Homeowners are oblivious to these 3 ways to sell a home

American homeowners are overwhelmingly confident they know how to sell their homes. But in reality, they might be overlooking a slew of great options for selling, according to a new study.

A whopping 94% of homeowners said they feel good about their ability to sell their home, according to a recent Sold.com survey of 1,000 homeowners.

However, more than half of those respondents admitted that aside from two well-known and highly publicized options — using a real estate agent, or using the for-sale-by-owner (FSBO) process — they don’t understand other, often overlooked options they could use to sell a home.

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Such options include selling:

  1. To real estate investment companies.
  2. Through discount/flat-fee brokers.
  3. Via online technology or auction platforms.

In fact, homeowners spend relatively little time examining their selling options, with 58% of former sellers admitting they spent less than three hours investigating both the method of sale and the choice of a real estate agent.

RELATED: Take a look at the salary needed to buy a home in the top U.S. cities:

Salary needed to buy a home in 25 biggest US cities
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Salary needed to buy a home in 25 biggest US cities

25. St. Louis, Missouri

Income needed for 20% down: $37,027

Income needed for 10% down: $41,655

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24. Atlanta, Georgia

Income needed for 20% down: $45,592

Income needed for 10% down: $51,291

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23. San Antonio, Texas

Income needed for 20% down: $47,158

Income needed for 10% down: $53,053

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22. Tampa, Florida

Income needed for 20% down: $48,013

Income needed for 10% down: $54,014

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21. Houston, Texas

Income needed for 20% down: $48,9678

Income needed for 10% down: $54,975

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20. Philadelphia, Pennsylvania

Income needed for 20% down: $48,948

Income needed for 10% down: $55,067

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19. Charlotte, North Carolina

Income needed for 20% down: $49,844

Income needed for 10% down: $56,074

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18. Dallas-Ft. Worth, Texas

Income needed for 20% down: $53,322

Income needed for 10% down: $59,988

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17. Chicago, Illinois

Income needed for 20% down: $53,973

Income needed for 10% down: $60,720

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16. Orlando, Florida

Income needed for 20% down: $54,116

Income needed for 10% down: $60,880

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15. Phoenix, Arizona

Income needed for 20% down: $55,479

Income needed for 10% down: $62,414

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14. Minneapolis-St. Paul, Minnesota

Income needed for 20% down: $55,845

Income needed for 10% down: $62,826

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13. Baltimore, Maryland

Income needed for 20% down: $61,216

Income needed for 10% down: $68,868

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12. Miami, Florida

Income needed for 20% down: $72,222

Income needed for 10% down: $81,250

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11. Riverside, California

Income needed for 20% down: $73,748

Income needed for 10% down: $82,967

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10. Portland, Oregon

Income needed for 20% down: $81,235

Income needed for 10% down: $91,389

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9. Sacramento, California

Income needed for 20% down: $84,683

Income needed for 10% down: $75,274

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8. Washington, DC

Income needed for 20% down: $86,667

Income needed for 10% down: $97,500

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7. New York-Newark-Jersey City, New York

Income needed for 20% down: $87,114

Income needed for 10% down: $98,004

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6. Denver, Colorado

Income needed for 20% down: $91,570

Income needed for 10% down: $103,016

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5. Boston, Massachusetts

Income needed for 20% down: $99,972

Income needed for 10% down: $112,468

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4. Seattle, Washington

Income needed for 20% down: $102,291

Income needed for 10% down: $115,078

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3. Los Angeles, California

Income needed for 20% down: $127,945

Income needed for 10% down: $143,938

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2. San Diego, California

Income needed for 20% down: $132,238

Income needed for 10% down: $148,768

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1. San Francisco, California

Income needed for 20% down: $201,205

Income needed for 10% down: $226,356

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In a company announcement, Matt Woods, president of Sold.com, says:

“The stark reality is consumers are choosing options that don’t necessarily align with their needs and are taking unnecessary risks with one of the largest financial transactions of their lives.”

How to sell your home for the best price

Before you sell your home, it’s important to take more than just a few hours to make key decisions that could have major financial ramifications.

Related: The Shortest Path to an Amazing Retirement

For example, if you’re going to use a real estate agent, finding the right agent can be an invaluable help in getting top dollar when you sell. As we report in “11 Tips for Pricing Your Home So It Sells for Top Dollar“:

“Agents do have an incentive to price a home lower in order to sell it, make a commission and move on to the next sale.

Agents with integrity can balance their needs with yours and can explain which strategies work best in your market. It’s critical to find an agent you can trust.”

The right real estate agent also can give you valuable insights into boosting your home’s curb appeal, which will go a long way toward getting your property sold for the right price.

Of course, you need to strike a balance between upgrading your home enough to attract buyers and not wasting money on renovations that will not pay off. To avoid the latter, check out “The 10 Worst Home Renovations for Your Money.”

So were you aware of the three lesser-known ways to sell a home? Share with us by commenting below or on the Money Talks News Facebook page.

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