Real Estate For Sale by Owner Bargaining Chip
Privatepoint is the real estate for sale by owner private real estate sale website where you can sell privately with no agent or commission.
As a property owner you have decided to sell your property privately without using a real estate agent in an effort to save on sales commissions which real estate agents charge. This is the perfect bargaining chip for the property owner for when they are dealing with property buyers, especially those who submit offers which are well below the price the owner is asking for the property.
A property owner should response to the interested buyer by saying, “The property is priced just under market value as I am selling privately so i do not need to pay commission to real estate agents. Half the commission I would normally pay a real estate agent has been used to set a lower than market value price while the other half commission I have kept for myself.”
Understand my point? A property owner needs to let the potential buyer know they have passed on half of the real estate agent commission to them, meaning the property will be sold below market value. Once these potential buyers do the calculations they will see they are getting a bargain and will more likely than not snap up the real estate purchase!
Comments
There is 1 flaw with this strategy!
Most private sellers don’t price their property using this method, they price it at or above the market rate for similar properties on the market.
There would be a few who do it correctly (this way) but the majority are too greedy or just have no common sense!
T-Bone
11.11.08
5:04 am
T-Bone,
You really have it in for private sellers, most of your remarks are pointing out the stupidity of us. I don’t think too much of what you say is factual and reflects the truth and speaking for the majority of us you do not give us the credit we are due.
I have successfully sold properties privately and not done the things you often point out.
JaneH
11.11.08
6:09 pm
That’s the way JaneH, get in there and stand up for us!
This strategy makes sense, but i find the issue is getting buyers informed about my property. I find all of these private selling websites very ineffective at generating enquiries.
Amanda B
12.11.08
2:12 pm
Jane and Amanda, I am as equally critical about real estate agents as I am about private sellers.
I also am only ever speaking about the minority, as i do believe there are genuine and excellent real estate agents and at the same time competent and successful private sellers.
But what i also know is that there are a small amount of cheating, lying rogue agents and incompetent, greedy and uneducated private sellers as well.
Sorry to offend anyone, i am just stating the facts.
T-Bone
13.11.08
4:16 pm
Also, i do think this strategy is excellent. I believe Bob wrote an article about it sometime ago and if executed correctly should result in your property selling in a jiffy.
T-Bone
15.11.08
6:18 pm