THE BLOG
09/13/2013 11:09 am ET | Updated Nov 13, 2013

The One Big Question Before You Sell Your House

The debate surrounding the use of a quick sale estate agency versus cash home buyers is not a new one. People go back and forth debating the benefits and pitfalls of using one over the other. Knowing the advantages and disadvantages of each will allow you the freedom to make this decision on your own.

The Advantages of Cash Home Buyers

If you want to sell your home quickly, a cash home buyer offers advantages. You can skip the process of listing your home, advertising the sale, and accommodating any number of interested parties who are interested in doing a walk-through.

The sale of your home is fast and simple, which allows you the freedom to move and purchase a new home. There is very little hassle and none of the work associated with traditionally listing your home for sale.

The Disadvantages of Cash Home Buyers

The major disadvantage of a cash home buyer is price. Cash home buyers usually pay only 70 to 80 percent of your home's worth. This means you will lose out on a significant portion of your potential profit when selling your home.

If you don't know the value of your home, some dishonest cash home buyers might offer less than the standard cash rate. It's important to know everything you can about your home's value before you accept an offer from a cash home buyer.

The Benefits of a Quick Sale Estate Agency

Quick sale estate agents are the people who do the bulk of their work via email and telephone. This preserves your schedule from tedious meetings. Additionally, they are known to sell homes much more swiftly than traditional real estate agents.

In addition, quick sale estate agents are adept at finding buyers for your home that are already pre-qualified. This eliminates needless showings to lookers who can't actually afford to make an offer, or who make an offer only to find out from their financial institution that they don't qualify for the amount needed to purchase your home.

The Disadvantages of Quick Sale Estate Agents

One of the down sides of quick sale estate agents is that they tend to appraise your home for less than its actual value. You'll want to do a separate appraisal of your home so you know the actual value. Estate agents tend to furnish a number that's about 10 to 15 percent lower than your home is actually worth.

Quick sale estate agents are looking to sell your home immediately. So the price they'll try to get you to sell for is often substantially lower than the price you might be able to get if you listed your home in the traditional manner.

Comparing the Two

In comparison, a quick sale estate agent is a better option for sellers than a cash home buyer. Even though estate agents value your home at a lower price, they will still sell your home quickly and for more than what cash home buyers are typically willing to offer.

It comes down to a decision to list your house with a traditional real estate agent for a price that might be too high, which means it may not sell, taking a quick cash offer that's much lower than your home's value, or using a quick sale estate agent. The choice to use a quick sale estate agent is going to be the best in this situation.

You can easily counteract the negative aspects of a quick sale estate agent by doing your own research and having your own appraisal done. What you don't have to worry about is your home sitting on the market for months on end without getting any offers. A quick sale agent wants your home sold right away and is motivated to make that happen.