Do Redfin Hot Homes Sell Faster?

Do Redfin Hot Homes Sell Faster?

Making huge capital gains is only part of the process when it comes to home selling. For some, a speedy sale is also important. For most home sellers, getting a good deal on both of these features is golden. Various platforms tap into this need to get sellers to sell with them, one of these is Redfin, with their ‘hot homes’ feature. However, do Redfin hot homes sell faster?   

Do Redfin Hot Homes Sell Faster?

No, Redfin Hot Homes do not necessarily sell faster. Redfin even claims that sometimes regular homes even sell faster than a ‘hot home’ would. This means that having your home listed in that category is no guarantee of a fast sale.   

Having established that a home getting listed as a Redfin Hot Home isn’t a guarantee that it would sell faster, it might interest you to know that there are quite a number of factors that could increase the likelihood of your home selling quicker. 

Realtor showing a home for an interested family

Amongst these are:

  • Your choice of a realtor
  • The state of your property 
  • The marketing techniques employed. 

Below are a few tips that you might find helpful in your quest to sell your home quicker:

Choose the Right Realtor for You

Making use of REALTOR counts as the first and most effective step you could take towards getting your home to sell faster. A realtor’s job is to make the sales process less complicated and more satisfying in terms of capital gain and speed. There are two types of realtors:

Traditional Realtors

Traditional realtors charge 6% out of your sales price, typically equally divided between the listing agent and the buyer’s agent. This means that if your home sells for $500,000, you part with $30,000 in commission fees. 

Flat Fee Realtors

Flat fee realtors are an excellent way of getting your home to sell faster. An even bigger advantage is that you get to save some extra cash while at it. Flat fee realtors charge an agreed-upon flat fee as commission. This does not change, irrespective of your home’s eventual price value.

This gives you an idea of the exact amount you would be parting with right from the beginning of the sales process.

For instance, with CA Flat Fee, you only have to pay a fixed amount of $5,000 as a listing fee, even if your home sells for $500,000. Whereas, with a traditional realtor, 3% listing fees sum up to $15,000. This implies that by using a flat fee realtor, you get to save $10,000. On a $1,000,000 sale your savings go up to $25,000!!!

Flat fee realtors showing their marketing plan to clients

For a listing fee of $5,000, using a flat fee realtor such as CA Flat Fee would provide you with the following:

  • Expertly designed local and social media marketing
  • Free excellent home photography
  • Virtual tour through which potential buyers could assess the home without being physically present 
  • Managing showings
  • Negotiating offers with potential buyers
  • Managing all paperwork
  • Handling the closing
  • Local experts that are dedicated to finding you the best deal to sell your home   

Set an Attractive Price

Setting a competitive price for your home is one thing that could help speed up your sales. Generally, homes that have fair prices tend to get more buyers’ interest, than homes with unrealistic high prices.

One strategy you could employ is pricing your home slightly lower than similar homes in your neighborhood. This makes your home a top choice over others in the same area. Also, listing your home for a lower asking price ensures that your home shows up in more price-filtered searches, thereby increasing the number of views it gets.  

Remember, if you overprice, your home might stay longer on the market, and you ultimately find yourself having to sell the house for a ridiculously lower price, which implies losing on both ends. Typically, your CA Flat Fee realtor could help you set a reasonable price. 

Follow Through Any Repairs and Reconstruction

Damages within the house could deter potential buyers. If any of these exist, they should be fixed promptly:

  • Loose or broken tiles
  • Spots with peeled or marred painting
  • Leaky faucets
  • Broken or loose door handles

Quality Photography

You might find it easier and less expensive to take pictures of your home with your smartphone. However, you should know that homes with clean and professional photos like the one that your CA Flat Fee realtor would provide you could ensure a higher chance of your home attracting buyers quicker.

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Consider Sales Incentives

Spicing your sale with irresistible offers is another great way of getting potential buyers to stay. Here are certain things you could implement to convince buyers that your home is a great choice:

  • Upfront repair of damaged objects within the house
  • Settling a part or most of the buyer’s closing costs
  • Proposing to add upgrade gadgets such as the air conditioning system, plumbing, heating system, that are not usually part of sales. 

