The Pros and Cons of Selling Your Apartment Privately
In the past, when you want to buy or sell an apartment you approach a real estate agent. Nowadays, approaching an estate agent is still an option however there are other options as well including online auctions, private selling, and going to private property investors. Internet entrepreneurs of today make it extremely convenient for both vendors and buyers to choose private selling. The advantages and disadvantages of selling your apartment privately should be weighed in advance to determine if it is the most beneficial route.
Private selling has the following advantages over real estate agents and online auctions. First and perhaps the most important is saving your pennies. There are no commissions or listing fee to be paid. Estate agents charge an average of 2% of the property’s selling price; you can allocate $50-$100 for private ad online. If you sell your apartment at $1500, you can save at least $1400.
You can be your own representative and be able to deliver clear communication. Since you are your own boss, you have total control over the marketing plans. Nothing gets lost or misrepresented when you are dealing direct with potential buyers and you will have first-hand experience with the buyers which will help you determine how serious the buyers are.
One of the disadvantages are you become the salesman. If you are the quite type then private selling is not the best option. You should know that you will be competing against seasoned sales agents and they already have the advantage of having established business connections. If you don’t have the gift of tongue, you might find dealing with buyers directly is difficult.