Selling Land With Vs. Without A Real Estate Agent: Which Is Right For You?
Selling land can become a dicey deal considering the various processes that accompany it. Landowners often seek out the best options for their assets when selling. While you can sell land through different means, owners usually have to contemplate between making the sales themselves or through a real estate agent.
And this is true whether you are working with someone nationwide or a real estate agent in another city worldwide, as our recent experience with this real estate agent in Lisbon demonstrate.
Placing the options side by side both offer unique benefits. Countless landowners have secured profitable deals from land sales without consulting agents. How? Discover more here. Yet, some others have had to engage property agents to help them secure the most profitable deals—different strokes for different folks.
Which is best for you: selling your land with or without an agent? Let’s compare and contrast these options based on their features and benefits.
1.Costs
Selling your land without a real estate agent saves you thousands in agent commission and real estate fees. Real estate companies have different agent commission percentages. Making direct sales without involving agents saves you this cost, alongside other marketing costs.
On the other hand, selling with an agent leaves you with no option but to pay the expected commissions and fees. However, these charges save the hassles of marketing your land by yourself.
2. Control
Selling land yourself gives you an excellent level of control over the processes involved. You can make your decisions, especially regarding advertising your land and the features communicated to the buyers. You’re also in control of the experience you create for your potential buyers and the first impressions they get about the land.
On the flip side, selling through a real estate agent takes some amount of control from you. Agents are usually busy due to the various properties they have to manage at once. Therefore, they may not be careful enough to give your potential buyers the best first impressions and customer experience about your land.
3. Feedback
You can achieve transparency and get accurate feedback on every action taken by selling your land without an agent. Since you’re the one meeting with the buyer directly and controlling the narratives of your advertisements, you can ensure a transparent and honest selling process. You get direct feedback from buyers about what they like or don’t like about your property.
When you sell with agents, it’s a slightly different case. While some agents are honest enough to tell you all that transpires between them and potential buyers, some may omit some important information, thereby impairing the transparency you desire to achieve. With agents, you may not be aware of all you’d have known if you were selling directly.
4. Pricing
Real estate agents understand the market better than landowners. They can help you list your land at a favorable and profitable price. Because they’re aware of the various factors that go into pricing land, they can quickly determine the best offer to make on your behalf.
On the contrary, if you decide to sell your land yourself, you may omit essential considerations and end up pricing your land for less than it’s worth, thereby leading to a less profitable sale. Another scenario is that you overprice the property and fail to get a buyer due to its overly high price.
5. Market Exposure
Most potential buyers contact real estate agents before seeing the property when buying land since they know they’re experts in property matters. If you decide to sell your land through an agent, it quickly gets noticed because as potential buyers visit the agents, they get information about your land. Also, agents know the best avenues to present your property to the market.
However, things become different when you decide to sell directly. Your lack of exposure and professional credibility can negatively affect the number of potential buyers aware of your land and coming for it.
6. Negotiations
Negotiation is a critical part of every selling process. Property buyers and sellers will have to negotiate before arriving at a win-win situation. If you’re selling your land without an agent, you have direct access to the negotiation table. However, you may be disadvantaged when the heat is turned on due to your lack of expertise in negotiations. It becomes more stressful to negotiate if you have an emotional attachment to your property.
On the contrary, selling with an agent saves you the stress of back-and-forth property negotiations. They also approach the negotiation expertise, giving you an advantage that helps you get the best possible deal. More so, by using an agent, you gain a perception of professionalism and credibility.
Conclusion
Wether you sell with or without an agent, you can get your land sold. Nonetheless, it’s essential to consider all of the pros and cons of both options before making a decision. Whichever decision you make, ensure it’s right for you.