Are you thinking about moving? Want to take your time about it and make sure you get a good deal on your mobile home? Maybe you already know that selling retail is an option, but you’re still nervous. You don’t know where to start or if selling retail is even a good idea.
Many mobile home owners eventually want to sell their home and move on – either to another mobile home or to a stick-built. The problem is fear. Some mobile home owners get contacted by a wholesale buying company that offers cash for their mobile home and promises to take it off their hands in short order. But that leaves questions and sometimes a load of confusion. Should you take that low cash offer? Or wait until you get a better deal?
We’re going to answer all of these questions and more in today’s seller sit-down.
Taking the fear out of selling
In this series, our goal is to take the fear out of selling your mobile home. In fact, it’s one of the things we’re dedicated to as a company. Previously in the seller sit-down series, we discussed why you don’t have to fear mobile home park owners. And we also took a look at how to sell your home as fast as possible.
So grab a cup of coffee and join us today as we talk about why and when you might want to sell your mobile home retail. We’ll give you all the details you need to make confident decisions and stop worrying about your upcoming move!
Selling retail: What it means
Real estate jargon can be confusing, can’t it? It’s not often that the ordinary person thinks of selling homes in terms of “retail” and “wholesale”. The concept does, however, exist. Investors use these terms often because, unlike you, they buy and sell property all the time.
In a way, a mobile home investor’s business isn’t much different than Walmart’s or Amazon’s. Mobile home investors buy “stock” or “inventory” (in this case, mobile homes) for a wholesale price and sell it for a retail price.
Actually, whenever you sell a home, either manufactured or stick-built, to another individual, you are engaging in retail selling. You’re selling the home to that person for their own use, not so they can turn around and sell again as-is for a higher price. Buying to sell as-is for a higher price would be termed wholesale. With retail selling, you’re selling your home to a buyer so they can either live in it or fix it up.
Selling retail vs. selling wholesale
There are some key differences in selling wholesale and selling retail in the real estate market. Let us explain.
Who you’re selling to
The main difference between selling retail and selling wholesale is the buyer. When you sell retail, often you’re looking to get the attention of the buyers who will pay good money for a nice home. The best way to do that is by listing your home with a local real estate agency. This, of course, often involves hiring a real estate agent.
Selling wholesale, on the other hand, means selling to a broker, investor, or buying company. They’re the people who are interested in mobile homes purely as a business investment. Mobile homes bring in a good profit if bought wholesale and sold retail.
What you’re selling for
If you sell your mobile home wholesale to an investor or buying company, you have a good chance of selling fast for cash. That might sound like just a catchy call to action, but it’s true! When you sell wholesale, you may be making less money on your mobile home than you would if you sold it retail. But the upside is that you’re selling fast.
With the closing time on your home cut down to mere hours, you’re free to get out from under and move on with your life.
Selling your mobile home retail works very similarly to selling a stick-built home. You’ll probably end up going through the same outlets (using a real estate agency or going the for sale by owner route), your closing time will be standard, and you’ll move in a more leisurely manner.
Selling wholesale works well for people who have already moved or need to move within days. That might be you. We talked all about selling your home fast in our last seller sit-down, so is speed is your number one concern, back up and check out that post.
Why you might want to sell retail
If you’re interested in selling your mobile home retail, there are two reasons why you might want to do that.
You see a money-making opportunity
You can’t make a fresh start in a new home if you spent every available penny just to buy and move into it. It may be that the only way you can make the whole moving situation work is if you make money on your current home.
If this is the case for you, as it is for the majority of homeowners, then you should strongly consider selling retail. Don’t rush to make a deal with a buying company and move out if you know that isn’t the smartest option. It can be tempting, because who wants the liability of an unsold mobile home on his hands? But don’t settle for less than what’s good for you and your family.
Time isn’t a problem
For some mobile home sellers, time is of the essence. Because of family, job, or situational circumstances, they need to move – and fast. However, if your calendar has a little flexibility, it may be that selling retail is your best option.
Maybe you and your spouse are empty nesters, looking for a home to retire in – with space for grandkids someday. Perhaps you’ve been saving for a few years and finally think you found your dream home. You’re moving because you want a bigger, more comfortable living space.
There are hundreds of other examples, but you get the gist. Maybe, for whatever reason, selling your mobile home right now isn’t your biggest priority.
