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.
There
is another option where you don’t have to pay commission, you don’t have to
deal with buyer showings and you don’t have to have a marketing plan. Sounds
good? Sell your apartment to a private property investor like Lucas Properties
LLC. They have cash on hand and ready to make you an offer.
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