There are always two sides to the coin when it comes to selling your property. Selling it yourself always seems like it is a good idea to save on costs, but when it is actually done, many property sellers quickly realize the extra benefits they could have got if they sold their property through a real estate agent. Many people look at the real estate agent’s fees from the sale of their properties and are concerned with how much they could have saved if they had done it themselves. The fact is it is more than just the money. It is the cost impact of time, lifestyle and the overall profitability from the sales process. This team offers an online tool that compares real estate agencies and agents that can help with the successful sale of your property. They can explain the benefits of selling through an agent rather than selling it yourself.
Unless you have experience in real estate marketing, you may find it difficult to attract the right type of buyers to your property. Real estate agents already have access to a network of buyers and a marketing infrastructure that will attract prospective buyers. Real estate agents usually receive preferential rates with advertising platforms since they make multiple listings. They will already have the expertise as to what type of marketing works in each media channel and the timing of the media activity as well.
When it comes to selling your property, the pricing strategy that you use can make or break your sales success. Real estate agents should be able to advise you on a good pricing point that will encourage prospective buyers to purchase the property, given that the property has been marketed well. For example, pricing towards property investors needs to take into account the equity profit margin that they can gain. Purchasing the property at the highest end of the pricing point will leave little or no room for profit. Additionally, potential owner occupiers will be deterred should they feel like they are priced out of the market or the property doesn’t offer the perceived value for money.
Many property owners that sell privately aren’t aware of the investment that is required to market the property successfully. The property needs to look attractive to prospective buyers, which means making use of a skilled photographer, which will probably cost a few hundred dollars. Secondly, the write-up of the property will require a skilled real estate copywriter which can also set you back a few hundred dollars. Thirdly is the marketing of the property across property web portals and in relevant media magazines and newspapers. Additionally, real estate agents will have access to lists of prospects that are actively looking for properties in that market. This can put property sellers at a distinct advantage to raise the buyer demand for their property.
The price that you want for your property and what prospective buyers believe its is worth are two completely different things. Selling your property privately can work, however realtors will know the market demographic that is looking in your area, what their buying motives are, their budget range and the important factors that will lead them to making an offer on your property.
Selling your property has its challenges and many property owners are prone to make mistakes that can cost them dearly in the long-run. Check how you can avoid making mistakes when selling your home and how the use of a good agent will aid in your property selling success.
Sources: Peter Cadoux Architects.
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