Before, selling properties usually involved hiring a professional real estate agent. Today, however, people are taking a different path when it comes to selling their homes. Private selling is gaining so much popularity that even inexperienced sellers are considering this option. However, what is a private sale? Moreover, is selling property privately a good move?
Selling property privately basically means selling property without hiring the expertise of a middleman – the real estate agent. Surely, the most important reason why people go for private sales is to avoid paying a significant amount of money on commission. Some property owners think the price they set won’t give them much profit especially after the commission of the agent is taken into consideration. Niel Timmins will sell your home for a flat fee if you don’t want to have to part with a huge chunk of the profits.
In general, an estate agent charges around two per cent of the property sale price. Today, however, one can extremely cut down on real estate agent fees because the Internet offers a wide array of marketing opportunities for your home. For only $100 worth of cash, you can already put a private advertisement on a website.
Selling property privately is not really that difficult, although estate agents want you to believe otherwise. You’ve lived in your home for 20 long years; you know the best things about each room and you also know the smallest details that no agent will ever know. While an agent can possibly forget vital bits of information about the property, there is no way that you’ll fail to answer any question that a homebuyer might ask.
So, is selling property privately a wise idea? If you will base the answer on statistics, the answer would be yes. Recent numbers have shown that around 25 percent of properties sold annually in the United States were sold privately. In Canada, nearly 50 percent are sold this way. Selling property privately in Australia is also earning positive results as more and more people are now discovering how much they can potentially save in the process.
If you’re considering selling your property with the help of a realtor, ask yourself this question, “What does a real estate do that you cannot do yourself?” If you think about it, you can do a better job than any estate agent available around. Since you know your property better than others, you’re the best person to sell the property to its full potential.
Nevertheless, there are legalities involved in selling a property. In addition, you’d be beset by technical jargons that you may not fully understand, unless you have someone to help you.