Five important criteria for a decision-making aid
Should I involve a broker, or do I prefer to do it myself? Probably everyone who wants to sell a house or a condominium faces this question. There is no blanket answer. Carefully weigh the pros and cons. Here are a few criteria to help you decide.
Criterion 1: The costs
For many who want to Transfer their property privately and not with an agent, this is one of the main arguments: there is no agent commission. It’s correct. Depending on the federal state, the commission is between six and seven percent of the purchase price. With a property value of 200,000 euros, that is at least 12,000 euros. No fool. Since seller and buyer share the brokerage commission in most federal states, the costs for both sides are an important criterion.
Information in the advertisement such as “without broker” or “without brokerage” can even attract buyers who see savings potential when buying the property and/or would generally prefer to buy without a broker. That speaks for the sale from your own hand.
A good broker, however, is worth its price. He relieves you of a lot of work and, in the best-case scenario, gets more out of your property than you might think. Therefore, you should also consider the following criteria when making your decision.
Criterion 2: The market overview
Selling a property is no small matter. It’s about a lot of money. You want to get the highest possible price. Clear. But do you have a feel for the current real estate market? Do you know the local prices? And do you know how much your property is actually worth? Surely you have an idea of the price. But is it realistic?
The selling price is not primarily determined by how much you paid for your house or condominium and what you have put into it over the years. Supply and demand are decisive in the current real estate market. You know your way around; Then you might be able to do without a broker.
Do you have no idea? It is better to hire a professional for whom selling real estate is their daily business. The advantage: a broker knows the market and prices. As a real estate expert, he knows what is realistic and what is not. Ideally, he even achieves a higher sale price for your property than you would have expected. Or he will bring you back to reality because your asking price is utopian.
Alternatively, you can also have your property appraised by an expert without bringing a broker on board. Your decision.
Criterion 3: The time factor
Do you have time, or do you want to get rid of your house or apartment quickly? Please keep in mind that a property doesn’t just sell itself casually. Don’t underestimate the time it takes. There is much to do:
- write an exposé for the object,
- prepare advertisements,
- obtain an energy certificate
- prepare the property for viewing,
- Guide prospective buyers through the house or apartment,
- find buyers first
- check their creditworthiness
- prepare the contract of sale
- and so forth.
This can drag on for months and can mean a lot of stress. Are you not in a hurry and have enough time to take care of yourself? Then that is an argument for selling without a broker.
If you don’t have the time or if all of this is a nuisance to you, it’s better to involve a professional. Many agents have a large database of potential buyers, so the sale can go faster than if the property owner had to find prospects themselves—one argument per broker.
Criterion 4: Marketing
Just advertise in the newspaper or on the internet, and you’re already rid of the property? Unfortunately, it’s not that easy, even if the demand for real estate is currently high in many places. Selling a property is very complex and needs to be approached wisely. The be-all and end-all is professional marketing of the property. This includes, for example, the appealing presentation of the property in advertisements and when viewed by potential buyers.
The sales pitch is also important. How do you convince prospects, how do you respond to their questions, and how do you negotiate an optimal price? Most private sellers are untrained here. On the other hand, an overly experienced broker can also deter prospective buyers. So be careful when choosing a broker.
Criterion 5: The contractual
The contract with the seller is part of the sale of real estate. That’s what the notary is for. Correctly. The contract should contain all the essential agreements that you and the buyer have made. If you sell without a broker, you must brief the notary. If important aspects are forgotten, for example, defects in the property, this can be expensive for you.
You will also need to obtain various documents for the notary appointment – for example, the current extract from the land register and the current cadastral map. If you sell with a broker, he will take care of the contractual matters and also take over the sales negotiations, which ultimately lead to the purchase contract.
That’s what makes a good agent.
Is it better to sell a property with or without an agent? We cannot make this decision for you. But one thing is important: If you want to sell through a broker, you should have a good feeling about it.
But what makes a good real estate agent? He should come from the region; then, he would know the local conditions. A reputable real estate agent will take the time to answer your questions and not put you under pressure. He advises you honestly, draws your attention to problems, and is easily accessible to you. And he doesn’t ask for an upfront commission payment.
Tip: Don’t rely on broker reviews from the internet. These can be manipulated. Unfortunately, there are also black sheep in the industry and brokers who have no sound training for this job. Therefore, make sure that the broker is part of a broker association.
Get the best price for your property.
If you want to sell your property, you have come to the right place with our brokers.
You might also be interested in these topics:
How to value your property before selling it
Anyone who sells their house or condominium wants to get a very good price. The seller can do a lot for that. So don’t leave anything to chance and present your property attractively.