Sounds like a plan doesn’t it? Here’s the thing though, when you try and sell your home on your own without the aid of an estate agent there are a few things that you probably may not think about. Here’s my take on it;
1. Properly pricing your home to go to market. Fair enough there is plenty of data readily available to everyone guiding sellers and buyers in the right direction. Often it is the emotional connection to ones home that has private sellers over pricing their homes by as much as 30%. So here’s the thing with this, after 3 weeks 70% of your buyers are gone and hardly ever return even when the price is more in line with market trends. This is where you begin to loose the perceived saving as your home stagnates on the market and usually ends up selling for less than its value or worse not at all.
2. Presenting your home to the market. Here again if you don’t present your home correctly it may just be overlooked by potential buyers as they miss what the house has to offer. For example all the little trinkets and goodies all over the shelves and tables cause clutter and immediately make the home look smaller than it is. All your family photos that you believe make it look more homely to viewers actually make it harder for them to picture themselves in the house. You want to move anyway so before having professional photography done and potential clients come through put all of it into storage.
3. Most sellers (not all) are not estate agents and will miss the subtle buying signals and may just loose a sale because of it. Also a lot of the clients taken on a viewing will have been vetted by the agents to try and avoid wasting time on buyers who cannot afford or will not qualify for the necessary mortgage.
4. Most decent estate agents are well trained in negotiating and overcoming objections. A seller may once again get stuck on an emotional level and not be able to overcome any objections or extra requirements from possible buyers.
5. As a private seller how much know how and access do you have to all the necessary tools available to get maximum exposure on your home? An agent will have a database (let’s call them hot buyers) to take your home to prior to listing on all the portals. Maximum exposure equals maximum interest which in turn equals maximum price paid. A solid proven marketing plan is key.
6. A network of reliable and capable service providers. It’s not about kick backs it’s about knowing the job will be done properly. Imagine you market your home privately and you do secure a purchaser and they give you an acceptable offer and off they go to their bank who approves a mortgage in principal but the terms are not all to reasonable for the buyer. On that note they withdraw from the deal based on the information in front them. However a decent mortgage adviser will fight tooth and nail on more than one front for the purchaser giving them more options and a better chance at a successful application.
These are just a few of the reasons one should always consider using a reputable agent to market their most valuable possession.
Till next time stay remarkable.