These days there is a bit of a debate on the merits of selling privately or going through an agent. So I thought I’d weigh in.
Basically the biggest perceived benefit of private sale is saving money on agent’s fees.
If you decide to sell privately, high demand means you’ll probably still sell – but getting the best price is not as simple as it looks. The expertise of an agent means you’re likely to get a better price, so you’ll make money despite paying a fee.
Agents know what they’re doing
There’s more to selling a house than placing an ad on a few websites and putting a sign on your front lawn. You have to think about dressing your house, photos, advertising, open homes, legal issues, negotiating with buyers. It’s a big project that needs managing, and agents have that expertise and know how. We know what sells a house.
Things like dressing your house so that it’s presented in the best possible light, both in the marketing photos and when the buyers come to look. If you’re still living in the house or if it’s empty we give advice on how best to showcase your home.
Making sure the right people know
We take care of all the advertising and marketing. Our ongoing relationships with advertising agencies get us deals and discounts not available to individual sellers so opting for a private sale means your advertising can be more costly than you think. I should also mention that Private Sale websites and even Trade Me all charge to place a listing, with some of them increasing the charge with each photo you add. And there is no guarantee you’ll get the traffic needed though the website to find the right buyer. It’s a tough market out there.
Agents create competition through their wider advertising scope and by talking up the demand for your house. And because there is usually a team of agents working on your sale you actually get value for your dollar.
Reading the fine print
Agents also deal with all the legal issues – we’re governed by the REAA so you know there will be no surprises and there is protection for both sides. So because private sellers are not obligated to say anything about potential issues or problems, if something does go wrong there is no recourse for either party.
Mediator, negotiator, counsellor, confidant
Agents also act as a go between – setting up appointments to view, keeping track of open days, screening potential buyers and dealing with general enquiries. And most importantly, we are often able to deflect negativity. You see, it’s hard to know what a buyer truly thinks. Often they won’t be honest about their opinion in front of an owner for fear of conflict or offence. But because an agent is neutral, people are more likely to be straight with them.
So while you think you might be saving money through private sale, an agent is not only more likely to get a better price on your home, but they’ll save you time and stress. Getting the best possible price for your home benefits us both – and we’ve done it all before.
Till next time, Eleanor.