The fuel hick is here. Considering that as well as already having to cope with rising prices, the VAT increase etc, many property owners may want to opt to save on the commissions of a traditional estate agent and rather try to sell their property, but do they know all the risks involved? Here are good reasons to let you the professional agent do the hard work of selling your property.
It is with good reason that estate agents these days must meet stringent educational requirements and commit to continuous training. There’s the constant change to regulations governing property transactions, but private sellers wouldn’t generally know about. Agents are equipped to guide sellers through the entire selling process. Sellers inexperienced to the property market could find themselves making ‘renovations’ which in reality are improvements. FPS Agents knowledge and experience of the property transaction process is priceless and can’t be obtained with a few quick searches on Google.
Selling property successfully is a full-time job. This is something people thinking of selling their own property don’t realise until they are in the process.
They need to consider whether they are prepared to deal with calls from prospective buyers and repeat showing of the property, even on weekends. They need to communicate with buyers and organize showings. The owners evenings and weekends are tied up, and some of their days as well, if people want to see the home 9 - 5. Most people with jobs and families simply cannot handle the workload. This doesn’t even take into account proving that someone who does want to buy your home has the financial ability to do so.
One of the biggest risks of selling your home privately is that it takes a lot of work to market your home. For one thing, you’ll need professional quality photos of your home for your listing that show off how much space you have. Then you have to call up various online sites, newspapers and place classified ads for your listing. If you’re selling privately, you’re also going to need to craft a good “for sale” sign and send out promotional fliers with your contact details on it.
You’ll have to know if a buyer is prequalified to buy a home and for what amount. That means asking for a letter from a bank that says how much they’re approved for. Then you’ll want to have a credit check done. If you don’t do these things, you’ll be spending a lot of time doing showings for people who aren’t even seriously ready to buy.
Everyone’s time is valuable these days.
Selling a property is often an emotional experience for a seller. Having a FPS agent, puts a little more distance between you and the selling process where as dealing directly could lead to making costly mistakes such as overpricing or on the other hand settling too easily for an offer that is below market-value because the owner feels pressurised to sell. With a FPS agent, and without any emotional ties to the property, the agent is in a better position to objectively focus on getting them the best deal possible for their property.
One of the big risks of selling your home without an agent is that you don’t know how much homes in your area are actually selling for. This is a fact that FPS Agents have access to information on actual selling prices. A good agent also knows when to adjust prices up or down for different neighborhoods as the market changes.
So what’s the problem with inaccurate pricing? If you ask too high of a price for your house, it may not sell for months and months... or at all. Property listings have a 4 - 6 week shelf life. The longer a home stays on the market, the more likely prospective buyers are going to think something’s wrong with it. When you’re selling your own home, it’s also way too easy to ask too high a price. After all, you have an attachment to it from years of living there. Alternately, you could also wind up giving your buyer a huge deal by selling your home for far too little. It has happened, believe it or not. Don’t lose money thinking you are going to save money!
KNOWING THE PLAYING FIELD
The home owner might not know where to start. Our FPS agents know a vast array of contacts that could assist in bringing in prospective buyers as they know the role players in the property industry. The FPS agent has a specific designed marketing plan for each property to suit the time and needs of the property owner.
Proper marketing these days entail far more than merely posting a few snapshots on Facebook and maybe placing a classified ad in the classified section of the local newspaper. Our FPS agents know best what marketing strategy to apply to best reach the intended target market. Hosting show days can be very stressful to private owners. An agent takes over the responsibility of ensuring the property is displayed at its best and they advise the seller on simple things they can do to make the property more attractive. The agent will take the responsibility to make sure the necessary safety measures are in place.
TURNING OFF BUYER'S AGENTS
One of the questions you’ll have to ask yourself when selling your home is:
“Am I ready to work with a buyer who has an agent, even if I don’t?”
If you do, you’ll have to factor in paying the buyer’s agent a commission on the home’s sale. If you don’t want to pay commission to a buyer’s agent, then these agents will have no financial incentive to show your home to anyone. That will drastically reduce the number of people who see your property. When you use an agent for selling your home, yes, you’re paying a commission. However, your agent and the buyer’s agent will divide up that commission.
A Good Real Estate Agent is Worth it! As you can see, there are serious downsides to trying to sell your home yourself.
Instead, why not talk to the experts at FPS PROPERTIES? It’s free to chat, and there’s no obligation. FPS PROPERTIES has a real advantage because our 25-person team has superior experience. We have specialists who take care of things like marketing, qualifying buyers, and paperwork. It allows our agents to spend 100% of their time researching the housing market and doing what they do best: selling houses.
We offer a free home e-valuation service, so if doing research all by yourself to see what the market’s doing is just not for you, fill out our online form and let us take care of it.