For quite a few years now I have bought and sold real estate in Oklahoma City through my company, 18002SellHomes. Like most of us, I’ve had to learn a few things as time goes by, and make changes when necessary. Some things seem to remain constant, however, and they are foundational to my success as an investor. Whenever I set about to
sell my home in Oklahoma City, I choose to do the things that always work to get it sold.
In this article I’m going to share my thinking process with you so that you can begin to think like an investor, too. Usually, the first thing I consider involves hiring a real estate agent to help get the home on the market. Sometimes I do it, sometimes I don’t, and I generally decide based on the features of the home and if I have time to do the work myself. Marketing, showing and closing a sale on any home takes time. It’s a job that I have to do myself if I don’t hire someone else to do it. You could think about it like changing the oil in your car. Just because you know how to change your own oil doesn’t mean it’s a good idea to take the time to do it. Your time may be better spent on other activities that produce more income, right?
If a home needs my personal marketing skills, such as owner financing or a lease with option agreement, then I usually make a decision do the marketing and closing tasks of selling the home myself. Most real estate agents are not as eager to take care of transactions that are not an outright sale because it can delay or avoid their commission. But if standard marketing and closing procedures will work for buyers using cash or conventional financing to buy the home then I often choose to hire an agent. That way I can invest my time working on other properties.
One way I keep all my options open is to sign an open listing agreement with one or even several agents, giving them all the opportunity to
sell my home and get paid for their sale, but only if they sell it. No agent gets paid for a listing. An open listing agreement specifies that I retain the right to sell my home myself, which means I have no obligation to pay a commission to an agent. Open listings are useful for sellers who have the skills to close a real estate sale themselves, and I have used open listings successfully through 18002SellHomes in Oklahoma City on many occasions.