The Honest Truth: How selling property to RoccoBuysHouses.com compares to traditional options

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1 The Honest Truth: How selling property to RoccoBuysHouses.com compares to traditional options How does We Buy Houses work We Buy Oklahoma City Houses Do you need to sell your house quickly? When you sell a house in today s market it can be frustrating at times. There are many houses on the market and we re made to believe that selling a house is like performing rocket science (it s not!). Depending on the location and quality of your property, this sale can take up to 3, 6, 9 or even 12 months in some cases! This quick guide will help you decide which option is best for your property and your needs. We ll outline three options for selling your house: 1. Working with a real estate agent 2. Sell it yourself (For Sale by Owner) 3. Sell your house to RoccoBuysHouses.com Each of these strategies are great in different situations and each property owner s situation is different. We ll help outline the pros and cons so you can make a decision that is best for your property. The 3 Options for Selling Your House #1 Work with a Real Estate Agent Working with a Real Estate Agent is the most popular way to sell a property. Real Estate Agents are experts at representing the buyers and sellers of real estate. The general process for working with an agent is: 1. You contact an agent and they visit your property. They can give a broker s opinion based on the sale of comparable properties of what the property will sell for on the retail market. 1

2 2. You sign a listing agreement with the agent that lasts a period of time (normally 6 months) where they exclusively represent you as a special agent and attempt to sell your property at retail prices. 3. The agent will list the property on the MLS (multiple listing service), market the property, and allow other agents to show potential buyers your property. Your property must be show-ready and comparable to other properties that are selling in your area. 4. If a property sells, the agent takes care of the paperwork and setting up a closing at a title company. The agent collects their fee (typically 3% for the listing agent and 3% for the buyer s agent). This fee is typically 6% of the total sales price of the property, this does not include closing costs or any repairs the buyer may negotiate. Agents should be experts concerning the Real Estate Market and have direct access to the MLS. Cost: For a $200,000 property, the typical commission cost would be $12,000. Not including closing costs or repair costs. Timeframe: At the time of this writing, the current Oklahoma City Real Estate Statistics indicate an average time of 90 days to sell a property. Pros: Agents are experts in most cases, have direct access to the MLS, take care of the marketing, showing the property, and putting together all the closing paperwork. Cons: Cost! It can be expensive because the commission is paid out of the proceeds of the sale at closing. Depending the location of your property, you may also end up fixing up any items that aren t perfect with your house or even paying some of the buyer s closing costs. Your house has to be in show-ready condition so that buyers can come into a clean, minimalistic, perfectly staged house at any time. Finally when the house does sell, you re at risk that your end buyer may back out, have financing fall through, or delay the closing date. This is the best option for: People that aren t in a hurry to sell their property and have the time and money to fix all the small things wrong with the property. Sellers typically get full market value because they wait to find a ready and willing buyer who s willing to pay full value for the property. #2 For Sale by Owner Selling the house yourself For Sale by Owner is a very popular way to sell a property. There are websites specifically aimed at helping people market their own properties. You have the legal right to sell anything you own, including your house. With the added capability of the internet, you can reach thousands of potential buyers across the world at any time of the day. 2

3 To sell your house yourself: 1. Determine the value of your home. Usually paying for an appraisal is the most accurate way to find the value of your home. Alternatively you could pay a Real Estate agent a fee to find the value of your home based on comparable sales. 2. Take pictures and video of the property. Compile this visual information with actual information about the property including number of bedrooms, bath, square footage, garage, upgrades, and any property disclosures. 3. Market, Market, Market! You have to market the property to get it in front of potential buyer s eyes. You can do this with sites like craigslist and Zillow. Many people also buy advertisements in the local newspaper. 4. You handle all the showings, offers, and eventually the paperwork for closing at a title company. This isn t rocket science, but can seem tedious for those walking through the process for the first time. 5. You and the buyer go to a title company and finish the sale of the property. Cost: The only marketing costs are the dollars spent listing the For Sale By Owner property in advertisements. Many buyers will still want you to fix up the items that are wrong with the property and you will have to pay the buyer s real estate agent fee (3%). On a $200,000 house this is typically $6,000 plus marketing costs and the cost of fixing all the problems with the property. Timeline: This is heavily reliant on your ability to market the property effectively. Typically FSBO properties sit on the market longer than those listed with realtors. Like stated before, agents are experts on the market and are more efficient that homeowners at selling properties. At the time of this writing according to market statistics, FSBO have an average time on market of 6 months in Oklahoma City. Pros: You can save money by selling the property yourself. You have control over every aspect of the situation. Cons: It s a lot of work to sell a house, especially if you re not a real estate professional. The largest drawback of going this route is the amount of time it takes to sell the property. This is the best option for: People who don t need to sell quickly and have no urgency to move. This is also great for people who have sales experience and enjoy having full control of every aspect of the selling process. You must be able to spend a large amount of time selling your property and enjoy the negotiation process. 3

