Selling property using an estate agent vs private sale
Are you selling property? If you’re putting your house on the market, you’ll need to decide between making a private sale or using the services of an estate agent.
Both these options have pros and cons, so it’s up to you to decide for yourself. Once you’ve made up your mind, you can get the process of selling your home off to a good start.
Be sure to list your property on GotProperty today!
Pros of a private sale
- When you sell your home yourself, you only have one property to concentrate on, unlike estate agents who are dealing with numerous properties at once.
- Another advantage of making a private sale is that you’ll remain in control of the process. You’ll decide who gains access to your property as well as when they are allowed access.
- If you want to maintain your privacy, overseeing the sale yourself could be a more appealing option for you.
- When you make a private sale, you can choose to show your home exclusively to a few serious buyers who are more likely to make you an offer.
- There are also cost benefits to making a private sale because you do not have to pay commission.
Cons of a private sale
- While a private sale has many advantages, you’ll need to have an understanding of the property market as well as good negotiation capabilities if you want to succeed.
- It’s important to consider that while you won’t have to pay an estate agent commission, you run the risk of securing a lower price than you would with help from a professional.
- Another disadvantage to private sales is that you’ll need to make a large investment of time and energy. Finding serious buyers and arranging for them to view your home takes effort.
Pros of selling property through an estate agent
- Estate agents help you to connect with buyers and they help to speed up the process of making a sale. When you use the services of a qualified estate agent, you benefit from their knowledge and experience.
- They can assist you to set the right price for your house and to market it properly.
- The skills of an estate agent can help you secure a quick and hassle-free sale since estate agents understand the requirements of buyers, so they can help you optimise the appeal of your house.
- These professionals have the tools to produce premium marketing materials as well as access to a large database of buyers.
- They’ll also assist you with the paperwork and legal aspects of selling your property. Without a proper understanding of the legality of selling property, complications can arise.
Cons of selling through an estate agent
- Using the services of an estate agent is usually accompanied by opening your house to the public, which means that you do not have much privacy during that period.
- You’ll not be in control over who gains access to view your property and when.
- There is an additional cost of paying estate agent commission, which differs depending on the property mandate you use.
- Also depending on the property mandate used, you run the risk of your property being sold over a longer period of time.
Steps to selling your property
Private vs Estate agent
One of the biggest decisions you need to make is whether you’ll be selling your property privately or using the services of an estate agent. Once you’ve made your decision, you can move onto the next steps in order to sell your property.
Select a selling price
Setting the right price for your house is a crucial aspect of selling property. If your house is overpriced, it will delay the sale. In order to decide on a price, you need to have an understanding of the local property market as well as knowledge of what buyers are looking for.
Prepare your home
Before you let potential buyers view your property, you’ll need to be properly prepared. Make sure that your home is well-maintained before you advertise it.Carry out any repair work that needs to be done to ensure that your home is in top condition.
Connect to buyers
You can use the services of an estate agent to connect to buyers. Alternatively, you can advertise your property yourself. You’ll need outstanding photos in order to showcase your home. Videos are another popular option that can help to attract potential buyers.
Now that you know more about your different options, you can decide whether to use the services of an estate agent or not. While selling property can be stressful, it’s also financially rewarding. Visit GotProperty to get started on your selling or buying endeavour.