Selling a property on your own: a good option?

Selling a property on your own: a good option?

It is not uncommon to find homeowners who decide to sell their property as a private individual, thinking that this will allow them to get a better deal and get a higher amount for "saving" the commission of an agent. First of all, we must insist that not all real estate professionals are worthless and there are still some who pretend to charge several thousand euros for doing what any private individual can do on their own, i.e. taking some photos with their mobile phone and uploading the property to the Internet, sometimes as if they were private individuals themselves! It is obvious that, from these people, it is better to run away.

In this article we are going to explain why hiring the right real estate agent only has advantages, because not only will it allow the seller to earn more money, but it will also take care of everything, bringing peace of mind to your client. Here's how it works:

If you have already tried it, you will know that when you upload a private listing on a real estate portal you mostly receive calls from agencies who want to offer you their help in selling your property. We can say that only 20% of the contacts are from people looking to buy.

But here we have to digress and talk about the 4 types of buyers:

  • The buyer who for whatever reason needs to buy fast. They will ask for the help of an agent who can offer them many more buying options and advice.
  • The buyer who has a very specific project and is not in a hurry. He has also contacted one or more agents to call him when the ideal house will be available.
  • The investor, who is looking for a bargain to buy and sell quickly at a profit. He knows that for his operation to be successful, he has to buy at a very good price.
  • The real estate tourist. This person is not really a buyer, but likes to visit houses and dream that he can buy them, when in fact he cannot.

Who are the ones who call the private ads? Bingo, tourists and investors. Those who are not going to buy and those who are going to squeeze the price. Because if they are looking for private individuals it is because they think, and rightly so, that they are the ones who will save the agent's commission.

So the big question is, what advantage does a private individual have in selling on his own? He will have all the hassle, calls, mails, visits, negotiation, paperwork and at the end he will charge the same or less than if he had given it to a professional.

Now let's look at what a good real estate professional does, the added value he or she brings:

Successful real estate sales are based on 3 pillars:

  • The price: it has to be appropriate to the market situation, what is being sold or has been sold recently in the area, high enough not to lose the opportunity to get the maximum amount and attractive enough to generate visits. To determine this, a good agent will make a comparative market analysis based on concrete data of properties for sale and sold in recent months, state of conservation, strengths and weaknesses.
  • The preparation of the property: The purchase of a home is a very important moment for the future buyer and carries a high emotional charge. And emotions generate actions. Therefore, it is extremely important to prepare the first impression that the future buyer will have when entering the home. Success or failure depends on the first 7 to 20 seconds of the visit. A good agent will advise you on the best strategy to generate a love affair.
  • The communication: once the property is ready, it is necessary to create a first class marketing material with professional photos, virtual tour, drone, videos. With all the competition, it is important to stand out on the portals. In addition, it is essential that the agent has a strategy of collaboration with other professionals so as not to miss opportunities to catch the ideal buyer for the property.

Once the property has been published, the moment of truth comes. Is it successful or unsuccessful, are there visits? A good agent will bring few visits because he will act as a filter so as not to waste time with tourists, or with dreamers who do not have the first penny to buy. He will have an interview with each potential buyer and proceed to qualify him to know if he has buying options and if the property corresponds to what he is looking for.

When he will have viewings, he will go to the house beforehand to ventilate it, open windows, open lights, check the cleanliness and prepare the moment when the buyer enters so that he has the best possible impression.

A good real estate agent will provide regular feedback on the marketing of the house and meet with the seller to fine-tune the strategy and adapt it to the situation.

Finally, when a buyer has made a suitable offer in line with his client's objectives, he will take care of all the paperwork to prepare for the public elevation of the sale and purchase.

I will finish with a simple example: If you go to buy a watch in a shop, take it home, do not open the box, do not even remove the protective plastic, and the next day put it up for sale on a private sale website, you will not be able to obtain the price you paid for it. The security provided by selling through a professional alone has value, and the real estate sector is no exception.

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