Selling a House Without a Real Estate Agent

architecture, building, driveway

Selling a house without an estate agent: the advantages and disadvantages.

 

Selling a house without an estate agent saves a lot of money at first sight. But not everyone can sell a property at a profit. In this guide, you can find out when it is possible to sell a house without an estate agent and who is better off relying on professional support.

 

Anyone who sells a house without an estate agent usually wants to avoid the very high costs involved. However, selling a property without an estate agent is not entirely trivial.

 

In addition to the time involved in selling a property, specialist knowledge is also required. If you want to sell the house privately, you should, therefore, have specific skills and also bring along different experience.

 

Selling a house without an estate agent: What are the tasks?

 

All steps of the selling process, which would generally be handled by an estate agent, are the responsibility of the current owner when selling a house without professional support – and the effort involved should not be underestimated. From the decision to sell the house or apartment to the handover of the property to the new owner, there are numerous steps to be taken.

 

These tasks are usually carried out by an estate agent and would have to be organized by the owner in the case of a private house sale:

 

 

 

Valuation of the property

 

Which selling price is realistic? To assess the property’s market value in a meaningful way and use it for the offer price, one must know the important sources or have the appropriate experience. If you cannot name the actual value, you will not find a reasonable price for the offer and consequently, no interested parties.

 

Creating an exposé

 

To create the perfect advertisement for the real estate portal, pictures of the property are taken, and a professional description text is written. With older houses, professional home staging may even be necessary.

 

Organization of all documents

 

Energy performance certificate, living space calculation, floor plans … All these documents are necessary for the sale and must be requested from the relevant authorities.

 

Developing a sales strategy

 

When is the best time to sell the property? Where is it advertised? Which customer group is addressed? A meaningful assessment concerning these points is essential to ensure that the property is sold at the highest price.

 

Contact to interested parties

 

All contacts of prospective buyers must be processed.

 

Carrying out the viewing appointments

 

When viewing the property, you should bring not only the key, but also the necessary expertise to provide comprehensive information about the property.

 

Selling price: negotiate or not?

 

In the price negotiations, a discount on the selling price can be granted, but this is unnecessary. Negotiating skills are required!

 

Preparation of a purchase contract

 

A sales contract is drawn up with the interested party, which takes into account the interests of all parties.

 

Performing the notary appointment

 

The purchase contract for the property is signed at the notary, and the notice of conveyance is applied for.

Selling a house without an estate agent: These are the advantages

 

Despite all the efforts: Selling a house without an estate agent has a few benefits that cannot be denied:

 

There’s no brokerage fee.
You have more room to negotiate, as the costs for the commission are eliminated.
You have full control over the selling process.
Coordination processes with the broker are eliminated.
You do not place the fate of your property in the hands of strangers.

Selling a house without an estate agent: These are the disadvantages.

Apart from all the advantages, however, selling a property without an estate agent also brings several negative aspects. You must reckon with these disadvantages if you take the sale of the apartment or house into your own hands:

The sale takes a lot of time.
Under certain circumstances, the sale of real estate can be a nervous strain.
You have to bear the costs of marketing yourself.
You must have various skills and knowledge (e.g., about the property market), which you may have to acquire at some point.
If your knowledge is insufficient, you will not have legal certainty in the sale.
In many cases, you will not obtain the best possible price for the property.
Private sellers tend to set their prices too high – the property becomes a shelf warmer on the relevant portals, ties up capital for too long, and causes unnecessary costs.

Checklist for selling a house without an estate agent

 

Whether it is advisable to sell a house or an apartment without an estate agent in a specific individual case is best determined with the help of the following checklist. Go through the different points and answer the questions honestly:

 

Do you have enough time to deal conscientiously with the sale of the house? Are you psychologically able to do so?
Do you live close to the property or further away, so that you would have to travel extra for viewing and other appointments?
Are you able to realistically determine the market value of a property and to set a sales price in line with the market? Are you ready to decide on the actual value of the current property market?
How well do you know the property market? Or the property price index? Have you already sold real estate? Can you determine the ideal time to sell?
Do you have sufficient skills in photography, image editing, and copywriting to create an appealing exposé?
How good is your legal knowledge? Do you know the pitfalls of selling a property, and can you avoid them? Alternatively, do you have a contact who can give you free legal advice, tips, and point out any mistakes?
How good are you at dealing with strangers? Are you able to present the property in a way that makes it appealing to interested parties?
Are your negotiating skills good enough to negotiate a price that reflects the value and with which you are satisfied?

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