Choosing to buy or sell real estate privately.
Many people work with a real estate agent when they buy or sell property, but it’s neither required nor technically necessary. It comes down to what’s more important to you. If you do choose to buy or sell privately, note that you don’t have to go it totally alone—there are private real estate services who will help you—for a fee. But be aware that these services are not regulated by FCNB, so there is a degree of added risk that you’re taking.
Why work with a real estate agent?
People who choose this route say they value the real estate salesperson’s help in:
- deciding if it is a good time to buy or sell
- finding the right home
- negotiating with sellers or buyers
- quickly completing the large amounts of paperwork these transactions involve
- avoiding closing issues
Why handle the purchase or sale privately?
The main reason people decide to buy or sell privately is to avoid the fees that a real estate agent would charge. The other main reasons many people cite for choosing to go private are:
- more control over setting and negotiating price
- more control over the process
- having the time and skills necessary to take it on
Are you ready to buy or sell privately?
Buying and selling property can take a lot of time, money and planning. When deciding whether to sell your property on your own or work with a real estate agent and salesperson, questions to ask yourself include:
- will I be comfortable setting a sale price and negotiating offers?
- do I have the time and money needed to advertise and show my home to potential buyers?
- have I considered extra costs such as legal fees and closing costs?
- am I comfortable coordinating the details that may be involved in buying and selling a home such as: setting up and attending viewings of homes, making offers, home inspections, home closing processes, getting approved for a mortgage etc.