Selling your home can be a time consuming and costly exercise, especially when it is your first time with no experience and no knowledge of how the transaction will unfold.
Although you as the Seller will have to pay an agent commission on the sale of your property (which can normally be negotiated) there are definite benefits in appointing an agent.
The agent has access to reputable marketing platforms and websites which an individual may not have.
These are some of the benefits of giving your property to an agent to sell for you:
- You will save the costs of advertising your property for sale. The agent carries these costs and usually can do so more cost effectively than an individual.
- Experienced agents have built good relationships with bond originators who assist the buyers in financing the property (monitoring the process of credit affordability and checks that must first take place before a bond is granted).
- As seller you have the responsibility of appointing various specialized people to carry out some of you responsibilities such as electrical contractors, and pest control specialists. The agent can normally recommend and arrange contractors with good reputations for you. If you do not have your own attorney to attend to the transfer of your property the agent will generally be able to recommend an attorney who they have found to be reliable but the choice is always yours.
- The Agent will be able to advise a potential buyer what their legal costs are likely to be.
- One of the most important aspects when selling your property is the Sale Agreement. An agent will know what is important and what must be covered in the sale agreement and their agreements have generally stood the test of time. The agent will refer complex issues to a conveyancing attorney for input and guidance.
- The agent usually has a network of potential buyers and they also collaborate with other estate agents who may have potential buyers on their data base to improve your prospects of finding a buyer. In these circumstances the agents negotiate a commission split at no extra cost to you.