This is the Dilemma!
How to understand whether the real estate agency or the private individual is better?
Choosing whether to rely on a real estate agency or "Do-It-Yourself" is a real dilemma. When the opportunity or need to deal with a property arises, there is the temptation not to want to involve real estate agencies or professionals in the sector. The question we ask ourselves is: "Is the real estate agency or the private individual better?"
By entering into a negotiation between private individuals, you would certainly save commission costs, but the real question you should ask yourself is only one: "Is this something I can do on my own?"
There are many aspects to take care of in a real estate transaction. In the case of a sale, we start from the logistical ones and then move on to the promotion and marketing ones which must take into account the exact market situations to be truly effective.
Without forgetting the legal, fiscal and bureaucratic implications which, in their various periodic updates, always tend to become heavier and more complicated.
The same happens when you are not the one selling but buying: would you feel at ease knowing that the operation is managed entirely by a private individual without the assistance of a qualified professional?
The negotiation for a property is a journey that can last several months and, it is not uncommon for it to happen, even run aground and not reach a conclusion due to apparently negligible errors and oversights. But, I assure you, there are no negligible details in this type of operation.
At this point, perhaps, you are thinking back to the question I suggested at the beginning of the article: "Is this something I can do on my own?"
I don't want to give you the answer, because you could tell me: “Luigi, it's your job! Of course, you advise against negotiations between private individuals, it would go against your interests..."
To dispel any ambiguity, I want to ask you some questions without giving you the answer:
...you'll take care of those! Each point that I am about to point out to you, you will find it developed in depth within the blog in other articles that I invite you to read in the future;
Now I just want to offer you a small and approximate overview of the various aspects that the parties have to deal with when making a sale.
So, are you ready?
- Are you able to develop a correct comparative market analysis of your property in order to determine the right request to be able to reach a sale in a reasonable time?
- Do you feel capable of building a marketing plan suited to the unique characteristics of your property in order to make it as visible and attractive as possible? I'm not talking about the classic advertisements on real estate portals that anyone can do, but about all the most advanced proactive marketing initiatives.
- Have you the time and knowledge necessary to qualify customers who are interested in visiting your property, that is, understand who they are, what exactly they are looking for, whether they can actually afford the sum you are asking for and therefore understand whether they are solvent, whether they can resort to a mortgage, etc.? All this to avoid coming across the usual and inevitable onlookers or the so-called "real estate tourists" who will only succeed in making you waste precious time, taking it away from both your work and your loved ones.
- Do you think you can always be present, on different days, at different times, to show your property to all potential buyers? Very often, in fact, customers' schedules may be unusual or, in any case, incompatible with yours.
This was just for starters. The complicated part begins once you find the buyer:
- Are you aware of how to start a negotiation, especially in a cold and detached manner, without the emotional factor playing tricks on you? Remember that you are dealing with the most economically important asset of your life and you absolutely cannot afford to make mistakes.
- Do you know how to accept a formal purchase proposal with all the appropriateness?
- Do you know the clauses to include in a proposal in order to protect yourself from every point of view?
- Do you know how to judge when a proposal is the right one to accept and, if necessary, do you know how to proceed with a counter-proposal?
- Are you able to manage a mortgage-bound proposal and what particular conditions should you include in this type of situation?
- Do you have a person capable of interfacing and mediating with the bank in the event that there are complications in granting the mortgage to the purchasing customer, with the risk of ruining the negotiation?
You've closed the deal, now what?
- Do you know which documents are needed to complete the sale?
- Are you able to interface with the notary, the surveyor, the technicians and all the other professional figures that may need to be involved to manage any bureaucratic, legal, fiscal and technical issues?
One last clarification:
all these points relate to a sale that takes place according to practice, in a smooth and uncomplicated manner; every real estate transaction, However, it can take on unpredictable dynamics and be hindered by problems that were absolutely unthinkable at the beginning.
Answer the question honestly now: Is this something I can do on my own?”
Now you have a fairly complete picture: I have offered you food for thought on how to choose whether to rely on a real estate agency or DIY, and now you can answer the question with which we opened the article: "It's something that Can I do it alone?”
If your answer is yes, I hope that your transactions take place peacefully in the ways and times you desire. If, as is most likely, you believe that these points represent too heavy a burden for your shoulders, I am here at your complete disposal to offer you my availability, competence and professionality and to follow you in your transaction, making it totally safe and advantageous.
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