So you have renovated your home and now you are looking to sell it. Now it’s just a question of whether you go through a real estate agent or sell it privately.
There are pros and cons for either option, but it mainly comes down to your situation.
If you want to exclude involving a real estate agent, you have to ask yourself the following questions:
- Do you have the time to sell your own house? If you have a busy work & family lifestyle do you have time to effectively market and show potential buyers through your house?
- Do you know what your property is worth? Market values can fluctuate from time to time, so you would need to know what you can realistically get for your house. Don’t make the mistake of overvaluing your own property, it’s only worth as much as someone is willing to pay for it.
The advantages of going through an estate agent is:
- They do any work required to sell your house such as marketing
- They have a network of customers that may be in the market for a new house
- They may be able to get a better value from the sale as it can increase their commission
But the advantages of selling the house yourself are:
- You have intimate knowledge of the house which may help sell it faster
- No commission. Without having to pay the real estate agent you will manage to hang on to thousands of dollars that you normally wouldn’t have.
So whichever way you decide to go, private real estate sales can have much better reward if you are comfortable and willing to put in the hard work into selling your house.