Be your own real estate agent! With the advancement of technology and social media, it’s never been easier to sell your own home. In fact, with property sites like Domain and Realestate.com.au now present and 86% of potential buyers using the internet to find their next property, self-selling has become available to anyone.
However, while in a perfect world property selling might be as simple as sticking a ‘for sale by owner’ sign out the front and then popping the champagne, there is a lot more complexity and strategy that goes into a real estate campaign designed for a premium price and record time-frame. To help you decide the best approach for you, we’ve shared the pros and cons of each approach.
Sell your own home
Pros
- If you are handy and motivated, preparing your property for sale can be easy.
- Nobody knows your property better than you, so answering questions about the property will be easy.
- Get rewarded for your hard work.
- You have control over your sale.
- You’ll have direct contact with the buyers.
- Satisfaction knowing you did sell your own home
Cons
- Positioning your property at the right price on the market can be difficult without an understanding of its value and an impartial
appraisal. - You will need to research and consider the fees involved in marketing and listing a property yourself.
- Beyond your day job, you will need to be prepared to answer phone calls, respond to emails, answer enquiries as they come through and do the hard work.
- You will need to have an understanding of marketing and how to close a deal. If you don’t, selling on your own home could be a disadvantage and could result in some legal issues.
- Some of the negotiation processes can upset self-sellers, as they have a personal attachment to the property.
Sell through a real estate agent
Pros
- Real estate agents are professionals and experts in their field. They know exactly what your property needs to appeal to the right buyers.
- With the right agent, you will find that the final price you achieve on your property overcompensates for the fee you pay.
- Your real estate agent is interested in and will work hard to achieve the highest possible price for your property.
- Your agent will have a team of creatives, cleaners and trades on hand that are reliable and will make your property look good to potential buyers.
- An agent knows how best to market your property and for a premium price.
- Your agent is a skilled negotiator and will work with potential buyers to get you the best price.
Cons
- Agent’s fees.
- Having your property sale in someone else’s hands.
- Your agent will represent the property in all negotiations, so it’s important to choose someone you can trust.
It’s important to do your own research into whether selling your property yourself or through a real estate agent is right for you. When it comes down to it, your decision depends largely on how quickly you want to sell your property, how much time you can dedicate to the sale of your property, and the price you want to achieve.
If you’d like the support of an agent to achieve the best possible price, we’d love to hear from you. Use our contact form to get in touch and let us know you’re thinking of selling your own home. We’d love to help. Of course if you think it all may be a bit much feel very welcome to get a free appraisal and start on the journey of selling your home with a world class agent from McElwaine’s
