Selling your home is a very big decision and involves many important choices. When we put our house up for sale, we are faced with the question: to enlist the help of an intermediary or do it independently. This choice depends on many different factors and the choice may seem difficult at first glance. What are the advantages and disadvantages of both options and which should you ultimately decide on?
Documentation and images of the property
Before putting a house up for sale, it is necessary to have an appraisal report drawn up in order to clarify the market value of the property in question and the price you could ask for your home. Compiling a survey is also necessary for the buyer to obtain a loan from the bank for the purchase of a property.
You also need photos for the sale announcement: of course you can take them with your phone, but for this you can also hire a professional real estate photographer who knows which angles to use, what customers want to see in the photos and the photos are also aesthetically beautiful and of good quality. Sales images play a very important role in creating a first impression and arousing interest in the customer.
In addition to sales images, proper documentation is also very important. Building permit, occupation permit, entries in the building register – these are just some of the important documents that must be correct in order for the buyer to obtain a loan from the bank for the purchase of the object in question.
Time spent selling real estate
One of the biggest disadvantages of looking for a buyer for your home on your own is that it takes a long time. Starting from the creation of a sales announcement, advertising on various channels and telephone communication, up to showing the home to interested parties at different times of the day and organizing all the bureaucratic procedures with the final buyer. At least one hour should be given to each interested party, starting with the telephone conversation and ending with the presentation of the home. However, if there are dozens of people affected, it will ultimately add up to many hours of work to be taken away from your time and activities.
By using the help of a professional real estate agent, all the previously mentioned work is your responsibility. Your task is only to provide all the necessary information for the sale, he will take care of the rest independently and simply keep you informed about the process. In addition, the broker knows exactly which documents need to be in order, so that later there are no problems with the sales transaction and the transaction is completed quickly and correctly.
One of the biggest disadvantages of looking for a buyer for your home on your own is that it takes a long time. Photo: Pexels / Alena Darmel
Advantages of a real estate agent when selling a house
The intermediary can also evaluate the current market situation and set a price that allows the house to be sold quickly, but at the best price. This helps avoid a situation where, by selling yourself, you let the price go too low and sell your property below market price. It is not uncommon that thanks to the broker the final price is even higher than the initial price, because an auction occurs and the broker has excellent negotiation skills.
The real estate agent often also has their own client base and contacts, which can contribute to a quicker sale. It may also happen that you have a client who is waiting for an object that meets these very criteria and that the house is sold before the listing is even completed.
In addition to the above, brokers also offer professional marketing and added value. They have good knowledge of marketing and use different platforms to increase the visibility of your ad. Customer days and virtual tours are also organized to generate more interest, which would lead to a faster transaction.
The broker has good knowledge of marketing and uses different platforms to increase the visibility of your listing. Photo: Pexels / energepic.com
Challenges in approaching the sales process independently
One of the disadvantages of independent selling is the emotional connection to the home. The intermediary evaluates the object with the neutral eyes of a stranger, but for the owner it is still a sentimental question. It can become inconvenient and even distracting when potential buyers criticize the interior design or already plan to change the layout or move everything.
However, involving a broker in the sales process is a rather expensive undertaking, which is why many try to do it themselves. If the goal is to get the maximum profit from the sale, then it is obvious that they are trying to save on brokerage commissions. However, if you convert labor hours spent in sales into salary, you need to consider whether the brokerage commission of a small percentage exceeds the convenience and time resources you spend.
The speed of the sales process depends a lot on the commitment and frenzy of the broker. If in the case of independent sales you set the starting time yourself, make appointments and handle everything exactly as quickly as you want, then when choosing a broker you depend on his activities. If the broker does not take the matter to heart and postpones the process, the sale could drag on for a long time.
Therefore, the broker must also adapt to the client and his vision of the process should match. To ensure this, choose a broker carefully. Always check the broker’s background, experience and customer feedback. Also, explain all associated costs and the terms of the contract.
If you don’t want to give up all control, it is also possible to choose a combined solution, where the broker takes care of the marketing and documents, for example, but you communicate with interested parties and organize presentations independently.
The broker evaluates the object with the neutral gaze of a stranger, but for the owner it is a sentimental question and can become an inhibiting factor in the sales process. Photo: Pexels RDNE Stock project
Make the final decision
The final decision, whether to sell your home independently or involve a broker, is a personal one and depends on your personal preferences and what you expect from the selling process.
If you want to make maximum profit, also have the time and energy to tackle it, and want full control over the sales process, independent selling may be for you. However, if you value your time, are looking for a convenient solution and also lack knowledge, hiring a broker is a good decision.
2023-12-13 14:11:28
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