Is it advisable to buy and sell a property through a Real Estate consultant?
The first thing that comes to mind with using an estate agent in the sale of your property is the commission and the money that could be saved if you weren’t to use one.
However, if we look at the bigger picture, it is worth reconsidering. Here are some of the advantages of buying or selling your property through a real estate agent:
- Buying or selling a property requires a lot of time and dedication. In addition to the various processes to sell the property, you will also have to deal with all the parties. When buying, the process is practically the same, therefore it is faster and easier to find the house of your dreams through a trustworthy estate agent.
- The estate agent will have various means (network, website, experience, market knowledge, etc.) that will allow you to find potential buyers at an ease.
- The estate agent also has a large portfolio of properties and collaborators, where you can find a property that meets all the characteristics you are after. It is crucial that the agent shows all the properties available, regardless of the commission. A property labelled less than the “standard commission” is often considered not to be worth the agent’s time. However, not showing properties to a client for those reasons can be seen as acting in the interest of the agent instead of the client.
- The estate agent has a sales and management strategy when closing a sale. From the first meeting, it is essential that the estate agent talks you through the general process of buying or selling a property, and, in particular, goes through the details of the house you are about to view. Communication is extremely important, together with honesty and integrity.
- Thanks to the profound market knowledge, you will obtain an accurate valuation of your property, advising also the potential buyer in the different ways to complete the purchase, and, if necessary, help guide and intermediate in the application of a mortgage. If applicable, an explanation needs to be given as to why the property is overpriced, supported by comparative market analysis and current recent sales.
- In the event that something goes wrong, you will always have a responsible firm to claim and demand guarantees from.
- In addition to contracting an estate agent, the most recommendable and practical is to hire an independent legal advisor, with experience and a good reputation, to review the entire purchase process from the signing of the private contract to the registration of the buyer in the Property Registry.