Often when people decide to sell their property, they choose to take the matter into their own hands rather than go to an agency or a realtor. In this way, they can save money by avoiding paying the property agent’s commission. They are also not dependent on a third party’s decision making and can directly communicate with any potential buyers.
Seasoned Agent vs. First Time Seller
When it comes to property for sale in Pakistan, real estate agents know all the ins and outs of the market and can assist sellers in their decision. However, the level of information that a property agent brings with them pertaining to their time and experience in the realty sector is unmatched. Nonetheless, deciding to go solo or with a property dealer is a personal decision.
Timing is Crucial
When it comes to selling, timing is crucial as the longer a property stays on the market, the more difficult it becomes to sell it. This article sheds light on some essential steps that can be taken when tackling such an overwhelming project. The following are some important tips to bear in mind in order to have a smooth and pleasant experience:
- Proper Listings
Let’s take a closer look at these steps for selling your house without an estate agent:
1. Taking Safety Measures When Selling Your House Without An Estate Agent
Realtors have a thorough process of making sure that they safeguard the safety of their clients and property. They do so by following their agency’s set rule of procedure and following certain checks and balances. To ensure safety a seller can be selective about the information they put out. They don’t necessarily have to share their full name and address, and these can be revealed at a secondary meeting or once a potential buyer shows interest. Having a separate first point of contact for potential buyers is another way to go about it.
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2. Only Share Basic Information
As a first step, sellers can share basic information about the property, and once they have shortlisted potential buyers, further information can be revealed. As an extra layer of safety, sellers can gather helpful and important information about the people that visit the property. These can be their CNIC numbers, contact numbers, names and home and office addresses. By using such measures, sellers can have a safe and pleasant experience when selling a house without an agent.
3. Being Patient When Selling A House Without A Realtor
It is important to remember that since you are not an experienced member of the realtor industry, it can take you much longer than expected. The whole process of selling a house without a realtor is new, and so there will be many learning points along the way. Lack of information about the process such as who to contact, what information to share and what important dates to keep in mind; all such steps require time to get accustomed to.
Of course, a seasoned realtor would already be familiar with the process and will not waste any time figuring out the steps. First-time sellers, however, will have many things to figure out, and then of course, we often face unexpected situations. As a tip one must always have extra cash at hand for any emergencies. Overall, figuring out the process and then making sure things go smoothly can take a bit of guesswork the first time around, and so it takes a lot of time and patience on the seller’s part.
4. Predicting the Market
Another factor is that generally, people are not very good at reading the market or predicting trends. In a real estate market, timing is of utmost importance, so figuring out when to put a property on sale and what aspects to look out for can become a bit cumbersome for first-timers. Hence one must remember that to sell the property without a realtor; they must have abundant patience and carefully manoeuvre their way through this process.
5. Proper Listings Are Crucial When Selling A House By Owner
When it comes to steps to selling a house by owner, attracting a buyer can prove to be a cumbersome task. To attract the best buyer for your property, it is essential to do a proper listing of your house first. This means that whatever information that you share must be authentic and verified. Sellers can now also make use of the top property portal of Pakistan. On this portal, they can either sell, rent or buy all types of property.
6. Good Pictures For Good Listings
If sellers wish to use online portals for selling their property, they must make sure that pictures of the house are top-notch! Multiple pictures should be taken from different angles, and each room, specially the multi-use rooms such as kitchen, dining area, living room etc. should be covered in these pictures.
For further assistance sellers can also look at our blog on “Tips to Take Good Real Estate Listing Pictures”.
7. Negotiations Are The Deciding Factor
Once you have attracted buyers for your property, the next most important step is to pursue the right buyer. It is the most significant step towards making a successful deal. Getting the right buyer to pay your asking price can be rather challenging. The negotiations part of the process requires a bit of grit, but both parties can reach a number that best suits them with the right mix of give and take.
8. What the Buyer Wants vs. What You Can Sell
As a first time seller, it may be helpful to focus on what the buyer wants rather than what you are trying to sell. It is paramount that you do not rush the process and meet the buyer halfway.
We hope that these four steps prove to be helpful to first-time property sellers, and they can make a successful sale. And by following these steps, you will surely be able to sell your property without the help of a realtor smoothly! Remember to do your homework beforehand and have your property completely ready before officially entering the market.