Real Estate Myth
One of the biggest myths in the real estate industry is that real estate agents are the only people who can successfully sell real estate. This is not true, if you are motivated you can easily and effectively perform the steps involved in selling a property as outlined in the 8 Steps to Selling Real Estate. There is nothing stopping you being more successful than a real estate agent at selling your property.
Most real estate agents are good at their job and will sell your property within a certain time for a reasonable price, but this comes at a considerable cost. The commission real estate agents charge is usually between 1.5% to 3.5% of the sale price plus advertising and marketing expenses, which can amount to around 1% of the selling price. The commission and fees you pay real estate agents can add up to a lot of money, which is essentially money that you are losing on the sale of your property.
Have a look around for real estate agents who charge a fixed commission or offer an agent assisted service with a reduced commission. An alternative to contracting a real estate agent to sell your property is for you to sell privately, often known as For Sale By Owner (FSBO) or Do It Yourself (DIY). This involves you performing the majority of tasks involved in selling a property while utilising the resources made available by websites like Privatepoint.
Benefits of selling your property without the use of a real estate agent include:
• Saving Money – selling your property yourself allows you to keep the 2 to 3% commission that real estate agents charge.
• Selling Faster – your property will sell faster as you perform direct negotiations with potential buyers cutting out the middle man and saving valuable time.
• Increased Negotiating Power – you will have more direct power and say over negotiations on your property. As you are paying no commission you have more room to negotiate with buyers.
• You know your property – No one knows your property better than you making you the best person to market your property and show it to potential buyers.