Sometimes you need to sell your house fast. Sometimes it doesn’t matter. If you find yourself pressed for time and wondering “how long does it take to sell my house with an agent vs an investor?” then this blog post will guide you through the answer…
You want to sell your house, and perhaps you need to sell in a hurry. Chances are, you arrived at this blog post because you’re hoping to find the best solution for you that sells your house as quickly as YOU want.
Before we get to the answer, it’s important to understand the difference between what an agent does and what an investor does:
When you sell your house with an agent, you are asking the agent to represent you in a sale and to try and find a buyer on your behalf. In other words, you’re selling THROUGH an agent to a buyer. This adds several hands to the pot that can only add to the timeframe you’re ideally looking for.
When you sell your house with an investor, you are actually working directly with the one who will be buying the house. In other words, you’re selling TO an investor (they are the buyer).
Now that you understand the difference, here’s how long it can take…
How Long Does It Take To Sell My House With An Agent Vs An Investor?
The Agent…
An agent needs to show your house to prospective buyers and try to convince them to buy. Therefore, they’ll want your house to be in pristine condition, and then they need to find as many prospective buyers as they can to show your house to.
Therefore, it can take weeks or months for you to fix up your house before an agent feels that it’s ready to list. And once the agent lists it, it can take months for the agent to find buyers to show your house to, and for one of those buyers to make an offer (on average, it can take 3-6 months… sometimes as long as 12 months for this to happen). And what people don’t realize is: if the buyer can’t get financing or gets cold feet in the deal then they can back out and you go through the process again.
Therefore, it can take months to sell your house through an agent – it all depends on how quickly you can get your house in “showroom condition” and how quickly they can find a buyer and whether the buyer goes through with the purchase.
Another factor that we see impacting the traditional route of a home buyer purchasing a home with an agent and a lender would be the higher interest rates. We all know that rates hit historic lows when the Fed reduced the prime rate in order to stimulate the economy as a result of the pandemic. What seems less apparent is that those who sat on the sidelines during that time are now even more afraid to take out a mortgage while the rates are much higher than where they were just over a year ago. Despite these rates still being near all time lows, home buyers aren’t taking the same risks they were when money was more abundant and much cheaper.
How Long Does It Take To Sell My House With An Agent Vs An Investor?
The Investor…
This part surprises most people: an investor can buy your house very fast – some investors can even buy in as little as 7-10 days if that’s what you want. That’s because the investor is the buyer (so little to no showings are necessary) and many investors (including us here at Sunrise Offers) buy houses in any condition so you don’t have to fix up the property either. Investors like us will buy your house for all cash so you don’t have to worry about financing falling through. Often times this could be the simplest process to have your home sold with the added benefit of much less headache than going through an agent.
So, should you sell through an agent or sell to an investor? That’s up to you. An investor is faster, so if speed is important to you, then you may want to think about selling to an investor.