Why Many Homeowners Are Becoming Home Sellers Themselves
The country’s housing market continues to become healthier and more competitive, and this is apparent with the gradual increase in home and property sales. If you are planning to sell or buy a house in Australia, it is now the perfect time to do so. Since more families have the financial capability to purchase new houses, brokers and agents are always on the lookout for potential clients. While majority of home buyers and sellers cannot do without the assistance of professional brokers and agents, there is a growing trend that goes against this housing market culture.
The common practice in the housing market is that property and home sellers retain the services of brokers and agents who can assist them in finding buyers and in transferring necessary documents for change of ownership of the property or home. However, there is a trend now in Australia that leaves brokers and/or agents from the picture. Homeowners selling their homes, while not new in the housing industry, are becoming much more prevalent and popular in Australia. In this real estate process, the home seller no longer hires a broker or agent to represent them before the buyer. Basically, sellers no need to pay for commission of the broker and agent, allowing them to obtain more money in the sale.
While most of sellers do the marketing of their property, it is not uncommon for some to hire marketing professionals to do it for them. Some sellers also post their ads on online selling sites to attract more potential buyers. Homeowner-sellers likewise hire lawyers who represent them throughout the sales process. Some may go with just quantity surveyor report and go ahead on selling the house. Because of its less complicated nature, it has become one of the more popular choices of Australia home sellers throughout the years. Listed below are some of the many notable benefits.
It cuts the red tape – In a home selling process that involves brokers and agents, the negotiations can be a bit more time-consuming for both parties. Since the buyer needs not to negotiate with the broker or agent, he or she can directly talk with the seller, cutting the red tape and saving both parties time. Because of this, negotiations become more direct and personal; hence, if the buyer is already decided to buy the property, he or she can easily do so, giving both parties benefits.
It can reduce the final price – Since there are no brokers and agents who will get commission, the final price can be reduced, which can help the seller to sell the property faster and can naturally benefit the buyer, depending on the quantity surveyor report. One of the common reasons why an Australian home is sold at a relatively higher price is because agents and brokers have a cut on the sale, so if they’re not part of the sales process, the price can be reduced.
It makes the sale simpler – If you are the type of home seller who is not fond of dealing with complicated processes, thenit is perfect for you. Since you don’t have to hire agents and brokers, you can directly communicate and negotiate with the potential buyers, making the sale more personal and interactive.
While it has various benefits, sellers and buyers must still take precautionary measures. There are many legitimate sellers in the country but there are also scam artists who are ready to lure unsuspecting individuals. It is important for any buyer and seller to determine if the person they will be dealing with have no ill plans against them, making sure that the sale will be smooth sailing and will leave both parties at a good state.