Flexible Showings

It is important for you to be flexible and cooperative with showing requests. Try to free your schedule when necessary to ensure your availability for physical house tours. Keep in mind that until people see your house, they would not buy it. 

Realtor handing out the keys to the new home owner

Also, in case of a pretty tight schedule, holding an open house might be your best and easiest chance at having several buyers present at the same time. However, ensure that you prepare the home for this influx of buyers by:

  • Cleaning the floors, walls, and windows.
  • Positioning the furniture beautifully
  • Providing snacks and treats
  • Keeping the lawns well-manicured 

Related Questions

How Can I Sell My Home Faster?

One practical way to speed up your home sale is by engaging the services of a realtor. For instance, CA Flat Fee realtors have a massive network and a great marketing strategy that could get your house to sell in no time.

Are Realtors Better Than Redfin?

Redfin has some upsides, however, if you’re looking to make a speedy sale at a prime price, a flat fee realtor may be the best call.

Conclusion 

Getting your property listed on Redfin Hot Homes is not your only chance of getting it to sell faster. And in terms of capital gains, it may not be your best choice either. Implementing some of the tips discussed above, as well as consulting flat fee realtors might do you a whole lot of good. 

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What Commission Does 72Sold Charge?

What Commission Does 72Sold Charge?

72Sold is an Arizona-based firm that promises to sell homes within 72 hours or 8 days. It is an attractive alternative for homeowners who want to quicken the home-selling process. According to 72Sold, homeowners don’t have to compromise on the selling price.  The homeowners often wonder if the 72Sold’s commission is much higher. In this article, you will learn about the commission that 72Sold charges to sell the home within 8 days.  72Sold’s Commission Structure The commission charged by 72Sold is comparable to what the traditional agents charge. The commission range is between 5% to 6% of the home’s final price. This rate covers both the listing agent’s fees and the buyer’s agent’s fee. This commission is split between these two parties. They get around 2.5% to 3% each.  Traditional Agents vs 72Sold Commission The commissions charged by the traditional agents are similar to 72Sold. Besides that the traditional agents may take some extra fees. They usually charge additional marketing costs for professional photography and staging. Also, the traditional agents may take  administrative fees that increase the overall cost. Flat Fee Agents vs 72Sold Commission Flat fee agents like Ca Flat Fee charge a fixed rate rather than a percentage of  the selling price. But the overall cost of flat fee agents can be similar to the commission structure of 72Sold. The flat fee agents take some additional charges for marketing and open houses. You should evaluate if the quick sell is justified to trade off against the fixed rate of flat fee agents. Hidden Fees  You have to pay the closing costs and some hidden fees regardless of the agent you select. The closing costs are escrow fees, transfer costs, and insurance. You also need to prepare your home to make your home appealing to the potential buyers. For that, you have to bear the repair and maintenance costs.  Alternatives to 72Sold Though 72Sold offers a faster selling process within 8 days, this commitment can’t be guaranteed. The homeowners can opt for other trusted options like traditional agents, flat fee agents, and discount real estate brokers. Homeowners can also sell the home on their own (FSBO).  The discount brokers charge 1% to 2% of the selling price. Homeowners who are cost-sensitive may find this alternative reasonable. But the discount brokers may offer fewer services and the level of service may vary.  Is 72Sold Worth It? Homeowners whose house is located in a demanding market may find the 72Sold as a perfect option. As they offer to sell homes within 8 days at a higher price, they attract many sellers. However, you will have to pay similar fees to the traditional agents and other alternatives. You may also miss opportunities to grab a higher price. You can surely boost up your earnings by comparing the real estate agents to choose the best one.  Conclusion  Homeowners who are looking for a faster home-selling option may opt for 72Sold to sell their house. They can also consider other options like the flat fee agents and traditional real estate agents.  For example- the flat fee agents can guarantee the highest possible sale price at a fixed commission rate. By evaluating the prominent platforms, sellers can pick the right option according to their priorities. 

