Sell It Yourself
‘Hmm,’ we hear you saying. ‘That’s a lot of commission. Why don’t I
sell it myself and save the money?’ After all, how hard could it
be…this is an especially entertaining thought if you happen to be in
some other field of selling. It is often said though that
“selling without the assistance of an experienced real estate
professional is like representing yourself in court…”
The only good motivation to sell privately is that you do genuinely
know an ideal buyer who is ready to pay an above-market price. The
question remains, however, were you able to negotiate the best
price? If you do have a genuine buyer you can still use us to sell
your property and nominate & exclude that person in advance or
negotiate a specific commission should they buy. The buyer’s name is
noted on the Appointment of Real Estate Agent form.
“For Sale by Owner” signs and ads also often attract lowball offers
from bargain-hunters expecting you to give them the commission in
the form of a price reduction. You end up losing the commission
savings anyway and you don’t get the benefit of the services we
provide.
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represent you and protect your interests |
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provide up-to-date market information of recent sales and competing listings |
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arrange professional photography |
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put up a “For Sale” sign at your property |
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write & book the advertising for your home |
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create & organise letterbox drop flyers to be distributed |
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place your home on various web-sites |
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market to other agents by word-of-mouth |
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email qualified buyers on database |
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screen prospects to protect you from “unwelcome sightseers” |
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hold inspections & Open Homes |
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show your home whether you’re home or not |
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respond to telephone enquiries about your home |
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respond to email enquiries about your home |
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pre-qualify prospects |
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match prospects |
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answer questions which prospects are reluctant to ask homeowners |
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type up contracts and other necessary documentation |
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complete a Title Search |
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analyse offers |
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write and present offers |
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negotiate |
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consult with solicitors |
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act as a buffer to keep the deal from getting too personal |
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arrange & attend building & pest inspections and valuations |
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resolve disputes |
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acquire estimates for repairs |
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take the final walk-thru (Pre-Settlement Inspection) with the buyers |
Types Of Agency Agreements
There are three types of Agency Agreements and they are included in
the Agreement to Appoint a Real Estate Agent form. When the
form is completed which Agency Agreement to be used is noted.
Sole Agency:
This is the same as an exclusive agency agreement except that
you can sell the property yourself without paying the real estate
agent a commission. This agreement is not often used as agents are
reluctant to do the work only to find that you claim the sale.
Usually, if you genuinely know a potential buyer, that person is
nominated and excluded in advance or a specific commission agreed
should they buy. In this case, an exclusive agency is indicated on
the Agreement to Appoint Real Estate Agent Form.
Open Agency:
A form of agreement where you can appoint more and one
agent simultaneously and only pay the successful agent. You can also
sell the property without paying any commission. It does not have an
allocated time period and can be cancelled at any time. It all
sounds fine but has major drawbacks in practice. Very few good
agents will devote much time or effort to a property where they may
or may not get paid. The agent’s emphasis will shift from getting
the best price to getting a sale at any price. An alternative, if
you have two real estate agents you are keen to use is to use an
Exclusive Agreement on a 50/50% basis between the two agents. Both
agents will work to get the best price for you as either can sell
the property and both will receive 50% of the commission payable.
Source: Sell for More: Gil Davis | Sell Your Home for
More: Nick Gromicko