or bring in some pieces of our own and mix-and-match. Buyers understand that the furnishings typically do not convey with the property and will need to make sure that we understand which furnishings are the homeowners and which are the stagers. However, when staging a vacant home, all furnishings need to be brought in and it may be more expensive.

What is soft staging?

Staging is similar to traditional home staging but without the furniture. This is where stagers will bring in accessories and artwork to complement existing furnishings or to make the home feel warmer and more inviting.

Related: Popular Cleaning Tricks from Tik Tok

Should I hire a professional stager when selling my home?

There are a variety of reasons why using a professional stager will definitely help. Of course, you can sell the home yourself with some simple DIY and HDTV tips and tricks but having a professional stager, even for consultation, can really boost the rate of return on your home sale. Here are some reasons you should consider hiring a professional stager when selling your home.

#1. Your home will likely sell faster.

Nearly every survey conducted states that the longer the home is on the market the lower the price. Homes that stay on the market for over 20 weeks can sell for an average of 7% less than the originally listed price. Selling a home faster means more profit in your pocket.

#2. Many homebuyers cannot visualize the potential of a home.

Vacant homes tend to take longer to sell and sell for less. Buyers realistically understand that the furnishings don’t convey with the house but by seeing the layout and how furnishings would fit in the room, makes buyers envision themselves in the home, selling the home faster.

#3. You’ll make more on the profit.

The average cost of staging a home is less than 1% of the homes asking price but it can offer up to 10% in return when you sell. Why wouldn’t you stage the home?

#4. Online listing photos will stand out from the crowd.

Nearly 90% of home buyers start their search online so those initial photos need to be amazing. Staging a home and then taking professional photos will boost not only the showings, but potential offers as well.

#5. Selling as-is only helps the competition.

The term “as is” is a recipe for disaster when it comes to selling. You may not want to do anything to the home but unless you’re willing to walk away with less than a full asking price, staging is essential.

I’ve helped hundreds of people throughout Los Angeles County and Pacific Palisades as well as Santa Monica and surrounding communities sell their home for above-asking price simply due to professional staging and photographs. When you’re ready to list your home, contact my office. Will discuss options as far as home staging, how much your home could be worse with professional staging, and how quickly it could sell.

More:

5 Ways to Make Your Home More Coziness

How to Get Your Home Ready to Sell While Social Distancing

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IRC 453 better than a 1031 Exchange

Tax Deferred Sales Trust – Better Than A 1031 Exchange?

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Avoid the dreaded Capital Gains Tax!!!

If you are planning to sell your Land or Income Property and not reinvest it, ie you are tired of being a Landlord and just want to focus on spoiling the Grandchildren lol, then you may want to look into a 453 (Section 453 if the Internal Revenue Code).

So what is it Tom? I’m glad you asked. 1031 Exchange

1031 Exchange
A 453 can be a lifesaver for your estate planning

Tax Deferred Sales Trust – Better Than A 1031 Exchange? The 453 is a “Deferred Sales Trust” which allows you to sell your property or business, defer the property gains tax and roll the money into investments other than real estate.

Learn more here > https://reefpointusa.com/is-a-deferred-sales-trust-right-for-you/

So instead of selling directly to a Buyer, you would draw up a contract with a Third Party Trust with the promise that it would pay you over a predetermined time period. You would transfer the property to the Trust, and the Trust would be allowed to sell it to the Buyer.

You can integrate this deferred sales trust strategy with your estate planning to protect your money from estate taxes.

Please contact me or your trusted advisor.

Search Homes in Santa Monica and surrounding area HERE

shoud i sell my house during coronavirus

Should You Sell Your Home During Covid-19?

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If you had plans to list your home in 2020, you still can. What changes can you expect though?Do You Need To Tour A Home During Covid-19?

The main takeaway is your home may be very sought after since other sellers may have decided to hold off marketing their home.

Obviously you now want to deal with the number of people touring your home. You will want to restrict the traffic to 2 people at a time and make sure they feel healthy with out symptoms of Covid-19 including a temperature. You may also want to restrict tours to pre-approved and serious buyers only.

Realtors are also asking buyers to use hand sanitizer, wear booties and refrain from touching anything. As well, The California Association of REALTORS has these guidelines CAR Best Practices Covid-19

To assist you, C.A.R. has released two new forms: One is a Listing Agreement Coronavirus Addendum or Amendment (RLA-CAA) for sellers and listing agents to sign, and the other is a Property Viewing Advisory and Declaration (PEAD) that is to be given to and signed by the seller, buyer, agents and anyone else who will be entering a property.

The process will surely be a bit slower than pre Covid-19 also since there are so many components to close a sale.

The purchase agreement will have a closing date though some agents are writing clauses into the contract that basically foresees the possibility of a delayed closing due to Covid-19 issues.

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