Selling property privately is often considered by homeowners as “easy”, assuming they can achieve the same result as using an agent. However, this approach comes with huge challenges that should be carefully weighed up before making a decision.
Buyer hesitation: Buyers often feel more comfortable dealing with an agent rather than negotiating directly with the seller, as they trust the agent to act as a neutral party.
Price perception: Buyers may believe that since the seller is not paying a commission, they can negotiate a lower price, possibly leading to reduced offers.
Limited reach: Real estate agents have access to a far wider network of potential buyers through dedicated property websites, publications, and industry contacts.
Filtering serious buyers: Agents can help identify genuine interest, saving sellers from investing time and effort in non-serious inquiries.
Regulated industry: Real estate agents operate under industry regulations that protect both buyers and sellers, providing peace of mind during what is often a complex transaction.
Human factor: While listing on popular websites is common, engaging an agent brings a human element to the process, which can be crucial in building buyer confidence and completing the sale.
Maximising value: Without professional guidance, sellers may miss out on achieving a premium price for their property, as they may not have explored all marketing avenues.
Independent third-party assurance: Buyers often seek assurance from an agent during the negotiation process, making them more likely to proceed confidently.
Comprehensive marketing: Agents offer tailored marketing solutions that cover everything from photography and signboards to digital and print advertising, ensuring the property gets the exposure it needs.
Success-based fee: An agent’s commission is typically only paid when the property is successfully sold, offering sellers some assurance that they will not incur costs unless the sale goes through.
When considering whether to sell privately, it’s important to weigh these factors against the perceived savings of avoiding an agent’s fee.
For some, the assurance and support an agent provides may ultimately lead to a more successful sale and a better overall outcome.