4 #3 - Sell your house to Rocco Buys Houses: When you work with Rocco Buys houses you re working with a team of local Oklahoma investors who use properties as a source of income to feed their families. We do this by fixing properties up and flipping them, buying and holding rental properties, and selling properties. The process of selling your house to Roccobuyshouses.com is: 1. You call RoccoBuysHouses.com at I BUY OKC ( ) and submit the information about your property and situation. 2. Leave your house AS-IS and in it s current state. We don t mind messy, dirty, or ugly. An investor will come evaluate the house, determine a value, document the repairs needed, determine your goals, and make an offer that fits the investment strategy of the team. 3. You either Accept or Decline the offer 4. If it s a fit, closing will occur at a title company quickly. Since Rocco Buys Houses purchases properties with cash, you don t have to worry about fixing any of the problems with your property. You sell the house AS-IS and the purchase happens quickly. 5. You can choose to go to the title company at closing or not. If it s inconvenient we ll simply mail you your check. Costs: The costs to sell to RoccoBuysHouses.com are very low. There are no commissions, fees for paperwork, or headaches with knowing a foreign process. This alone immediately eliminates thousands of dollars in costs from any traditional way of selling a property. The main costs of working with Rocco Buys Houses is the fact that investors don t pay full retail value for properties. Since this is the way we feed our families at the end of the day, the purchase price has to make sense to our business model. Most folks are okay with this, since we re taking on all the risk of a property that may need repairs, might not re-sell on the MLS, and will have holding costs (Utilities, Bank Fees, Contract Fees, etc.) until we can either sell it or rent it months down the road. This is similar to trading a car at the dealership. Most people trade their car to a dealer to eliminate the headache of selling the car. We all know the dealership pays a discounted rate and will turn around and sell the car for a markup and make profit so they can provide for their families. Timeline: The timeline to sell your house to RoccoBuysHouses.com is very quick! Most closings occur within 7-30 days! Offers typically take less than 48 hours. 4

5 Pros: You don t pay fees or commissions and don t have the headache of showing your property hoping someone will buy it. Your house is sold AS-IS in it s current state (even with all of your junk still in the property if you so choose). Cons: You sell below market value for the trade-off of not having the hassle of selling the property and getting cash quickly. This is the best option for: People who need to sell quickly and get cash fast. This is also great for folks who don t want to deal with repairs, cleaning, or showing their property to potential buyers. We re able to buy your property at a fair price that leaves us room for profit and you re able to get out from under a house that s causing you stress. Conclusion In the end there s a good option for everyone who wishes to sell real property. If you have plenty of time and no rush to sell, you could go the FSBO route and sell a house yourself. If you have time, don t wish to mess with the paperwork, and plenty of equity in your home you may be okay paying for an expert real estate agent. If you have to sell quickly or need cash fast, you should consider working with RoccoBuysHouses.com. There are many situations that we have helped Oklahomans with including: Divorce, inherited properties, vacant properties, eliminating double payments, and bad situations with tenants. We wish you the best of luck with the sale of your property! We hope this guide has assisted you in outlining your options when selling a house. If you have any questions about how RoccoBuysHouses.com can help you, please contact us at We ll let you know how much we can help you reach your property goals whether or not we buy your house. We re Oklahomans with the hearts of teachers, we d love to speak to you! - RoccoBuysHouses.com P.S. If you re still unsure? Take this test: Can you wait 3-6 months to sell your property? If not, call us!