Selling property may be due to some very important reasons. Some people though sell properties as forced by some critical conditions and reasons. It may be due to financial problems such as cost cutting, going away for good, planning to buy a new house, and the likes. When a person decides to sell his property, the first thing to look for is the buyer. Literally, how can one sell property when there is no buying party to deal with?
One of the most common property put up for sale is the house. There are at least 70% of people who are looking for houses to purchase. Why not? It will be much less costly when one will buy an already fully furnished house than to still take the burden of constructing a new house with nothing but scratch.
The selling of property needs advertisement. Well, just in case the knowledge of the seller of the property is just limited to putting up a “For Sale” sign outside of the house, then he is terribly wrong. Advertisement in selling property covers a large arena. There is a multitude of ways to do so. Among of which are advertisements in radio broadcasts, television, through word of mouth, and the most advanced way—advertisement through the internet.
With the onset of the cyber web power, there are more and more people who surf the net to find answers to their desired information. There are as well a large percentage of potential home buyers who seek advertisements in the net as posted by the individuals selling property. Finding properties for sale online can be less tasking and hassle-free.
Those who consider selling property opt more to sell property in private. Why so? Agents are known to be the middlemen in a particular transaction. Their services require fees. Most agents who transact the negotiation of selling properties for other people charge up to 4% or more as sales commission.
Sellers of properties would as much as possible want to get the whole of the profit for themselves. It is quite understandable as times are too hard these days that they are pressing hard on the people. The tendency is for the owners to sell properties privately. Meaning, they do the advertisement and handle the task of finding the right and worthy buyer.
Why must you decide on selling property privately? What are the possible advantages that you will get from it?
First of all, estate agents charge up a real good deal of sales commissions. The rate of their commissions is in between the range of 1.5% up to 4%, not to mention the value added tax! In short, out of the whole amount, you will be tasked to pay the estate agent a certain percent which you will really be disappointed of. It is so unlike compared to the result if the selling of the property will be done privately. You need not pay an estate agent plus the whole amount of the purchase will be only yours to hold.
The estate agents will not be used to value the property. In most cases, the insurance companies do not recognize the effort and computation of the estate agents in terms of building up the insurance rates. The estate agents only base their computations on the rest of the properties which they have sold when in fact the computation of the insurance companies are far too different.
Also, these estate agents are usually only after the amount of the commission that they will get as soon as possible. So they simply just value the properties in very small amounts so the transaction of selling the property will be closed soon.
These estate agents are usually reputed for being notorious. There have been a lot of estate agents who have been charged and punished by the authorities because of misleading their clients therefore resulting to a loss of large amounts as on the part of the owner of the property.
Basically, estate agents act for the security of their interest. They prompt the buyers to purchase the property for sale simply so they can secure their commissions.
Now you know the disadvantages of employing an estate agent in selling property. If you can do it by yourself, so be it. There are a lot of private sales sites where you can advertise your property for sale and get relieved of the tiring expenses on commission rates.