Deciding To Sell Your Property Privately
Is a private sale more suited to your aspirations?
In a private sale, you take on the roles traditionally performed by a real estate agent. This includes tasks such as setting the sale price, marketing the property, conducting open homes, negotiating with potential buyers and completing the legal requirements. It's a considerable responsibility, but it can be an empowering journey when done right.
One of the most enticing prospects of going the private sale route is the potential for savings. Usually, real estate agents charge fees that range from 2% to 5% of the final selling price. Avoiding these costs means that you could retain more profit from your sale. But it's important to note that while you may save on agent fees, other costs - like marketing and legal services - will still apply. On the flip side, although you could save on commission, if Agents achieve a higher sale price, even with commission off the top, you may be able to achieve more in hand. Experienced Agents have years of negotiating skills & campaign strategies, whereas doing it yourself you may not have the same power to push buyers up. For marketing Agents usually have the best contacts for photographers, and know where to best spend your money to get the best results. In lieu of an agent, you'll need to: Set a realistic sale price: Research recent sales in your area and consider professional valuation. Market your property effectively: This includes professional photographs, signage, online listings and potentially staging your home for viewings. Host Open Homes: You'll need to coordinate times that suit both you and potential buyers. Negotiate with potential buyers: Be prepared for this complex aspect of selling a property. Complete all legal requirements: It's advisable to engage a lawyer or conveyancer for this part of the process.
With careful planning and execution, selling your property privately can be a rewarding venture. Just remember, patience and persistence are vital throughout this exciting journey.
View our full article on PrivateProperty Sale in NZ: A Seller's Step-by-Step Guide.
