Selling a property is not easy especially to those who lack the knowledge and experience. Successfully selling a property needs an effective strategy and requires a lot of time and effort. When selling a property, these questions come to mind –
(1) How confident are you to self-sell your property?
(2) Would it be better to use an agent to handle it?
Selling properties is only hard in the beginning. Once you get the hang of it and after you’ve become confident in selling homes, everything will become a breeze. There is a learning curve for sure so take notes so you won’t forget every mistake and technique that you’ll learn along the way.
Also, it is highly encouraged to hangout with other real estate agents and you should build a strong relationship with them because there are a lot to learn from them and a lot of pros are eager to share what they know to you. It will do you good to enroll in seminars about selling properties; not only that you’ll get credentials, you’ll learn a lot of practical stuff as well.
Selling a Property Yourself: Pros and Cons
Self-selling property has the following advantages:
- You can save yourself from the traditional real agent commission.
- You are in total control for the entire transaction process. You can decide the price, the viewing schedule and when to put in and take it off in the market. For sale by owner services can help you with the process, but some of your time will be required.
- You can provide immediate answers to buyer’s questions since you have the direct and complete knowledge about the property. Also, highlighting all the positive attributes of your property will come out naturally.
Selling a property yourself also has the following disadvantages:
- You will need to invest time on selling your property. You need to do your own market research and learn the details surrounding the entire transaction. You need also to market the property yourself and create your own advertisement material.
- You have to deal with the long negotiation process. Since you don’t have the agent, you have to mediate the prolong negotiation process. You also have to listen to all the feedback and suggestions, and have to share a reasonable terms and conditions.
Selling a Property with an Agent: Pros and Cons
Following are the advantages of using an agent when selling a property:
- You absolutely save your time from all the negotiation process and paper works. Professional and well educated agent will give you the assurance that everything is done by the book. You don’t have to worry of the errors and you can avoid the risk.
- Real estate agents have access to a wide range of marketing resources. They know exactly where to place the ads and they can easily monitor the movement in the market.
- They are knowledgeable and experts when it comes to selling property.
The disadvantages of using an agent include the following:
- You have to pay for real estate commission and expect to pay higher for those expert agents. To cover this up, make sure to come up with the best commission agreement with your agent.
- Your home may not get the full attention of the agent. Real estate agents handle several clients and the busier your agent is, the more likely you will experience frustrations. Make sure that your agent will do his responsibilities timely and efficiently.
Even though real estate agents are knowledgeable and experts on this field, it does not mean that you will end up using an agent to sell your property. Only you can determine if you really need an agent or not. If you have the time and confident enough to do the self-selling then go ahead. You can always hire an agent later on if necessary.
After closing the deal.
Once that you have closed the deal, you must leave the property as scheduled and it should be in good condition because the buyer expects it. Bring all your stuff and ensure that you haven’t left anything in the vicinity because you might not get it back again.
Selling homes with the assistant of an agent is an advantage because there are serious legworks in selling and marketing.
Don’t forget to celebrate in one way or another after selling a home because you deserve a good treat. Just don’t forget to eye for higher dreams. You can sell better properties and have better deals. Build a name for yourself because once that you gained credibility, selling properties will be easier.
John Cole is a blogger and marketer for Buy My Place. When he’s not working, doing street photography with his film cameras and writing poetry occupy his time.