Selling Privately VS Using An Agent

Selling a property can be a challenge. Many owners opt to hire a real estate agent so that there will be someone to handle the sales process for them. On the other hand, if your goal is to sell at the highest profit possible, then you should consider selling privately. But if you must ask which of the two options is better, the answer depends on a number of factors. Evaluating their pros and cons can help you make the right decision.

Benefits Of Hiring An Agent

It can be very convenient on the part of the owner to use a real estate agent when selling a property. Real estate agents can have various functions as stated in their agreement with the owner. Below are the common benefits of hiring an agent:

  • Professional service. Real estate agents know the ins and outs of the selling process. They know exactly what to do to make a property sell faster. They can give tips on how to stage your home right. They can help you identify between an interested buyer and someone who is just looking around.
  • Hands-off approach.  Real estate agents will basically handle the marketing and selling process on behalf of the owner. There are many tasks involved in selling a property, and all these will be dealt with by the agents. They will be responsible for answering queries and accompanying prospective buyers during the house inspection. After the deal is closed, they will accomplish all required documentation for transfer of ownership.
  • Buyer database. Agents who have been in service for many years should have a database of prospective buyers who may be interested with the property you are selling. They already have a starting point which allows them to sell faster.

Why It’s Better To Sell Privately…

Selling privately does not have to be difficult. Now that portals for private house sales exist, even first-time sellers will not feel like they are shooting in the dark. There are many benefits to selling privately, and the following are just a few of them:

  • No commissions. Agents are paid on commission, usually 1% to 3% of the price of the property. Thus, even when the property sells with less effort from the agent, you will still owe the agent his or her cut on the sale. But if you will sell privately, you will not have to pay thousands of dollars on commissions. Just imagine having the profit all to yourself.
  • Full control. If you will sell privately, you are the boss. You can use any marketing strategy you prefer.  You will not have to coordinate your selling efforts with anyone. Real estate agents may be handling a lot of other properties; there is a tendency that they will put yours in the least priority. By selling on your own, you can do whatever you think can make your property sell faster.
  • Better negotiation. When there is no agent, there is direct communication between you and the buyer. Using a middleman can only delay the negotiation process; many prospective buyers do not like that. By selling privately, you are able to accept or reject a price offer instantly.

How to Get Started Selling Property Yourself

To start with private house sales online is as easy as 1-2-3. You will only have to access the site, click on the “list now” button, and enter your property details. You will also have the option to upload photos and floor plan of the property. There is a one-time fee of $500, and your property will be listed until it is sold.

Conclusion

Selling properties through real estate agents may be advisable for those who have a very busy schedule. But private house sales portals allow owners to sell their property without help from a professional. There are many benefits to selling privately, but the most important is the fact that the owner can maximize profit because there is no need to pay commissions.