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Alternatives to a flat fee MLS service
Before you make the decision to use a flat fee MLS service, it’s best to explore your options to ensure you’re making the right decision for you. As we mentioned earlier, your home is likely your largest investment, and you’ll want to make sure you’re well prepared to maximize your profits on the sale of the property.
Option 1: Flat fee real estate agent
A flat fee real estate agent offers to list and sell your home for a flat rate rather than a percentage of the home sale. Unlike a flat fee real estate service, this option will give you the hands-on expertise of a real estate agent throughout the home sale process. And while the level of service will vary from agent to agent, you likely won’t receive the same level of support, or negotiating power, of a commission-based agent who is incentivized to get you the highest possible price for your home.
Option 2: Discount real estate brokers
You can seek out the services of a low-commission or discount real estate broker. These companies or agents are typically more expensive than flat fee MLS service, but they will accept a reduced commission and often still provide some of the basic services and support you might receive from a full-commission agent.
Option 3: Full-service, experienced real estate agent
Using a top real estate agent in New Jersey provides many benefits beyond having your home listed on the local MLS. According to Greenblatt, when he’s representing sellers in New Jersey, his job is to make the home sale process as simple as possible for his sellers by taking as many tasks off their plates as possible.
He also takes care of the expenses related to photography, videography, and staging the house. “When you hire a professional real estate agent, there are usually no upfront, out-of-pocket costs. I know when I sell houses personally, I bear that risk. So if the house doesn’t sell, the seller doesn’t lose anything.”
Other benefits of working with a professional real estate agent include:
“At least in my area, real estate agents are also going to take care of the contract,” Greenblatt says. “Coordinating the inspection, the closing, and taking care of the behind-the-scenes paperwork are things most homeowners don’t think about.”
At HomeLight, our data shows that the top 5% of real estate agents across the U.S. sell homes for as much as 10% more than the average real estate agent. In just two minutes, we can connect you with top real estate agents in your area using our exclusive Agent Match platform.
What if I need to sell my New Jersey home fast?
Another option for sellers is to seek a cash offer from a house-buying company, such as an iBuyer or a We Buy Houses investor group. If you need to sell quickly, or your house needs a significant amount of work and you intend to sell as-is, these could be good options for you.
One of the most convenient ways to sell a home fast is to use HomeLight’s Simple Sale platform. When you sell with HomeLight, you can skip the headaches and hard work that typically go into the home-selling process and receive a no-obligation cash offer in as little as a week. If you accept an offer, you can close in as few as 7 days.
If you end up going the for sale by owner (FSBO) route and using a flat fee MLS service in New Jersey, the Simple Sale platform is also a great tool for determining what your house would sell for on the open market — so you can price accordingly.
What else should I know about selling a house in New Jersey
New Jersey does have disclosure laws that require sellers to disclose all potential defects to the residence — this includes issues (or past issues) that might not be easily identified or picked up during a home inspection.
Sellers also need to consider the specific requirements of the township where their house resides. “In New Jersey, every town is a little different,” Greenblatt says. “You need to determine what the town requires when you’re selling a house.”
And while a real estate attorney isn’t required, it is a good idea for FSBO sellers to have one available throughout the home sale process to help ensure all documents are filled out and filed correctly.
Ready to sell your New Jersey home?
As you prepare to sell your New Jersey home, your first step should be understanding your priorities. If maximizing your profits is most important to you, statistics prove that working with an experienced real estate agent who can price your home accordingly and negotiate on your behalf is the right way to go.
On the other hand, if a quick, hands-off sale sounds appealing, working with an iBuyer or using the HomeLight Simple Sale platform may be the right decision for you.
If you do decide to sell your home yourself — with or without a flat fee MLS service — do your research first so that you understand the logistical and legal obligations of selling property. “There’s a lot of crazy stuff that goes on in the background,” Greenblatt says. “If you’re not in the industry, you’re not going to think about these things.”
Editor’s note: This post is for educational purposes only. Links and mentions of flat fee MLS New Jersey companies in this post do not constitute endorsements.
Header Image Source: (Jimmy Woo Man Tsing / Unsplash)
