A Private Sale Versus an Agent

Are you looking to buy or sell property? Do you know the pros and cons of using a real estate agent to buy or sell your home? What about conducting a private sale? The following information will help you decide which method is the best for you.

The main reason people use the services of real estate agents to buy and sell property is the convenience. A real estate agent will take much of the work out of the process of buying or selling. If you're buying a new home, an agent will show you properties, help you to make offers and advise you in your negotiations. If you're selling a home, an agent will help you determine a sales price and will arrange for prospective buyers to view your home.

Because a real estate agent works for a commission, it is in his or her best interests to help you complete a transaction on a property. This means that you will have someone working on your behalf to buy or sell your home, which will save you considerable time and effort. The drawback of course is the fee you will pay for their services.

In contrast, you can save when you elect to buy or sell a home privately because you do not have to pay an agent's fee. However, what you will save in money, you will definitely spend in time. If you are buying a home, you will need to deal with the owner directly and will not have the benefit of an agent's experience to help you negotiate.

If you are selling a home, you will have to pay for the advertizing costs and deal first hand with prospective buyers. This alone will be timely because you will not have an agent weeding out the people who are “just looking” from those that are serious about making an offer on your property. You will also need to do as much research on current market conditions as you can to ensure that you are setting a realistic price on your house.