What’s the Best Way to Sell your Home? Private Sale or Using a Real Estate Agent?
Selling Your House Privately
Selling your home privately means that you can avoid many of the traditional real estate processes, such as listing your home, showing it to potential buyers, and waiting for financing to be approved.
For us here at Property Solutions a few words spring to mind when we talked about selling privately;
PROS
- Certainty
- Guaranteed Sale
- Cut out the middlemen
- No commission fees
- Zero open homes
- 100% transparency. We are so transparent here at Your
Property Solutions and stand by our ethos of the ‘Seller Must Benefit’.
CONS
- Potentially lower sale price: Selling to a cash buyer may result in a lower sale price than selling through a real estate agent, as cash buyers may expect a discount in exchange for a faster, hassle-free transaction.
- Limited exposure: Selling property privately to a cash buyer means that you won’t have access to the same level of exposure as you would through a real estate agent, which could make it more difficult to find potential buyers.
Which Homeowners Should Sell To a Private Buyer?
Selling with a Real Estate Agent
Selling through a real estate agent means that you work with a licensed professional to handle all aspects of the sale, from pricing to marketing to negotiations.
PROS
- Potential large database of buyers: This allows agents to put your property in front of several buyers, which could increase your final selling price. This is not guaranteed but it’s a promise we hear several agents making, all too often.
- Most real estate agents are experienced, know the law, and will guide you through the entire process, from listing your home to handing the keys over to the new owner.
- Open homes: It is essential for real estate agents to hold open homes to attract buyers. This typically occurs on weekends, which means that every weekend your house needs to be immaculate, and you will need to vacate the house. You need to consider if this works with your schedule and circumstances.
- Generally, when a homeowner signs up with a real estate agent and goes through the three-month process of weekly open homes and private viewings, they typically get more for their property.
CONS
- Real estate commissions: When you work with an agent, you will need to pay a commission fee, which can be a significant cost, depending on the sale price of your home.
- Less control: When you work with an agent, you may have less control over the entire process, as they will be handling many of the details on your behalf.
- Potentially longer process: Selling through an agent can take longer than selling to a cash buyer, as you will need to wait for the traditional real estate processes to play out.
At Your Property Solutions we aim to provide solutions to your property problems. As you can see, we love adding value and we hope that this article has given you a better understanding of the pros and cons of selling privately versus working with a real estate agent.
If you are considering selling your property, please do not hesitate to give us a call. We would love to talk to you about our process and how we buy properties.
We can also recommend some of our favorite agents in your area if you are looking to put your property on the market.
Until Next Time
BM