Now that you intend to sell your property, there’s probably one bothersome enigma that you are confronting, and that is the debate of whether to sell privately or through the services of an estate agent. Many investors have gone through this headache, probably more than once, and I can tell you it can become very overwhelming. Multiple pros and cons pull you from each end until you are about to tear apart. But never mind, I’ll save you from another headache.
Like every other business deal, you either have time or money. Meaning that if you have a lot of time to spare, then it’s worth learning how to do it yourself. On the other hand, if you have a bit of money to spare, then you might consider hiring a professional to help you out.
As I said, there are many things to gain and lose on both sides. Take selling your property privately, for example. There are significant risks attached to it. However, you have the autonomy and all the profits that the deals can offer. On doing a cost-benefit analysis for both, you will find that the hassle is too much. But let’s look at it in this perspective:
What Do Estate Agents Do That You Can’t Do Yourself?
In the past, estate agents were like the gods of the real estate market. They controlled everything from connecting buyers and sellers, setting the prices, negotiating, to sealing transactions. Later, the internet arrived with the agility that sellers needed to connect with the buyers and vice versa. However, even on harnessing the power of the internet, private sellers still lack the capacity to use superior skills in marketing and the ability to use amassed knowledge to win better deals compared to estate agents. Agents simply spend all day perfecting their expertise. They can value your property, handle the viewings, and negotiate on your behalf to market the property in the most proper way. They will highlight the best features of your property such as unique storage spaces that will easily catch the attention of potential buyers.
This Is What Estate Agents Would Like To Have You Believe
Many agents will try to show their objectivity by admitting that their only interest is the sale of your property. Their expertise and familiarity with legal documents and sales may happen to be another reason and approach to convince you to use their services. While such claims might be true, many private sellers possess the knack to handle all transaction and negotiation duties as well as an experienced real estate agent. In fact, some private sellers are even better at negotiating. Just remember not to ignore the fact that estate agents are indeed trained professionals who have substantial spans of information on real estate and a network of cash buyers probably as well.
What you can do on Your Own
As opposed to the past, private sellers and buyers now enjoy the power of technology as a tool, and that’s just not it. The internet has come with the right flexibility to allow you to contact and contract with the same group of buyers and sellers that existed previously in the financial records of agents. In other words, as a private seller, you can now find a buyer, communicate, and transact with them without the need of having to use the service of an estate agent.
By this, you have to rely on the capability of adaptable online portals to list your property. Potential buyers will then search and find your listings. At this point, you will still have much to cover on your own including setting the price, arranging for viewings, negotiating the offers, and progressing the property for sale via conveyancers and solicitors.
Can you use an Agent, Only for the Things you can’t do?
If you have successfully contacted the potential buyer, you may feel as if setting the price, arranging for viewings, and doing all the transaction work is another bothersome burden. Luckily, the internet saves you once more; you will find many agents that can offer a pay-you-go service without asking for commissions, just by the hour.
Now that you have the choice bear in mind that, while you will have the power of the internet in your hand when selling privately,there will be a considerable load of work left to do. Hiring an agent, on the contrary, will free you of all marketing, negotiation, transaction, and legal concerns at a small fraction of your profit. Choose diligently.