I Need to Sell My House Fast in Brooklyn: What Are My Options?

Pros and cons of selling to a Brooklyn house-buying company

Still not sure if working with a Brooklyn house-buying company is the right move for you? Here’s a quick comparison of some of the most prominent pros and cons of this option.

Pros

• Fast offer: Cash buyers often provide a quick offer, sometimes in as few as 24 hours, allowing you to close the sale within a few days.
• Sell without repairs: You can sell your Brooklyn home in as-is condition, avoiding the need to make any costly repairs or improvements.
• No need for staging: You can skip the time-consuming process of staging and showing your home, freeing up availability in your schedule.
• Reduced closing costs: Some companies may help with or completely cover your closing costs, reducing the expenses you would pay in a traditional home sale.
• Guaranteed transaction: Cash sales eliminate the uncertainty of contingent offers, taking stress off your plate and providing a sure path to closing.
• Prevent foreclosure: A cash sale can be a lifeline to avoid foreclosure and protect your financial future.

Cons

• Lower price: Cash offers are typically below market value, meaning it’s likely you won’t get as much as you would through a traditional home sale.
• Fewer competing buyers: Without multiple buyers bidding, you miss the potential for competing offers that could drive up the sales price.
• Limited negotiating power: When you sell to a cash buyer, you typically forfeit the chance to negotiate on price and terms.
• Scam risk: Be cautious, as some companies may not be trustworthy. Do your research to avoid falling into the trap of a house-buying scam.

Erin Wheelock, a top-selling agent in New York City with over 17 years of experience, explains that while house-buying companies are certainly valuable for some people and situations, sellers should understand they will likely never get full market value.

“If you need the money, have to pay off your debt, and it works for you — absolutely, go for it,” she says. “Just don’t go into it expecting to get top dollar, because that company needs top dollar. You’re going to get what you can get for the trade-off of having an easy process with cash in hand quickly.”

Option 2: Hire a top Brooklyn real estate agent

Even if you need to sell your home quickly, hiring a top real estate agent could be a smart move in Brooklyn’s challenging market. A skilled agent knows the ins and outs of market trends and can help you attract serious buyers from the start. From handling negotiations and paperwork to marketing and pricing effectively, an experienced agent will work to maximize your profit, even under a tight timeline.

“We’re definitely going to help: A, get the higher price, and B, make the process the easiest it can possibly be because we’re doing it all for you,” Wheelock remarks.

Now, let’s explore how quickly homes are selling in Brooklyn’s current market and discover top agent insights to sell your home as quickly as possible.

How fast are homes selling in Brooklyn?

In Brooklyn, homes are spending a median of 83 days on the market before going under contract. Once a buyer is secured, it typically takes an additional 43 days to close the deal, bringing the total process to around four months.

According to Wheelock, inventory is up almost 10% over the same time last year. With about 4.4 months of inventory, there’s a balanced supply of homes, offering opportunities for both buyers and sellers. The median home price in Brooklyn continues to rise year over year, currently sitting close to $950,000, which reflects the competitive nature of the market.

Here is a snapshot of current real estate conditions in Brooklyn:

*Does not include the typical 43 days a buyer needs to close on a purchase loan.

Data source(s): Averages of multiple public transaction sites

Benefits of selling with a top Brooklyn agent

Don’t let the four-month timeline above scare you off — this is just an average, and working with a top real estate agent can significantly speed up your DOM while simultaneously maximizing your home’s value.

“Good agents know how to get in front of the most people possible, and I think we all know the more eyes on a property, the higher potential income you’re going to get for your sale,” Wheelock says.

Here, let’s explore some key benefits of working with a top real estate agent.

• Ability to sell for more: A skilled agent has the knowledge to price your home effectively and position it well to attract higher offers.
• Can generate a speedy sale: Experienced agents know how to draw serious buyers in quickly, speeding up the selling timeline.
• Accurate, effective pricing: Agents perform a comparative market analysis to determine accurate pricing for your home, avoiding lingering time on the market.
• Professional negotiation skills: With strong negotiation skills, agents can secure a favorable deal while sticking to your preferred selling timeline.
• Advanced marketing: Through elevated marketing strategies including virtual tours and social media, agents can showcase your home toa broad audience for a fast sale.
• Will know what to fix and not fix: Agents understand which repairs or upgrades are worth your time to help sell fast and provide a return on your investment.
• Contract savviness: A seasoned agent will help you navigate through confusing real estate contracts and understand buyer contingencies, streamlining the sale process.
• Can manage documents and disclosures: Agents are well-versed in New York state-specific legal requirements, ensuring you have completed the correct disclosures.
• Network of skilled professionals: A top agent can connect you with an array of professionals, including inspectors, contractors, and photographers. “We know who to partner with for staging, who to work with if [sellers] want to get their house painted, or things like that,” Wheelock says.
• Expert partner by your side: Lastly, an experienced agent guides you through the entire process, ensuring everything runs smoothly and answering your questions along the way.

