Author: Bill Rawson
Chairman of the Rawson Property Group
18 March 2019
Selling property privately vs using a qualified agent
Let us face it, the last thing most men and women need to do when selling their property is hand over a bit of the profit to their real estate agent. This is based on Bill Rawson, Chairman of this Rawson Property Group, that states a lot of prospective sellers ask themselves whether it’s worth having a broker whatsoever — how hard is it to sell a house with the advice and tools available on the internet?
“Selling home is a good deal more complex than most people realize, that is part of the reason there were so many poor estate agents out there before compulsory qualifications and stringent industry regulations were put in place,” says Rawson.
Personal sales are certainly possible, but almost invariably wind less burdensome for your vendor, he states. “It requires a lot of work, a lot of expertise and a lot of ability to sell property nicely, and without the right training, tools and commitment, it’s extremely difficult to effectively navigate the marketplace.”
Rawson says one of the common problems contributing to the misconception that estate brokers aren’t worth their commission is the fact that the better your agent, the less it may feel like they’ve got their keep. A fast, easy sale is your goal, after all, but it doesn’t exactly make selling property seem like hard work.
“Top sales amounts are attained through finely honed negotiation skills and a deep comprehension of buyer psychology, and mastering those skills takes years of experience and access to vast amounts of industry data. It is not something you can find off the net in a few weeks, or pick up on a whim.”
According to Rawson, this experience contributes towards the sales process from before the property is listed.
“A fantastic agent knows what buyers in your area are searching for, and also will have the ability to give you clear advice about how to increase your home’s appeal prior listing. They will also be able to run a detailed value quote based on accurate and current market information to establish a realistic listing price for your house,” he states. Obviously, these solutions are usually complementary, therefore morally flexible private vendors could utilize this information for their own sales campaign. That would, however, mean losing out to the substantial marketing and promotion expertise of an established real estate agent, says Rawson.
“Leading agencies in South Africa spend a huge quantity of money and time on producing high-quality marketing material and distributing it via well-established channels for maximum exposure within their customers’ target marketplace. The tools available to private vendors, on the other hand, tend to be fairly limited and simply can’t reach the same numbers agencies with extensive buyer databases perform,” says Rawson.
As well as this, he states many buyers are wary of private sales, as there’s always a danger of complications from substandard paperwork or legally non-compliant processes.
“Good estate agents will have tried and tested, fool-proof contracts, and are able to customize them without compromising the agreement in any way. In addition, they have networks of business contacts for everything from compliance certifications to bond originators and conveyancing lawyers, and can offer invaluable information on all pieces of the sales procedure to both sellers and buyers,” says Rawson.
He points out the fact that the majority of buyers who are willing to risk a private sale are due to how the seller is not paying commission, and will frequently decrease their offer accordingly. This, along with limited exposure and so minimal buyer competition, nearly always results in supplies well below market value.
“In my many years in the home business, I could probably count the amount of truly successful private sales that I’ve seen on one hand,” says Rawson.
“Sellers are much better off — both emotionally and financially — paying a reasonable commission to a qualified professional and appreciating a hassle-free experience.”
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