Cutting out the middle man is an often considered way to potentially save a few dollars, and so selling a property without availing the services of a real estate agent could be tempting. In Australia, real estate commission is unregulated - meaning the commission of a NSW real estate agent could take a number of different factors into account before setting the price for selling your property. These include location, market and the characteristics of your home. So you are entitled to debate whether it is worth acquiring the services of a real estate agent or simply managing things on your own.
Start by considering the following points. Attempting to sell a property without assistance is no easy feat, these are the reason we think why. Truth be told, there have been people who have successfully sold their properties in Australia without an agent. However, these people undeniably had extensive knowledge regarding the legislation around property law. They more than likely understood the process of buying and selling and had acquaintances to handle additional factors, including financial paperwork and transfer deeds.
In order to sell off a property without an agent, you also need to have excellent negotiation skills, as well as a substantial amount of free time on your hands in order to pay careful attention to the specific aspects of the sale. Does your lifestyle allow for this? The amount of time required to manage a task of this size is something you will need to consider before you begin this arduous process.
Confidence plays a crucial in the whole proceeding and knowing that you can effectively handle the sales negotiation. Buyers will more than likely try to get a better price - leaving you with a loss. Many people opt for real estate agents simply because they do not feel they are confident enough to handle the sales themselves - or at least because they do not want to deal with any backlash or potential confrontation.
Perhaps one the most difficult part of making a sale on your own is setting a realistic price based on an accurate evaluation. Real estate agents/ companies are trained and well-versed in the real value of property - it is after all what they do best. It is easy to be misguided regarding the price of your property and of course to be unrealistically tempted by the supposed profit you could make on the sale. Don’t underestimate the weight of knowing and understanding the general market value for your property - something a Real estate agent can provide you with.
In reality, private sellers lack the marketing resources that agents have and so will probably have difficulty reaching all the potential buyers of their property. Sealing the right buyer, who pays the right price is a key part of the sale process - and one that requires expertise.
Perhaps the most significant point to consider is whether you are up for the risk that comes with selling a property privately. If you have an agent on your side, you can turn to him /her for guidance/ support and answers at any stage of the sale. Your Real estate agent is the key to a successful property sale. In the long run, there is no doubt - using a Real Estate agent to help sell your property is worth every penny!