Should You Use an Estate Agent Or Not?

Naturally, using an estate agent to buy or sell property would be the initial choice to make as their services have many advantages but at the same time there can be some disadvantages as well. We will discuss this in more detail and explain how it can be to your advantage to sell your property privately.

Using a Real Estate Agent - Advantages

The great advantage of using an agent to sell your property is that they can do so very quickly, probably quicker that you can, that if of course you have a buyer waiting to make a purchase immediately. Real estate agents have a large database of contacts and therefore making property selling more convenient. A real estate agent has good sales-man skills and they are able to highlight good points to potential buyers. Real estate agents might also be able to give you a market price of your house and what your property would be able to sell for.

Real Estate Agent Disadvantages

Although using one to sell your property might sound easy with the advantages explained, there are also some disadvantages that you should be aware of as well. The main disadvantage is that they have a large number of properties to sell and therefore might not give your property the deserved attention. Another main disadvantage is that they will charge a commission on the sale of your property. The buyer or the seller of the property would have to pay the commission. Another disadvantage is that your property might not be sold of the maximum value as often negotiate with sellers to reduce the selling price of their property in order for them to then make a quick sale. This then leaves you will less money for the sale of your property than you bargained for.

Doing it yourself - Selling Privately

Now that we have covered both the advantages and disadvantages of selling your property with a real estate agent, let us now compare with the advantages of selling and buying privately without using the agents. The main advantage of buying or selling property privately is that there is no commission that you have to pay due to the fact of no agent involved in the transaction. Not having to pay any commission means more money coming in and less money spent which therefore saves you money. Another advantage is that all decision making is up to you to make and you don't need to be pressure by agents who are mostly interested in the commission they will get and will therefore advise you to make decisions in their favor. Therefore, no agent equals decisions made by you only.

You are also able to choose from many properties and you are not limited to the properties the real estate agent has to offer. When you are buying or selling property privately you can also make negotiations yourself and you just might get a good deal.

The author is a independent bond originator in South Africa, specializing in home loans. To read more visit http://secubond.co.za