Selling Privately

The first challenge for any private seller is to establish the right asking price. Go too high and you’ll turn away potential buyers. Go too low and you won’t get what you deserve.

It’s natural to think that you’ll save money by selling privately, but our experience suggests this is not the case. With private sales, buyers expect a bargain. They will often try to negotiate the price down, arguing that the private seller doesn’t have to pay any commission.

Real estate agents create buyer competition and are able to use their negotiating skills to drive up the sale price. They have the experience, tools and resources to get the best price for you.

You may not save as much as you think when you sell a house yourself.

When you try to sell a home yourself, it may appear you can save some percent of the sales price by not paying a commission . However most buyers work with real estate agents when they are looking for a house, the reason is obvious . According to REAA the agents are supposed to disclose every single thing they know about the house whether it’s a pro or a con and hence the buyers feel more secure while working with the agent as compared to a private seller. So by selling privately you are missing out on all those buyers that a professional agent might have in their database, a pool of scared buyers who will only trust the professionals because they know they can take them to court if anything goes wrong. Eliminating most buyers, So the only buyer pool left for you are RISK TAKERS and the RISK TAKERS ARE ALWAYS DEAL HUNTERS. So you are now exposed to professional buyers who has excellent negotiating skills to bring you down on your expected or actual price that your house is worth for.

Open homes, writing and implementing your marketing campaign, negotiating the legal ins and outs – there’s a lot to organise when you’re selling a house. If you’re already busy with jobs and family, it can be difficult to set aside time to deal with these things.

A real estate agent takes the pressure off you, expertly dealing with buyers and making the process as smooth as possible, so there’s little interference on your life.

If you price a home too low or overprice a home, it can cost you thousands of dollars. When a home first comes on the market that is the best opportunity to sell a house, There are buyers waiting for the perfect home to come up for sale, and it is vital that a home is priced right from the beginning. If it’s overpriced then buyers will ignore the listing and it will become “Stale” in a couple of weeks. And after that even if you lower your price the buyers might think either their is something wrong with the house or some bargain hunters will pop up thinking you will still have more room for negotiation. If its underpriced you might end up selling it quickly but obviously you might loose $20-$30 K for doing that.

Whether it’s organising viewings or providing feedback, dealing with buyers can be time consuming and sometimes awkward.

They may ask difficult questions that you don’t feel comfortable answering, such as whether there are any known problems with the property, what building materials were used in its construction, or if there are any consent issues.

When you’re selling, one of the most important things is getting as many people through your door as possible.

At sell west we have access to a large database of buyers. We know who is currently in the market, and what those people are looking for. We work full time to get your home the exposure it deserves.

Do you know what buyers are looking for? Or how much houses in your area are selling for? Real estate agents have more insight into the local property market – from their experience of selling homes, access to comparable market data and the relationships they build with buyers and sellers on a daily basis.

It can be challenging to conduct effective negotiations when you’re emotionally involved. Real estate agents are not emotionally attached to your home, so can negotiate the best price on your behalf.

Private sellers typically market their home for sale by asking price, whereas it might not be the right way to market your particular property. At sell west we have experienced Real estate agent who can exactly guide you which method of sale is best for you and your property and why.

Auckland is a multi-cultural city and some home buyers feel more comfortable negotiating in their native language. So unless you speak multiple languages, you might end up narrowing your pool of potential buyers.

At SellWest, our team members speak a range of different languages including English, Hindi, Chinese, Bengali, Konkani, and are always on-hand to help with any communication difficulties.

You might also want to consider the fact that some buyers don’t trust private sales. When you buy privately, you’re not protected by the same rules and regulations as licensed real estate salespeople, and this puts many buyers off.