The Power of Real Estates Agencies
When it comes to selling property, while the potential money saving benefits of going solo may appeal, the experience and ease that estate agencies offer cannot be beat.
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 the commission fees charged by real estate agents, it also means that the seller will have to do all the work themselves.
“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 five percent of South African homeowners decide to take this route,” says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
“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 in correctly pricing their home, marketing and advertising the house, be available for show days, and negotiate the sale.”
Due to their expertise in the field, an agent is far better equipped to handle the sale process, taking much of the responsibility off the shoulders of the seller. 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 find the right calibre of prospective buyers.
According to Goslett, there are four other reasons why using an agent will help sellers make the most money in the shortest amount of time when selling their homes: Potential Profit
While many people think they will make more money by avoiding paying commission fees and handling the sale themselves, statistics reveal otherwise. In most cases, selling the property through an agent will bring about a higher profit, often enough to cover commission and more. “The estate agent has the experience and resources to price the home appropriately,” explains Goslett. According to studies, homes that are priced correctly when they are first listed, sell faster, and for a better price than those that list at inflated prices and linger on the market for longer than they should. “The longer the home stays on the market, the more the price tag will decrease.”
It will not take long to list a 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, which can all 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 efficiently,” says Goslett.
“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 the seller would themselves,” says Goslett. Considering that a home sale is probably one of the biggest deals one could make, it makes sense to use the negotiating skills of a seasoned professional. Listing the home with an agent also means that the seller will get the marketing power of the agent, and access to their network and connections. Lower Risk
If a homeowner sells the property themselves, they run the risk of making mistakes and dealing with the possible legal consequences. “The [selling] process can be complicated, and there is a lot of paperwork that needs to be completed correctly. An agent will know the ins and outs of what it required and how it needs to be filled out,” says Goslett.
Due to the nature of property sales and the huge financial impact these transactions have on the lives of people, the right estate agent can add value and be a helpful, professional guide for homeowners to rely on.
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 the seller would themselves.