THREE BIG DIFFERENCES BETWEEN REAL ESTATE INVESTORS AND REAL ESTATE AGENTS IN EL PASO
If you own a home in El Paso and have been thinking that it might be the right time to finally sell, there are a variety of professionals in the area able and willing to help. The key is understanding what you want to do so that you can work with the right professional to meet your specific needs when it comes to selling your house in El Paso, Texas.
The two groups of professionals that you’ll need to decide between working with are real estate agents and real estate investors. Both will ultimately help you sell your home, but there are significant differences between the two and the benefits they offer when trying to sell your home. Once you understand these differences, you’ll have a much better idea of which kind of professional is the right one for you and the sale of your El Paso property.
Difference Number One: Investors Buy your property and Agents List your property
Quite simply, an agent is someone who is going to list your property on the local real estate market to find a buyer who likely intends to purchase and live in the home. This means an agent will want to show your house to several potential buyers. Additionally, to attract the kind of buyers who shop on the local real estate market, you may be required to make updates, repairs, and make additional financial investments into the property before seeing any kind of return.
On the other hand, investors buy the home themselves. Level Cash Home Offers is an investor. That means we buy homes directly from homeowners in the El Paso area. Also, it means you do not have to make additional investments or show the property to numerous strangers.
Difference Number Two: It can take months longer to sell your house with an agent vs. selling to an investor
Another major difference between selling your house with an agent or selling it directly to an investor is that selling with an agent can take months longer. Simply put, there is no way an agent can know or tell you when they will be able to close a deal for your house in El Paso. The average in recent years has been anywhere from 3 – 12 months through El Paso and the surrounding area. Again, over that time you’ll be required to pay all fees and taxes related to the property and show it to multiple potential buyers.
Selling to an investor like Level Cash Home Offers couldn’t be more different when it comes to how long it takes and the kind of certainty you can enjoy throughout the process. In many cases, you can even set the closing date for the specific time that is most convenient for you. So if you need to close on the property within the next few weeks or would like to wait until a certain time when you no longer need it and close there on the spot, an investor is a good option to consider.
Difference Number Three: Agents Charge a Commission, Investors do not
One of the most crucial differences between working with an agent or an investor is the extra costs and fees associated with using an agent. A typical agent commission fee for a home in El Paso is around ~6%, which is $9,000 on a $150,000 house.
On the other hand, investors don’t list your house so there is no sale to a third party to charge a commission on. Investors make their money on the property by how they use it after they purchase it – not from the purchasing process. Most use the property for a rental unit or renovate them to sell on the market at a higher price to make money.
If you’d like to no more about the advantages of selling your El Paso home to a real estate investor like Level Cash Home Offers or just want to know what we’d offer for your property, give our office a call at 915-228-3324 or fill out the form on this page to speak with experienced El Paso Home Buyers.