PROPERTY SALE BY OWNER OR AGENT: WHICH IS BETTER?



By Neltah Tshepiso Mosimanegape

There are pros and cons to selling your property either by yourself, as a landlord/property landlord, or through an agent. Now, when I say ‘agent’, I am referring to a Real Estate Institute of Botswana (REIB) and Real Estate Advisory Council (REAC) individual who practices professionally and legally abides by the laws of the Real Estate Professionals (REP) Act. Here are a few pros and cons of selling your property yourself versus having it listed with a professional agent.

SALE BY OWNER

Pros

  • Selling your property by yourself gives you full control of the whole property sale process.
  • If you sell your property successfully, you do not have to pay any commission, typically 5%, to any third party (i.e., the agent). Some sellers may engage ‘fly-by-nights’ who offer a lower commission to sell their property. However, there have been so many incidences of landowners being ripped off by these illegally trading individuals, so this point is both a pro and con.

Cons

  • On the same accord, as the seller, you will be responsible for the marketing, conducting viewings, vetting of prospects, preparing offer letters, making visits to the departments such as the deeds registry to transfer the property. Sounds time and energy-consuming, right?

SALE THROUGH AN AGENT/AGENCY

Pros

  • Property agents have an academic certificate and undergo a one-year apprenticeship program to perfect their craft as agents. Agents are fully trained on the property purchasing process from start to finish. They handle all the nitty-gritty of the process, relieving sellers of the stress and frustration of completing a sale.
  • Agents ensure that the interests of the property owner are prioritized as agents earn on a commission basis. Therefore, ensuring a quicker sale benefits both the agent and property owner.
  • Agencies usually have a database of parties already looking for buyers of properties. Therefore, the chances of finding a buyer quicker increases as there is a larger pool of prospective buyers.

Cons

  • A certain level of co-operation between the agent and the client with the property owners is necessary, especially when accessing the property and providing the necessary documentation. A lack of such co-operation, even if you are selling by yourself, can stall the sale.

LIST YOUR PROPERTY WITH US!! CONTACT ACCREDITED PROPERTY SELLERS

Contact Tempest Gold on 72196950  to engage trusted and registered property agents to sell your properties!!!

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