Some homeowners enter a tough inner debate about whether or not to sell via an estate agent. The thought of ‘saving’ thousands of dollars instead of paying it to a real estate agent sounds attractive. Our home finance tips for you today will help you resolve this decision.
Selling Without An Estate Agent
Selling a home without an estate agent is called a Private Sale. It’s important to know that Agents do a lot of legwork, paperwork and communication work to sell your home, so if you have the time and skills, then you can attempt a private sale.
You will need to market your home on various online platforms (For Sale By Owners-FSBO websites) to maximize its exposure. You can also use a discount broker and pay for a Multiple Listing Service (MLS) website.
Abundance Of Time
You might be retired and have oodles of time available. Great, because you will need to:
- Prepare & arrange photographs with a professional photographer
- Prepare and execute marketing
- Network to get the news out there
- Handle loads of incoming calls
- Stage your home, arrange and host Open Days or property viewings
- Do follow-up calls on interested parties
- Know your property law
If you are a Wolf On Real Estate Street negotiator, then you will close a great deal on your home. Without this skill, you could lose a lot more than the value of an agent’s commission.
Note: THOROUGHLY research the true value of your home.
Support services are available for your marketing operations, signage, evaluations and generic property sale forms. You can also source your own real estate lawyer and get a list of risk pointers from them.
Note: Lawyers’ fees for private sales are higher due to a lot more documentation to handle in an agent’s absence.
Selling With Real Estate Agent
Commissions may appear high, but house sales are time and knowledge-intensive and need extensive patience!
Agents Do Home Staging
Home staging has proven it sells property fast and at a better price. Agents know what buyers want in a home and your prized decor might not be saleable. Your staged home will attract buyers like bees to a flower.
Agents Set The Right Price
The estate agent will know the right price for the property and location. Your sentimentality and personal taste may peg the price too high, making your property flounder on the market for months. Or you could undersell!
Agents constantly network with other agents and your property will be spread across multiple agencies, giving you access to a massive pool of potential buyers.
Filtering Through The Flotsam
Agents filter through loads of interested parties and they whittle off unqualified buyers or time-wasters. An agent can sniff out a time-waster in minutes. Filtering consumes enormous amounts of time and patience. An agent will also protect you from suspicious buyers.
Using an agent protects your rights as a buyer, markets effectively, sells faster and gets you the best price. Sounds like the safest choice.