Agent Free Sales – Does It Save Or Cost You Money?

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The real estate market is currently being bombarded with ‘DIY’ solutions for selling your property. This concept means cutting out the agent and is enticing sellers with the idea they will be saving money on commission by completing the sale themselves. Sounds simple enough in the advertisements but when you really take a look at the process you are actually jeopardising the sale of the largest asset you will own in your lifetime. An experienced agent can significantly impact the final price achieved in the sale of your home, impacting the overall profit margin from the sale.

In the current market, selling your home requires more than a signboard, online advertising and a kit with relevant documentation. It requires an expert. An experienced agent will utilise a tried and tested formula from start to finish in the process of selling your home. Initially they will reach out to a database of qualified buyers that are ready to purchase that they have compiled through their previous sales activity, a selling tool that no individual seller will have access to through a DIY solution. An experienced agent will then implement a customised marketing plan for your property that will reach the target market that will be willing to pay the highest price for your property. As part of this marketing plan they will then need to handle all the enquiries that come through from prospective purchasers. Many DIY sellers overlook how time consuming it is to sort through the enquiries to find the right buyer, ending up wasting countless hours on emails, messages and phone calls that never eventuate into a sale. A good agent will manage the enquiries until they find the buyer willing to pay the highest price and will use their negotiation expertise to secure the best offer and the best possible terms and conditions. They will also apply their knowledge and skills to manage the legal side of the sale, protecting you from any costly issues that may arise and give your contract the best chance of reaching settlement.

While it seems appealing to ‘save’ the money by not paying an agents commission, it really is an investment that you should think very carefully about. An agent dedicates many hours work to preparing a property, marketing a property and managing a sale to achieve the best price possible for your home and ensure you remain protected legally and personally. Their commission payment is not only for the hours they work but also for the skills, knowledge and expertise that they offer throughout the process which realistically impacts your profit margin. A decision that you think could save you thousands could really be costing you much, much more.

DAVID HOLMES — INDEPENDENT REAL ESTATE AUCTIONEER