REAL ESTATE AGENT
Selling With an Agent vs. Selling Privately
Selling a home can be quite involving if you are doing it for the first time. There is advertising to be done, meeting with potential buyers, negotiating prices and processing the paperwork when the sale is confirmed. In the light of these hassles, many home sellers opt to engage a real estate agent. While this takes off these hassles off your shoulders, there is the issue of the agent’s commission. So which approach works better?
Marketing the house
Getting the house in front of the right set of potential buyers is the most involving task in the selling process. If you decide to use an agent, the agent takes care of everything as it is included in the fees and commission.
If you decide on a private sale, you will have to foot the costs that are usually incurred by real estate agents. These include membership costs to access exclusive databases and directories. There are also costs for listing on the popular real estate websites.
Your advertising costs will also include those of using traditional methods like printing flyers and brochures. If you decide to hold an open house, prepare for the costs of the event.
It is easy for an inexperienced home seller to undervalue a house. To avoid this, many sellers will usually engage an appraiser. The problem is that appraisers routinely undervalue houses as they play safe to avoid getting sued for overpricing.
An agent comes with loads of selling homes, so he will have a fairly accurate idea of the right price for the house. The agent has access to data and information on the market as he can rely on a network of his fellow real estate agents to get this information.
Preparing for sale
Properly staged home stands the chance of a quick sale as it becomes more attractive, and promises more value to the potential buyer. Proper staging involves getting the littlest details right, for example, the color of the door frames or the rug. This can only be learnt from years of experience, so a private seller will keep doing trial and error.
An agent will have handled different sets of clients before, and will know the type of staging that is appropriate for the home’s class of buyers.
A home purchase involves loads of financial and legal paperwork which can be daunting for a private seller. An agent is likely to have templates of these documents for faster processing.
Advertising comes with a lot of exposure while an agent acts as a barrier from jokers and other unwarranted contact.