As a home seller you want to make as much money as you can from the sale of your home; meaning you could be considering selling your property privately to avoid paying estate agent fees.
However, there are many cons to selling without the help of an agent.
So, before you make that decision, we thought you should be aware of some of the negatives that come from selling privately.
1. There might not be as much financial benefit as you imagine
You’re not likely to fetch as high a price for your home as you would if you worked with an agent. An established real estate agent knows how to market your property to the right buyers – negotiation on price is correctly based on true facts.
2. It’s hard work to sell a house
You are going to need to devote a considerable amount of time to selling your house.
Your home needs to be photographed, filmed, listed, shown and more. And, when you do gain interest in your house you will need to be able to show them around, answer their phone calls and negotiate a good price all by yourself.
3. You’ll need to financially qualify the buyer
If you find a buyer on your own, you’ll need to make sure they can afford to buy the property.
One of the problems with selling by yourself is not having the same skills as an estate agent to determine the buyer’s qualifications – there’s a huge difference between being pre-approved for a mortgage vs being pre-qualified.
4. You need to make sure you are legal to sell your property
Every area has its own laws and regulations related to selling a home. It’s important to make sure you read up to see what would be required to do so.
5. Be prepared for the bargain shoppers
Some people could assume you are willing to take less for your house because you do not have to pay an estate agent – just be prepared to deal with such buyers.