Five Reasons not to sell your home privately!!!!!!!

Kiran from Borders Real Estate - Flat Bush

Five reasons not to sell your home privately
It is completely understandable to be tempted by the idea of selling your home yourself, without the help of a real estate agent. Real estate agency fees are a sizeable amount of money no matter what the value of your property might be. And at the start of the process, the only number you have that you can focus on is the selling fee or commission, since you have no idea what your home is going to sell for,yet. When it comes to private sales, there are traps to watch out for though. Let's go through them:
1. You have to deal with master negotiators. There is a reason why experienced property investors target homeowners selling their homes privately: They are expecting to secure a bargain. When you sell your home privately, it's the real estate equivalent of playing tennis against a professional athlete, with hundreds of thousands of dollars at stake. Are your negotiating skills up to the task?
2. You don't know what you might be missing out on. In most real estate markets, it's easy to sell your home privately. What is challenging is coordinating competition. Let's say you have five people trying to buy your home at the same time, are you going to run an Auction? A deadline sale? Or will you just take the first offer atyour asking price?In real estate, competition between buyers is thekey to achieving a premium sale price. A goodreal estate agent has proven systems to manage interestfrom multiple buyers to ensure youwalk away with the best possible result.
3. Market research takes time. A lot of time.Before you can understand what your home is worth,you need to learn about your local market.That means going to countless open homes and chasingup agents to find out what thosehouses sold for. Then you can compare them to yourhome to come up with an estimated valuerange. This is the process used by valuers and agentsall over the world, who usually visitdozens of houses every week.Skip this step and you might end up selling your homefor far less than what it is actually worth.Alternatively, you could end up overpricing your homeand struggle to find a buyer in areasonable period of time.
4. You miss out on key marketing channels.Some of the busiest real estate websites only allowproperties to be listed by licensed realestate agents. When you sell your home privately youcould be missing out on a large portion ofthe market. Including buyers who might be perfectfor your home, but have no idea it's for sale.
5. Buyers make decisions based on trust and relationships.Imagine you have just made an offer on a home withan agent (or owner) you have never met.Shortly after, they tell you another offer has comein and you are now in competition...Do you believe them? If you are like most buyers,then you would be understandably sceptical."Is this just a ploy to get me to pay more?"Now imagine that you have dealt with a busy localagent on 3 or 4 houses and missed out in acompetitive situation each time. That same agent nowtells you that you are in competition withat least 4 other buyers.Chances are you will increase your offer in this scenario(if you can) because you trust that theagent is telling you the truth, based on your recentprevious experience.This level of belief or trust is a hugely underratedaspect of the real estate process. It helpsbuyers avoid wasting their time and helps owners achievea market price for their property.As experienced local agents, we have relationshipslike this with dozens of motivated buyers inyour area who are looking right now. And we wouldlove to introduce them to your propertywhen you are ready to move.Call us today to book a free consultation to talkabout your real estate goals