Who should sell my house? Myself or a Real Estate Agent?

When you’re thinking “I’m going to sell my house”, you also have to think carefully about getting the sale process right. Because it can dramatically affect the outcome.

Your home sale is a great opportunity to produce a maximum gain from all the work you have already put in – that is, acquiring the house, servicing the mortgage, improving and maintaining the home and garden. This can involve years and years of effort so make sure it pays you back handsomely!

Selling your house or investment property is one of the biggest financial transactions most people will make in their lifetime and it should be approached thoughtfully using expert advice.

There are pros and cons of doing it yourself – a ‘for sale by owner’, compared with using a real estate agent but the benefits that come with having an excellent real estate agent involved vastly outweigh the ‘for sale by owner’ option.

What a Real Estate Agent will do for you:

• Help decide on the best method of sale; i.e. auction, private sale, or by tender
• Give you an accurate valuation of your property
• Conduct inspections and open for inspection days, recording all buyer’s details.
• Use their own prospect database to provide more access to buyers
• Manage all the enquiries about the property
• Do the negotiating for you, to ultimately achieve the best possible price
• Give you legal protection in case complications arise

A Real Estate Agent will also:

• Coordinate the marketing, including advertising, flyers, floor plans and photography
• Produce an advertising schedule that will get the exposure your home needs to attract buyers
• Prepare a Contract of Sale for the home
• Help arrange conveyancing, plus the necessary financial and legal services
• Complete the sale with a conveyancing specialist or property solicitor

Selling your House yourself:

If you decide to sell your home yourself and therefore more than likely conduct a private sale, it’s likely you will be exposed to far fewer potential buyers, because private sale listing websites don’t have enough stock to attract a wide enough audience or awareness around your property. Selling a home privately may actually handicap the sale.

The positive side of a ‘for sale by owner’ is saving a commission fee which can vary around 1 – 3% depending on the value of your home. You also get to meet prospective buyers face to face and can engage with them about the home’s finer points. Or get a better idea of how keen they are. These aspects may appeal to some sellers more than others.

If you do decide to sell your home yourself, you need to consider how much experience you have as a salesperson i.e. how well you can negotiate a price in your favour or how much you really know about the home sale exercise – also taking the current market conditions/sentiment into account. Because the valuable insights of a good real estate agent, gained from years of experience and multiple sales under their belt are very helpful tools to have working on your side if want to maximise the sale price when you sell your home.

If you’re thinking “I’m going to sell my house”, think about the benefit professional experience can bring, more importantly independent qualified advice – it’s the best route to a successful result.

Vendor Marketing – Melbourne’s most qualified vendor advocates, specialises in both property marketing and real estate agent selection for property sellers within Melbourne. Therefore we are independently qualified to help you through the process of selling your house and then ultimately maximising your sale price!