How to find a top Brooklyn real estate agent

Finding the right real estate agent in Brooklyn can make all the difference in achieving a fast, successful home sale. HomeLight’s Agent Match platform analyzes millions of transactions and client reviews to match you with multiple top-rated agents in the Brooklyn market. Whether you’re selling or buying, HomeLight can connect you with an agent who has the right background and experience for your specific needs.

Expert agent tips to help sell your Brooklyn house fast

If you’re looking to sell your Brooklyn home fast, there are several agent-approved, easy, and low-budget steps you can take to streamline the process and attract serious buyers. Here are some insider tips to boost your chances of a quick sale:

• Price it right from the start: Avoid overpricing, which can cause your home to linger on the market. Setting a competitive price with the help of an agent will attract more offers.
• Highlight outdoor spaces: Brooklyn buyers value accessible outdoor areas, so emphasize your patio, balcony, backyard, or rooftop space to lock in appeal.
• Focus on curb appeal: First impressions matter! Enhance your curb appeal with charming accents like fresh florals, or give the exterior a deep clean by power-washing.
• Stage for remote workers: With more Brooklynites working from home, consider staging a home office in one bedroom to appeal to this growing buyer segment.
• Get a pre-listing home inspection: A pre-listing inspection can help identify any issues before they become deal-breakers for buyers, especially in older buildings.
• Offer a home warranty: Consider offering a home warranty to give buyers peace of mind, especially for those concerned about potential future repairs.
• Use professional photography: In Brooklyn’s competitive market, high-quality photos taken by a professional are key to helping your listing stand out on the MLS.
• Consider timing: Brooklyn’s real estate market is seasonal, so consult with your agent and use HomeLight’s Best Time to Sell Calculator to list at the optimal moment.

Wheelock recommends working around the home’s classic details when modernizing and making upgrades in order to preserve the original character and charm.

“One of the biggest trends that I’m seeing right now — even the new builds are doing a great job of it — is keeping the classic. So they may still keep the original molding, and they might keep the original shutters on the townhouse,” Wheelock says. “A lot of developers and builders and even homeowners are choosing to keep a lot of the original detail.”

Aside from that, Wheelock emphasizes the importance of a nice tried-and-true decluttering. Some Brooklyn homeowners have lived in the same 2,000 square-foot home without a backyard or storage shed for 20 to 30 years, so the amount of “stuff” can really pile up.

“[Decluttering] is a game changer out there if you want to stand out in front of other people,” she advises. “It’s not just cleaning and decluttering and staging with what you have, but it is get everything out, refinish the floor, do a fresh coat of paint, and have it properly staged, and you will get those people coming in.”

Wheelock recommends hiring a professional staging company to ensure your home is showing off all its best features. “If you’re not willing to do the work, then you just have to underprice the market,” she adds.

Ready to sell your Brooklyn house fast?

Whether you’re leaning towards working with a Brooklyn real estate agent or considering requesting a cash offer, the key to a speedy home sale is choosing the right option for your unique situation.

• If time is of the essence, a cash offer through HomeLight’s Simple Sale platform may provide the quickest and most hassle-free solution.
• Alternatively, hiring an experienced agent ensures your home is marketed professionally and priced to sell, earning you more profit as a result. HomeLight can connect you with top agents in Brooklyn.

If you’re unsure which route to take, consider exploring both options. Comparing a cash offer with an agent’s tailored advice can provide all the clarity you need to make a decision.

While selling your home quickly in Brooklyn’s current market may seem intimidating, HomeLight is here to help you through every step of the process. Armed with the helpful tools and resources in this article, you’ll be more than prepared to begin your home-selling journey with all the confidence and insights needed to achieve a fast sale.

Header Image Source: (IgorVetushko/DepositPhotos)