12:58 PM, 12th March 2014, About 10 years ago 10
When you’re selling your property, you naturally want to get the most you possibly can for it. Paying expensive estate agents fees can sometimes seem like a waste. It can be tempting to go it alone but the benefits that an estate agent offers could very well make up for the fee they charge.
You have to look at your personal circumstances and be realistic about what you can and can’t achieve before you make your decision – we have the perfect pros and cons list to help you work out if you’re ready for the task of selling your home without assistance:
Experience – There are so many things that an estate agent will be aware of that you may not. There’s a lot more to it than putting up the iconic ‘For Sale’ sign. They will advise you on things like the repairs or redecoration necessary to secure a sale, help you fix an asking price and give you advice on what you should include, such as furniture as well as pre-empting a whole host of seldom-considered questions.
Contacts – As well as the potential purchasers registered with their agency, agents will have a list of publications and websites just made for publicising your sale and because they advertise in bulk, they’ll get much cheaper advertising space than you will.
Time – The real advantage an estate agent has over most of us is time. While we are sat at our desk at work, they are ready to answer any enquiries and book in and conduct viewings so if you have a demanding job, you might want to consider handing the reins over to them.
Commission – Estate agents normally charge a commission of between 1% and 3% of the selling price and that adds up to quite a figure. If you do go ahead, make sure you read the contract carefully before you employ them so you avoid popular pitfalls like giving your agent ‘sole selling rights’, which allows them to charge commission even if you find a buyer on your own.
They won’t be totally focused on your home – With plenty of other clients to think about, your home may soon slip to the bottom of your estate agent’s pile if doesn’t attract a lot of interest.
Cheaper – You’ll save a substantial amount on commission if you sell your home on your own. If you can dedicate a substantial amount of time and energy to selling your property and are willing to read up and make yourself an authority on selling houses, then why not make a saving.
More control – If you do sell your home independently you have complete control over how your home is portrayed and to whom. You’ll be in a great position to take calls and do viewings as you know your home inside out and your sales pitch will be authentic, which can make all the difference when you’re trying to make a sale.
It’s a massive undertaking – people do this as a full-time job so if you don’t have the time and inclination to sell your home independently, you should probably be employing an estate agent to do it for you.
So I pose these questions:
What are your thoughts on hiring an estate agent? And how do you work – together or alone?
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