Selling Your San Diego House When It’s Listed
In the world of finance and investment, timing is everything. Keeping an investment item like a unique comic book or collector’s card until its value depreciates is just as bad as holding onto real estate until interest rate hikes drive its value downwards.
With inflation rising to 9.1% — the highest spike in the past four decades — interest rate hikes are bound to increase further, dissuading buyers and causing housing prices to drop. In particular, the California housing market is projected to stagnate in 2023.
The wise financial decision would be to sell while profits can still be realized, preferably through a cash home buyer. However, selling real estate listed with an agency on the MLS can take time and effort. Read on to learn how to sell your San Diego house when it’s already listed with a real estate agent.
What Is an MLS?
A multiple listing service (MLS) is a cooperative service where real estate agents list each other’s properties under a unified system. Advancements in technology allowed these services to thrive online, with hundreds of regional MLSs found on a multitude of real estate agent websites.
In exchange for membership dues, licensed real estate brokers and agents gain access to information on properties within their immediate areas.
However, since only licensed agents and brokers are given access, buyers and sellers with listed properties cannot view the list. Also, having your property listed can be prohibitive in case you want to sell your property on your own or partner up with a cash home buyer.
This is why some people opt to remove their properties from the listing.
Getting Out of Traditional Real Estate Listing
Since sellers lack access, you can only call or contact the MLS and request that your property be taken off the list or site. However, this doesn’t mean that there’s no way to get out of the listing. In fact, you can’t even make any changes like updating property information and photos since these are technically MLS properties.
The process is simple.
You sign a contract when you partner with a licensed listing agent and give the latter the authority to sell your home. These contracts often contain an expiration date on their right to include your property in the listing — usually for a period of three to six months. One way of taking your property out of the MLS database is by simply waiting for the expiration date.
However, if you want to opt out earlier, you must contact your agent through a call or certified written correspondence to terminate your contract. The agent will then withdraw your property from the list. Note that you must notify the agent and not the MLS itself.
Once your agent confirms the withdrawal, don’t worry if it doesn’t immediately reflect on the MLS website. Delays are common, with some taking anywhere from a couple of minutes to a few days to show the change in status. Just monitor the situation through your agent every once in a while.
A Cash Home Buyer Is the Key
Once you’re able to get your property off the listing, you can get in touch with a cash home buyer like I Buy SD.
A cash home buyer is an investor or company directly purchasing real property with cash. These entities can secure a loan or sell another property before securing payment. Based on these, it’s easy to see the advantages of dealing with a cash home buyer.
Sell the SD House Fast
The most obvious perk is you get to sell your house fast for cash — without any hassle. There’s no need for troublesome mortgages or bank financing. Once a cash home buyer decides to acquire your property, they will immediately give full payment.
This is perfect if your property is projected to lose value as it gives you a quick way to dispose of it while still getting a relatively good price. You don’t even have to worry about repair-related costs since home cash buyers will give you a fair offer based on your house’s current state.
Learning how to sell my house fast San Diego, when it’s already listed with a Realtor is easier than you think. Take your California property off of the listing by talking to your agent. Then, you can seek an offer from a reputable cash home buyer. Please don’t wait for your property to completely lose value before you sell it, and don’t let simple hurdles like MLS listings stop you from acting.
At IBuySD, we pride ourselves on being San Diego’s largest cash buyers of houses. We provide complete transparency and give sellers fair offers. Visit our site to learn more.