If you’re considering selling your house, you’re likely wondering how to maximize your profits. One crucial factor to consider is who you hire to sell it. If you reside in the Southeast, one viable option is Garrity Traina, a real estate brokerage that offers various methods to sell your home in select markets. This article will give you an overview of the company, its operations, and whether it’s a suitable fit for your needs.
What is Garrity Traina?
Garrity Traina is a reputable real estate brokerage based in Alpharetta, Georgia, just north of Atlanta. It was established in 2016 by its founder, Mark Spain, who left his agent position at Keller Williams to start his own firm. Currently, Garrity Traina has multiple offices across the Southeast and operates in Georgia, Tennessee, North Carolina, South Carolina, Florida, Alabama, and Texas. The company provides services for selling, buying, and renting homes.
How does Garrity Traina operate?
The company operates similarly to most real estate brokerages. They connect buyers and renters with a Garrity Traina agent who assists in finding suitable options. For home sellers opting for a traditional listing on the open market, a Garrity Traina agent conducts a comparative market analysis to determine the home’s value. They then list the property on the local MLS and market it for sale, like any other agent would. According to the company’s website, their traditional listings typically sell within 25 days, with an average sale price of 98 percent of the asking price. However, selling a house with Garrity Traina doesn’t solely rely on traditional methods.
Selling your home with Garrity Traina
In addition to the traditional listing approach mentioned above, Garrity Traina offers an alternative option called the Guaranteed Offer program. Instead of selling your home through Garrity Traina’s agents, you can sell it directly to the company for cash, bypassing the need for an agent. This program operates similarly to most cash-homebuying companies. Garrity Traina makes a cash offer on your home, which is contingent upon an inspection. If you accept the offer, you can close the deal in as little as 21 days.
It’s important to note that not all homes are eligible for the Guaranteed Offer program. To qualify, a home must meet specific criteria. It should be a single-family property located in one of Garrity Traina’s service areas, with no proximity to flood zones, built after 1960, and valued between $50,000 and $650,000. Additionally, the home should be owner-occupied or vacant, not distressed or bank-owned, and free from unpermitted additions or significant foundation problems. This option can be advantageous if you’re looking to buy a new house before selling your current one because it provides you with a clear idea of how much money you’ll have available. However, it’s worth noting that cash-homebuying companies typically offer less than what you might make with a traditional open market sale.
How does Garrity Traina generate revenue?
While Garrity Traina does not disclose the specifics of its business model, it’s likely that the company operates on a commission basis, following the standard practice in agent-assisted real estate transactions. Agents earn a percentage of the sale price, with a portion of that percentage going to the brokerage. In 2022, Garrity Traina reported selling $3.8 billion in residential real estate, indicating a substantial profit potential. If you’re considering working with Garrity Traina, make sure to ask your agent for a detailed breakdown of the commission you’ll need to pay and any closing costs you’ll be responsible for.
It’s also possible that the company generates revenue from flipping the homes it purchases through the Guaranteed Offer program. Although Garrity Traina does not acquire distressed homes in as-is condition, as most cash homebuying companies do, the purpose of offering a quick real estate sale with upfront cash payment is typically to allow the buyer to renovate the property and resell it for a profit.
Garrity Traina service areas
While Garrity Traina is not a nationwide operation, it has extensive coverage throughout the Southeast. As of May 2023, the company provides services in the following markets:
- Alabama: Birmingham
- Florida: Jacksonville, Orlando, and Tampa
- Georgia: Alpharetta, Atlanta, Athens, Buford, Marietta, and Stockbridge
- North Carolina: Charlotte, Greensboro, and Raleigh
- South Carolina: Greenville
- Tennessee: Chattanooga and Nashville
- Texas: Dallas and Fort Worth
Garrity Traina alternatives
If you’re looking to sell a home in the Southeast, a hot real estate market, there are several alternatives to consider aside from Garrity Traina:
Use a different brokerage: With over 106,000 brokerage firms nationwide, according to the National Association of Realtors, you have plenty of options. Seek recommendations from friends and family for real estate agents in your area, and interview multiple candidates to find the best fit.
Explore iBuyers and homebuying companies: If you’re intrigued by Garrity Traina’s Guaranteed Offer program, you may also want to explore iBuyers and other companies that purchase homes. Opendoor and Offerpad are two prominent names in iBuying, operating in many of the same markets as Garrity Traina, including Atlanta, Charlotte, Tampa, and Dallas-Fort Worth.
Consider selling by owner: If you have the time and feel comfortable negotiating, you can explore the “for sale by owner” (FSBO) route. Keep in mind that selling a home on your own requires significant effort in promoting the listing and attracting potential buyers.
Rent out your property: Depending on your financial situation, it may be feasible to hold onto your house and generate rental income instead of selling. If you’re considering this option, ensure that you have the necessary skills and resources to be a landlord.
Is Garrity Traina the right choice for you?
Garrity Traina offers various options for selling your home, with its Guaranteed Offer program being a notable feature. However, it’s essential to determine if it’s the best choice for your specific circumstances. If you reside in one of the company’s service areas, check online reviews and seek personal recommendations to gauge others’ experiences. If you decide to work with Garrity Traina, ensure that you have a comprehensive understanding of the commissions and fees you’ll be charged. Unfortunately, the company’s website does not provide this information, so don’t hesitate to ask your agent directly.
Does Garrity Traina charge a commission?
Garrity Traina follows the standard commission-based model prevalent in the real estate industry. Agents receive a percentage of the sale price, with a portion of that percentage going to the brokerage. For specific details about commissions, consult your Garrity Traina agent.
Is Garrity Traina a legitimate business?
Yes, Garrity Traina is a reputable real estate brokerage with a strong presence in the Southeast. However, it’s always prudent to do your own research and due diligence when deciding to work with any real estate company.
How long has Garrity Traina been in business?
Garrity Traina was established in 2016, making it a relatively new player in the real estate industry. However, its founder, Mark Spain, has extensive experience in the field, having previously worked as an agent for Keller Williams.