The idea of not using an estate agent to sell a house can be extremely attractive and avoid paying the commission fees.
But is it worth it?
A good professional is an expert at selling property and should have access to the right buyers and capable of negotiating the best price possible according to the market conditions, and all, within a reasonable amount of time.
The estate agent works for the buyer as he gets paid and should guide him through the selling process and is responsible for vital steps to ensure a successful sale:
- Provide an estimate price for how much the house will sell
- Suggesting improvements/repairs in order to increase the likelihood of selling at the best price possible.
- Writing the description of the property, together with the photos. This is an essential step to get it right, because undoubtedly will have a negative impact if not done correctly. And there are legal implications if not done correctly.
- The success of the sale is based on the exposure the house gets. Advertising on the local press, and on free websites, is generally not enough. Estate agents have access to the major platforms, buyers mailing list, internal agent’s networks, the use of social media, and some go the extra mile with more creative strategies.
- They will handle viewings, saving the seller precious time.
- Negotiating a deal is a crucial step and having a third party involved is probably the best approach, as this time can be very emotional. The estate should get the best possible price for the property, and here is when the seller needs to be careful to choose the right professional.
- Some agents can arrange mortgages, surveys, and conveyancing. The mortgage brokers should be independents and using the recommended surveyors or solicitors might be a good idea, as generally they are reputable and potentially cheaper thanks to recommendation deals.
Leaving to someone else the advertising, the viewings, and price negotiations is definitely a smart move.