In an attempt to cut down on costs some sellers might be contemplating listing their homes without the services of a real estate professional. Although it may seem like a great way to reduce costs and avoid paying an agent’s commission, it also means that seller will have to do all the work themselves, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
“At first glance selling a property privately may appear to be an easy process of just listing the home online and waiting for a potential buyer to come calling, but there is a reason that only 5% of South African homeowners decide to take this route. Apart from the convenience of leaving it to a professional, an estate agent brings several other crucial values to the table. As an expert working within the property market on a daily basis, an agent will be able to assist the seller to correctly price their home, marketing and advertising the house, be available for show days and negotiate the sale,” says Goslett.
He adds that because of their expertise in the field, an agent is far more equipped to handle the sale process, taking much of the responsibility off the seller’s shoulders. If an estate agent does not sell the property, they do not get paid, so it is in their best interest to ensure that they make every effort to successfully find the right calibre of prospective buyers.
Goslett provides four other reasons why using an agent will help sellers to make the most money in the shortest time when selling their homes:
An agent can increase your potential profit
While many people think they will make more money by avoiding paying an agent’s commission and handling the sale themselves, statistics reveal otherwise. In most cases selling the property will bring about a higher profit, often enough to cover the agent’s commission and more. Why is this? Well, for one thing, the estate agent has the experience and resources to price the home appropriately. According to studies, homes that are priced correctly when they are first listed on the market will sell faster, and for a better price than those that list at inflated prices and linger on the market for longer than they should. Homes priced above market value will be ignored by buyers and the longer the home stays on the market, the more the price tag will decrease.
Agents save sellers time
It won’t take long to list the property online, but that is not where it ends. There is also the matter of handling potential buyers, not to mention home inspectors and appraisers. All of this can be extremely time-consuming. An agent will also be able to screen buyers, help sellers to prepare for home inspections and ensure that the whole sales process is handled in an efficient manner.
The agent has the negotiation skills
Agents negotiate and make deals for a living, so there is a good chance that an agent will get a better deal for the seller than they would themselves. Considering that a home sale is probably one of the biggest deals that a seller will make in the lives, wouldn’t they want the negotiating skills of a seasoned professional helping them along? Listing the home with an agent also means that the seller will get the agent’s marketing power, access to their network and connections.
Working with an agent will lower the seller’s risk
If a homeowner sells the property themselves they run the risk of making mistakes and dealing with the possible legal consequences. The process can be completed and there is a lot of paperwork that needs to be completed in the correct manner. An agent will know the ins and outs of what it required and how it needs to be filled out.
“Due to the nature of property sales and the huge financial impact these transactions have on people’s lives, the right estate agent can add value and be a helpful professional guide for homeowners to rely on,” Goslett concludes.
