PROS AND CONS OF SELLING YOUR HOUSE.
Should you sell your house yourself or use a real-estate agent? These are some of the questions homeowners needing to sell their houses often have to confront and the answers might not be necessarily as simple as it looks.
One of the reasons most people would rather prefer selling their homes themselves (FSBO) rather than using the services of a qualified real estate agent is simply to maximize profits in terms of cutting off the commission fee that most real-estate agents often leave with as a payment for their service.
It is wise to note that selling a house yourself has its benefits and disadvantages, as the expertise, professionalism and knowledge a qualified and certified real-estate agents brings to the table can never be downplayed or over-emphasized.
Real-estate agents often understand the business more than you do and can most times get you a better deal as they know what to look out for in a property and how to identify the right person to get the best deal from at a fairly decent timing.
Trying to sell your house yourself might generally offer you more money, but on the other hand, you might realize it is not as easy as you thought it will be, trying to sell your house yourself, as most people who try selling their properties themselves often resort to paying for the service of a real estate agent after months of trying to sell the property without success, and not to talk of the fact that you might not be able to value your property most fittingly, as over-valuing your property might result to it being on the market for too long and under-pricing it will lead to loss of profit, as real-estate agents are armed with the resource of experience, skill and a vibrant network that enables them generate many leads for your house, giving options that would eventually facilitate a better deal.
PROS OF SELLING YOUR HOME YOURSELF
1. You can earn more profit by avoiding paying agent’s commission
2. You will be in control of the whole selling process as there are no intermediaries between you and the intending buyer(s).
3. You might not have to put up with thee attitudinal problems of some real-estate agents who might be inconsiderate, rude and unprofessional.
Some ways to decide what price you’re probably going to be getting for your property without hiring an agent includes hiring a valuer to assess your property and estimate its value, use homes with similar features as your own which are on sale in your locality as a benchmark to mark your price. You can also use information from real-estate magazines to peg a price for your property, or simply talk to a local agent.
You can also observe potential buyers’ reactions to your property first hand without having to hear second hand what your agent wants you to hear.
You know your home and your neighborhood better than most so you will be well placed to point out all the benefits of both to prospective buyers. Real estate agents may not remember all the features of your home along those of all the other houses they are trying to sell.
CONS OF SELLING YOUR HOME YOURSELF
1. You risk undervaluing your house and selling your house for lower than it should go for. Even with the money saved on commissions, you may walk away with less than you should have. Statistics show that sales by owners in the United States for instance, often attract lower prices than agent-assisted home sales.
2. A real estate agent is likely to have much more experience and knowledge about selling a property, overcoming buyer concerns and negotiating prices upwards, having a stronger probability of landing a more beneficial sale.
3. A real estate agent has more channels to market your property including their websites, or a database of potential buyers or re-targets and their network of agents. These may include his or her own database of potential buyers known to be interested in your area, the agency’s website and connections to other agents. The wider you can throw your marketing net, the more potential buyers you can pull in.
4. You may not have the time required to keep the sale process going as this might require a lot of your time and attention which you might not have.
5. Work commitment might hold you back from having time to actually pick up calls from prospective buyers and afford you time to show them your building.
6. Advertising your property yourself will most likely cost you more as opposed to using an agent because agents often are more acquainted with the best channels for marketing your home and know where to get a discount.
7. Potential buyers would often try to ridiculously knock down your price as , because they might read your relative inexperience.
Nedcomoaks real-estate company offers houses for sale in Lekki, in places like Chevron, Lafiaji, Ikoyi and other areas around the Island, also offering consultancy for investors or property buyers.