Selling Without a Real Estate Agent? Watch Out, Before it Turns into a Disaster
While everyone is aware of the difficulties and challenges associated with purchasing a home, many people believe that selling a home is simple. All you have to do is take some photos of your home, post them online, set a price, and you’re done! You’re finished.
On paper, it may appear simple. However, there are numerous complexities and challenges involved, making the entire process far from simple, especially in an advanced metropolis like Dubai. The process entails many steps, from arranging the necessary documents to conducting market research, convincing buyers who have many options, to setting the price and negotiating with buyers.
If you do not hire a real estate agent, the entire process can become a nightmare. Many people make this mistake because they believe hiring an agent will be a financial burden. They dread having to pay the commission to the agents. However, they are unaware that in order to avoid paying the commission, they may end up selling their home at a lower price due to their lack of experience. And this loss will undoubtedly be more severe!
Let’s take a look at the different reasons why hiring a real estate agent can be a savior while selling a property:
- Knowledge about the real estate market
Real estate agents with extensive market knowledge are professional and experienced. Not only that, but they have an idea of where prices are headed. There is, of course, unpredictability and uncertainty in this regard. However, in most cases, experienced agents can forecast market trends and assist you in determining the best time to sell your property. A professional property agent, for example, will advise you to sell your home in Dubai South once the work on District 2020 is completed, as the latter’s proximity to the former will help to raise the price.
Without the assistance of a real estate agent, you will be unable to gain this knowledge, which may result in an unfavorable decision.
- They are great at negotiation
Whether you want to sell or buy property in Dubai, you must be a skilled negotiator. This can have a significant impact on the final price of the property you want to sell or buy. However, negotiating terms and prices can be difficult. Having an expert on your side can provide you with relief in this regard because they will negotiate the price with the buyer and ensure that selling the home is beneficial to you in the long run. If you negotiate on your own, you may have to deal with an experienced real estate agent hired by the buyer. They may be able to persuade you to sell your home at a lower price than the market by utilizing their skills, experience, and expertise. This is not a situation you want to find yourself in!
- Handling the transaction
As was already said, selling a house is a complicated process with many challenges and rules. For example, the buyer may have financing concerns, questions about the property’s appraisal value, or concerns about the home inspection assessment. If you are unable to satisfy them with your responses, the deal between both parties may fall through. This, however, will be a minor inconvenience if you have a real estate agent overseeing the entire process. They have previous experience answering such questions and satisfying buyers. Furthermore, they will ensure that the entire process is completed while all of the nitty-gritty details associated with selling the property are efficiently sorted out.
You must make sure that your home sells to potential buyers when you are selling it. The more people who are aware that your house is for sale, the better the response you will receive. This increases your chances of selling your home quickly and at a good price. This is where marketing comes into play, and real estate agents can help.
- Home inspection
It is very common for homebuyers to thoroughly inspect the property before finalizing the transaction. While the main purpose is to assess a home’s ‘livability,’ it also gives them an advantage when negotiating the price if they discover any flaws or problems within the property that impact it’s livability.