Real estate sales without a broker – a good idea?

If you own a property and want to sell it, you are faced with an important decision. Namely, whether you want to sell with or without a real estate agent. In general, it is up to everyone whether and whose help they want to use for the sale of a property. However, there are some factors to consider in order to make the right decision. Above all, the question of costs plays a role. Because the broker gets a commission, a percentage of the sales sum and that is usually a lot of money from the point of view of the client.

The owner quickly comes up with the idea of saving these costs. After all, it can’t be that hard to sell a property, especially in the current market situation, right? Well, it’s a bit more complicated. In order to answer this question, it is important to understand what the real estate agent really does and what you need in individual cases.

What does a real estate agent actually do?

The real estate agent earns his money by brokering the right property to the right interested party. This requires a sound education in which knowledge on topics such as architecture, real estate law, psychology and marketing is required. Due to a strong practical focus, a trained real estate agent already brings a lot of experience with him.

Real estate agents do not necessarily have the best reputation, because they are considered extremely profit-oriented. Many believe that only the own profit maximization and not the fulfillment of customer needs and ideas for the broker are in the foreground. This is by no means the case. Unfortunately, as is so often the case, some black sheep have brought the entire profession into disrepute. In fact, one of the absolute foundations of the brokerage industry is to put the needs of clients first and meet them to their fullest satisfaction!

Real estate sales without a broker – a good idea?

Selling without a broker to save the commission?

Owners who want to sell are not obliged to do so with the help of a real estate agent. Especially if they have already sold a property in the past and have experienced a stress-free and smooth handling of the business (with the help of a broker), reselling does not seem like an excessive challenge. The idea is obvious to save this expense. The fact that the expertise of the broker has led to the achieved price and the problem-free process is forgotten. It is also true, especially in the US market, that there are several tools to help the DIY property sales and investments such as APN lookup software and access to national property records.

The fact is: the real estate agent is your partner. He works on your behalf and accordingly it is his ultimate goal to meet your wishes and ideas. This can only happen by first checking them for their feasibility and then working out a plan with you to implement your ideas without causing great inconvenience.

Selling without a broker: these are the risks!

Selling without a broker can be expensive and, above all, very time-consuming and stressful. At the latest when any construction defects or the lack of documentation of conversion measures carried out in the past come to light, or the customer contact proves to be more difficult than expected, the true value of a real estate agent becomes apparent.

Likewise, most interested parties are not experts in real estate transactions, so laymen on both sides meet, which can quickly lead to problems and misunderstandings. The emotional attachment that the owner has to his property should therefore never be underestimated. Especially when you consider that potential buyers like to think out loud during a visit and imagine what they would change.

Real estate sales without a broker – a good idea?

The real estate agent as a “diplomat”

Without the diplomatic sensitivity of a real estate agent, misunderstandings and friction are inevitable. Finding a quick agreement, in which above all the expectations of the seller are not disappointed, is unnecessarily difficult. In addition to the diplomatic role of the real estate agent, it is also important to keep an eye on the time factor. Because all the time-consuming, organizational aspects of a sale fall within the remit of the broker.

Disagreements about the condition of an object are a classic among the triggers for hardened fronts between owner and potential buyers. While one’s own home, in which love, money and ideas have been put for years, is usually considered almost perfect for the owner, potential buyers are in principle looking for defects that could affect value and price. It is precisely here that the broker as a diplomatic mediator can work wonders.

Real estate sale without broker = selling without contacts

In addition to their in-depth expertise, real estate agents bring another very important thing to a successful real estate sale: a database full of potential buyers! With the right filters, you can quickly combine and force the right target groups for your property. With this method, brokers can ensure that only “real” interested parties get a viewing appointment. This in turn saves you a lot of effort and time. An experienced real estate agent also brings the right contacts to present your property in the right light. For example, with the help of a home staging expert. You should not underestimate the necessary expertise to make your property as attractive as possible to the widest possible audience. Because the sale of a property is not about what the owner likes, but about enchanting as many people as possible with small interventions that can make a big difference and arousing an interest in buying.

The problem with bureaucracy

One aspect that many owners who are toying with the idea of selling their home keep underestimating is the bureaucratic effort that needs to be taken into account, understood, and managed. A lot of documents need to be prepared, filled out or even found.

These are often very special documents that you have probably never heard of. For you a very time-consuming challenge, for a real estate agent these things are part of the daily business.

At the latest at the notary appointment you will notice that it would not be bad for some questions to have an expert at your side. Although you will also find all sorts of tips and tutorials online on this topic, even these can not replace a sound education and years of experience!

Real estate sales without a broker – a good idea?

Conclusion for sale without a real estate agent

What it’s really about when selling your property is your safety. If you are not afraid of the bureaucracy, time and stress that comes with any real estate business, then it is quite possible to sell without a broker at your side.

However, if you are unsure, have doubts or no time for the effort involved, then it is really advisable to consult a real estate agent. The diplomatic role of a broker should not be underestimated.