When you should sell retail
Now let’s talk about when you should sell retail. We’ve listed five criteria below. If you and your mobile home tick any or all of these boxes, you should probably be looking to sell your mobile home retail.
#1 You have time on your side
Again, we want to stress this point. If you have a little time before you need to move, consider selling your home retail. It’s probably your best option.
We’re all for selling wholesale. We actually buy wholesale at US Mobile Home Pros. But if you have time on your side, making money on your house is your biggest priority. It’ll give you a boost, and that is why we advocate so strongly for selling retail when you can!
#2 Your home is in like-new condition
When your mobile home is in particularly good condition, you should seriously consider selling retail. Why? Because mobile homes get worn out fast. And because of this, unfortunately, they depreciate at a far faster rate than any stick-built home.
Since manufactured homes aren’t built to last and are often run-down, a mobile home that is in pristine condition is a rare gem. If you sell your like-new home retail, you have a good chance of receiving multiple bids and walking away with more money than you initially asked for.
If you’ve only been living in your mobile home for a few years and it hasn’t sustained a lot of wear-and-tear, this is your chance to sell it for more than it would be worth wholesale. And we’re not saying that just because your mobile home is well-used you shouldn’t try to sell it retail! Not at all. Having a like-new mobile home is just a plus. You can still sell your home retail even if it’s a few decades old.
#3 The market is ripe
Are houses in your area selling fast at high prices? Have you noticed a recent increase in the number of people moving to your state, city, or neighborhood? These are sure signs of a seller’s market.
Currently in America, most real estate markets are seller’s markets. That just means that there is a low supply of homes and a high demand from buyers. When there aren’t enough homes to go around, the price of homes goes up as buyers bid against each other.
Observe your local housing market, and in particular, the mobile home market. If there are signs of a seller’s market, your chances of selling retail successfully just went up.
In a ripe market, houses sometimes sell in mere days. So try to pinpoint when, during the year, houses sell best in your state. In most states, the sweet spot is July. But do a little research on your state’s real estate market, since this can vary. You might end up deciding to aim for a May, June, or August sale.
Understanding how the local real estate market ebbs and flows can help you sell successfully (and fast). You can leverage that knowledge either by waiting, if the market is at a low point, or by selling right away if it’s at a high.
#4 Your park is popular with buyers
Similarly, if you live in a park, take a look at the stats. Does your park have a healthy community that people are drawn to? How many new families have moved in over the past couple of years? If your park is stagnant with all the same people living there as when you moved in, selling retail could be harder.
On the other hand, if your park is popular and has a healthy number of people moving out and moving in, selling retail can be the perfect move.
#5 Money is more important than moving fast
And lastly, remember that even if moving fast seems like a priority, sometimes it’s okay to wait. Know for sure what your priorities are before making the decision to sell retail or wholesale. And if it turns out that money is more important than moving fast, then don’t feel pressured to sell your house quite yet. Sit on it for a bit and take time to prepare.
How we can help you sell retail
Our focus here at US Mobile Home Pros is buying mobile homes wholesale. But that doesn’t mean we can’t help you sell your home retail. We have an extensive blog archive full of relevant articles, plus an easy-to-use value calculator.
Our value calculator gives you the tools you need to analyze your mobile home, all in one place! You’ll get reports including:
- Similar homes and what they are selling for
- Live updates on market changes
- National and local data on the mobile home market
- Reports that are available to print for easy access.
If you have any questions, don’t hesitate to reach out to us. Whether you want to get to know our value calculator better or you’ve decided to sell your home wholesale, we can give you answers, offers, and more.
And of course, if you should decide against selling retail, we’re here for you. We buy mobile homes all around the country, and often we make cash offers on homes within a few hours.
Should you be worried?
Worried about selling your mobile home retail? You shouldn’t be. Remember, there’s a time and place for selling wholesale. And yes, buying companies and investors all around the country make it easy to sell your mobile home fast. They offer cash and take your mobile home off your hands in a matter of days. But is that method the answer to all of your selling fears?
Not every time. You should sell retail when you can.
And don’t be nervous about selling your mobile home retail, either. It’s actually a lot simpler than selling a stick-built home. But if you’re still unsure and want more advice on how to find a good buyer for your mobile home, check out our tips on how to tell if a buyer is legit.
