When you decide to put your house on the market, it can be tempting to cut out the middle man. However, a 'For Sale By Owner' sign comes with its own set of pitfalls, and sellers should weigh the options carefully before taking this route. Consider these reasons for hiring an experienced broker instead.
Selling your home can be a full-time job in its own right. If you're busy with work, friends and family, you might not be able to dedicate the necessary time for such an undertaking. Arranging and conducting viewings, negotiating with potential buyers, organising paperwork and preparing a marketing strategy are just some of the tasks you'll be responsible for. Brokers can dedicate more attention to these vital steps and are able to judge which buyers meet the correct income and credit requirements. Allowing unqualified candidates to view the property can waste a great deal of time.
Tap into expertise
Professional brokers are highly skilled in a wide range of areas, from selling and negotiating to marketing and networking. They have in-depth knowledge of the relevant financial and legal requirements of putting a property up for sale and are stay up-to-date with local market conditions. Attempting to sell a home without this expertise risks violating regulatory requirements, receiving less than the market value or spending a longer time than necessary completing the transaction. In addition, owners typically overvalue their homes, which is likely to deter potential buyers.
Selling a home can be an emotional experience, making it difficult to keep a distance when you're embarking on the process alone. While brokers remain dispassionate when listening to criticism of a property, negative feedback is much more difficult for an owner to hear. Having lived in a home also makes it more challenging to see it through a buyer's eyes, so you could overlook its faults. Brokers will spot problems instantly and advise you on simple staging tips that could increase the chance of selling your home, as well as identifying a realistic selling price.
Benefit from exposure
Homeowners simply don't have the resources to market their property to potential buyers as estate agents can. Not only do brokers have their own professional networks, they are also likely to have a tried-and-tested online strategy for publicising the sale of your home. In addition, only licensed brokers are permitted to place properties on industry membership organisations such as the Multiple Listing Service and specialised search engines like Realtor.com. With more and more purchasers finding homes online, these are significant opportunities to miss.
Get the best price for your home in the shortest time possible with the help of Engel & Völkers. Our property experts offer a tailored range of services that take the hassle out of selling your property, ensuring a smooth and speedy process.