5 Reasons You Are The Best Person To Sell Your Home
Don’t think you’re qualified enough to sell your own property? Oh my, do we have news for you.
Naturally, real estate agents will tell you you’re not qualified to sell your own home. They’ll say you’re too emotionally invested and don’t have the expertise. Well, who would blame them for protecting their jobs? After all, their livelihood rests on selling property, so it’s no wonder they don’t want you to think you can do it yourself. Alright, enough of the sob stories. There are plenty of people out there who fall into predicaments where agents are the optimal choice. But for the rest of you, we know you can do this.
Not long ago, car dealerships were in the same position as real estate agents, and look where we are now! Companies like carsales.com.au have made it the norm to sell your own car online.
There’s no doubt agents had their day in the sun. But, that was when we weren’t able to list our properties on leading property portals without agents. We relied on agents to help us get the proper marketing exposure to sell our properties. And boy did we pay for it with commissions of up to 3% of property sale prices.
Take a deep sigh of relief because those days are well and truly gone. You, the owner, can have access to all the same real estate websites and advertising exposure that agents do. How? Well, through commission-free private real estate companies like us at buyMyplace, of course.
Let’s dive in to the five solid reasons why you – yes, you – are best person to sell your property.
1. You have your best interest at heart
You are selling one property, your property. Agents are responsible for several listings at once, so their time and attention is divided. We hate to say it, but the reality is your property might not be the most important property on their books. Unless, of course, yours is the most expensive property that will score them the biggest commission. You only have one motivation, which is to sell your property at the best possible price.
You decide when to host your Open for Inspections. So, you’re not limited to an agents time frame. Busy on a Saturday morning? Host one in the afternoon. Think the traditional 15-minute window is too short? Host your inspections for 30-minute windows instead. The point is, you’re in charge, so you can work around what works best for you.
With a little bit of research, you can set your property’s price at a fair and reasonable number and still get the price you want. If you’re in a hurry, you can discount the property and still save money because you’re saving thousands in agent commissions. Alternatively, you could use those savings to your advantage by giving yourself some additional negotiating power. Without the burden of paying a huge commission, you’re empowered to adjust your sale price however you want.
2. No one knows your property better than you
The ultimate advantage you have over real estate agents is that no one knows your property better than you. You know the ins and outs of your property, such as the average monthly electricity costs. You can point out the sunniest spot in the garden, how easy it is to maintain the house, and the best cafe in town. Personal insights like these is the reason buyers love to deal directly with you, the owner. Those intimate details help people envision their future in that space.
Agents will tell you no one knows the real estate market like they do. But, with the power of the internet, you can learn about your local market at the click of a button. It’s just a matter of doing some research. Have a look at current and recently-sold properties from your local area. Are you facing a highly competitive landscape? What is the going rate for properties in your suburb? Real estate websites like Realestate.com.au and Domain.com.au are great places to start your research. Remember, there is so much information at your fingertips.
3. Put your hard-earned dollars back in your pocket
The commission you’re required to pay an agent upon the successful sale of your property can vary between 2-3% of your sale price. At first glance, 2-3% doesn’t sound like a lot, so let’s put things into perspective.
Let’s say your property is worth $600,000. This means you’ll be paying nearly $20,000 to an agent for something you could have done just as well. Surely you’ll agree that’s a lot of money, which is far better suited in your pocket than an agent’s.
Top tip: Some agents may quote a lower commission rate. However, that usually means they will charge an extra 1% on top of their commission for marketing and advertising costs. Remember, selling privately gives you access to the same advertising exposure as agents, just without the obligation of paying outrageous commissions.
4. Cut out the middle man
Agents claim buyers feel uncomfortable looking at homes when the owner is present. However, our vendors report quite the opposite. As long as you give buyers some privacy to look around without being in their faces, buyer don’t have an issue with it. We’ve found that best practice is to give buyers a brief summary of the property’s layout and let them know you’ll be at the front door if they have questions. In fact, buyers tend to love that they’re able to ask questions about the property and receive immediate responses. Simply ensure you’ve prepared for any questions they may have in advance.
5. A simpler conversation
Negotiating the price of your property isn’t the big scary monster agents want you to believe it is. Simply put, it’s just a conversation about money. It gives you an opportunity to be honest about your needs and provides buyers with the chance to be honest about theirs. Our vendors have reported this part of the process is far less combative than it is using agents as an in-between. Since both parties have met at the Open for Inspections, there is often a rapport established between them, making it a pleasant and friendly experience.
That said, we understand talking money is uncomfortable for some sellers. So, the option is always there to enlist the help of a professional negotiator when it’s crunch time.
At the end of the day, selling your property privately is about believing in yourself. With the power of technology and the in-depth knowledge you have of your property, we think you’ll smash it out of the park. Besides, if you get stuck along the way, we’re always here to lend a helping hand.