How to Buy a House in California? 

How to Buy a House in California? 

In America, many people dream of buying a house in California- the Golden State. California offers the diversity of big cities like Los Angeles. Then again you can also enjoy the tranquility of Santa Barbara. But buying a house in California can be confusing, especially for first-time homebuyers. According to the California Association of Realtors (CAR), California’s median home price is expected to be $860,300 in 2024. So, you should know the appropriate process before deciding to invest. This article will guide you through the steps to buy a house in California.  5 Steps to Buy a House in California Financial Preparation At the very first step, assessing your financial situation is essential. Only then you can create a realistic budget. Home affordability calculators will assess your income, expenses, and debts and evaluate your mortgage payment ability. Houses in California are indeed expensive. But the cost varies with the location.  How Much Do You Need for a Down Payment in CA? 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Selling Your House with a Mortgage in USA

Selling Your House with a Mortgage in USA

They say that buying a house is one of the most stressful experiences in life you’ll ever encounter, and while that may indeed be the case, there isn’t enough talk about the hardships associated with selling a house, especially one with a mortgage.   Despite the endless paperwork associated with selling a mortgaged property, we’ve lately seen a sharp increase in the amounts of homeowners selling their homes, despite them still being mortgaged.   Those looking to sell house with mortgage USA may wonder where they stand legally, and indeed, how easy selling a house with an outstanding loan actually is. Can you sell a house with a mortgage, and if so, just how easy is it? 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Providing you have enough equity to pay off the mortgage in full when the deal closes, there’s nothing stopping you from selling a house with an outstanding loan, I.E a mortgage.   Benefits of Selling a Mortgaged House   Despite being perfectly legal and common, some of us may be wondering whether it’s the right decision to selling a house with a mortgage.   Here are a few benefits associated with selling a house with a mortgage.   You can use profit from selling a mortgaged house to put toward your next property. If you are downsizing, you can keep the profits once your previous mortgage has been paid off. If you’re upsizing, you can use profit from selling a mortgaged house to put toward a down payment.   What Happens to My Mortgage When I Sell My House?   In a typical home sale, unless the real estate market is going through a very bad patch, you should be able to sell your property for more than you owe on your mortgage.   By paying off your mortgage over the years, you will have accrued equity in your home. This can then be cashed in on once you sell up.   When a house sale closes, between the mortgage loan and the down payment, the buyer will provide the funds at the settlement that are equal to the sale price of your home. You can then use these funds to pay off any equity loans, closing costs such as agent fees ETC, and of course, the outstanding mortgage balance.   Can I Sell my House If I Owe More Than It’s Worth? (Underwater Mortgage)   Selling underwater mortgage house issues are also fairly common in the real estate world. 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This will, however, negatively impact your credit score.   How Much Equity Do I Need to Sell My House?   In truth, there is no clearcut answer to this question because it depends on a number of factors and circumstances.   A general rule of thumb, however, is that you should aim for around 15% if you wish to upsize, or 10% if you’re simply looking to relocate and purchase a similar-sized property.   What Are the Closing Costs for Selling a House with a Mortgage?   As far as closing costs when selling with a mortgage, again, there is no clear and concise answer to what they will be because each sale will be different. As a general guide, expect closing costs of between 2% and 6% of the total mortgage loan amount.   How Long Does It Take to Sell a House with a Mortgage?   How long is a piece of string? The simple fact of the matter is that we can’t give you a precise answer to this question because there isn’t one. You could list a mortgaged house for sale and find that it sells in less than 7 days, or it could take months, or even remain on the market for years.   Statistically however, as of March 2023, it took on average 54 days to find a buyer. Does this mean that your house will sell in that duration of time? Absolutely not. It could sell much quicker, or it could take much longer. It should be noted that, as soon as the Fed begins implementing the projected three interest rate cuts later in 2024, property sales should start speeding up.