Looking to sell your place? These days, the most common way is to partner up with a real estate agent. In a nutshell, they'll do all the grunt work while you sign the papers and get the money. At least, what's what many people think. But is that all of what they do? Or to put it in another way—how will you benefit from working with a real estate agent? Just like with any other endeavor out there, there are pros and cons to selling your property through real estate. Some pros include getting expert advice and meeting great buyers while common cons are paying a commission and the risk of getting scammed.
Pros
You'll Get Expert Advice
As much as you want to sell your own property, there's one thing you won't get if you do: expert advice! The process is much more complex and complicated than you might realize. Not to mention the many legal issues you'll face too. You will need to know all of that to ensure a seamless transaction and if you're no real estate expert, you'll have to start from scratch. Do you have time for that? If not, at least sell your property through a real estate agent so that they'll take care of it for you!
Your Property Will Get Attention
It's not enough to put your property out there. Let's say your home is in France and you want to post about it on the
top property listing websites here. Do you know how competitive these platforms are? It's highly likely that your property will only get a handful of views! Now, if you partner up with a real estate agent, however, their marketing skills can guarantee that your place is front and center! It's part of their job, after all. They're there to ensure that many potential buyers can check out your home. Some will even go so far as to hire photographers to take great shots of your place!
You're Sure To Meet Great Buyers
Speaking of potential buyers, you can meet more of them if you sell your property through real estate. If you partner up with a great agent, especially one with years of experience and lots of achievements, they will use their vast network to your advantage. It's not even farfetched to think that a celebrity might own your home next! That has happened many times before. Moreover, when it comes to meeting buyers, it's important to note that most real estate agents will prefer to interact with other real estate agents for the benefit of their clients (buyers). This might prove difficult if you sell your property on your own.
You Can Avoid Legal Risks
Remember: the role of the real estate agent is to take care of your needs in more ways than one! Selling your property is a massive undertaking, one that might come with various legal issues. In countries like
France, Italy, Mexico, the US, and more, there are various laws that pertain to homeownership. But what if you don't know about them? What will you do then? Rely on your real estate agent. They'll deal with all the legal issues of selling your property. At times, both on your side and on the side of the buyers too!
Cons
You'll Pay Commission
Hiring a real estate agent is all well and good, but remember: you'll still have to pay them.
Investopedia states that the standard commission percentage ranges from around 4% to 6% of what you earn in the sale. And that's on top of the taxes and fees that you need to pay in order to legally finish this transaction. Now, considering that selling your property will earn you millions, the percentage might not seem all that high at first. But still, if you sell your place on your own, you can still keep that 4% to 6% for you to use however you like!
You Risk Getting Scammed
Don't think that all real estate agents can be trusted. At times, even when they're working for a reputable agency, they can still scam you. And at the end of the day, after all your hard work, you end up getting the short end of the deal. Do you want to take the risk? It's understandable if you don't! There have been many instances where sellers were scammed for practically millions of their money because of untrustworthy real estate agents. So if you sell your property on your own, you can easily avoid falling into such traps.
You Are Not Fully in Control
And finally, if you hire a real estate agent to help sell your property, you won't be in full control. At times, it might even end up that your agent will get full control of the transaction. On the bright side, they are professionals so they have the proper knowledge and expertise. Argubaly even more so than you. However, as already mentioned, this also puts you at risk of getting scammed. Also, if you're in full control of the sale, you can get to know your buyer more. You can ensure that they are worthy to own your property next.
When you want to put your property up for sale, should you do it through real estate? Well, if you know the pros and cons behind it, this might help you reach your final decision quicker! At the end of the day, it's how you benefit that matters.
