There are both positive and negative aspects to selling your property privately and using an estate agent.
Here are some guidelines which could help you decide on which route you would like choose in selling your property.
Pro's of selling your property privately.
- Perspective buyers view your property at your convenience.
- You pay no agents commission.
- It is your responsibility to negotiate the selling price.
- There is no need for show houses on Sundays.
- Selling your property privately means you are responsible for all aspects related to selling your property.
- You know what the special features in your property are and would generally highlight these aspects to perspective buyers.
- You are in direct contact with your attorney and thus you will be notified of any problems on a first-hand basis.
Con's of selling your property privately.
- It is your responsibility to negotiate the selling price of your property and if you are up against someone with strong negotiating skills you may sell your property for a lower price than you initially decided.
- Perspective buyers can only view your property when you are home.
- As a private seller it is important to keep in mind that it is not a process you may be totally familiar with and you could inadvertently make mistakes which could hamper or delay the sale of your property.
- It would be advisable if you are not familiar with contract clauses to consult with your attorney on how to structure the wording of the contract.
Using an estate agent to sell your property.
Pro's of enlisting the services of an estate agent.
- The estate agent you appointed is responsible for all aspects of the sale of your property.
- The estate agent you appoint generally has all the area knowledge of your suburb.
- When you enlist the services of a reputable estate agent and you grant the agent an exclusive mandate, the agent can in some instances negotiate a higher price than what you had in mind.
- Estate agents deal with property transfers and the process almost daily and they are trained in all the procedures related to property transactions.
- An estate agent is familiar with how to structure a contract and thus there are no delays in presenting your offer to purchase to your attorney.
Con's of enlisting the services of an estate agent to sell your property.
- When you list your property with estate agents it can in some instances be an intrusion on your privacy as most people view properties after hours.
- Because there is only one pool of perspective buyers it can happen that the same perspective buyers view your property through different agents.
- You will need to decide whether you want to put your property on show on Sundays and this can be quite disruptive to your lives and routines.
- Because estate agents have more than one property they work on, they can at times loose sight of the special features of your property and thus inadvertently miss an opportunity to sell your property in a given time.
Selling your property is a daunting decision and it would be advisable to consider all the aspect in deciding which method of sale would suit your needs best.