Real Estate Investor Magazine South Africa October 2016 | Page 31

Many buyers can’t or won’t have the patience to wait
to see a home - they are too afraid someone else will
come in and make an offer before they get the chance.
Having an agent who is prepared to show buyers the
house while you are still earning at your regular job is
worth the commission and will get you the sale much
sooner.

6

Can you take objections and criticism
without getting emotional or upset?

7

Are you familiar with all the financing
possibilities to help facilitate the sale?

The chances of finding a buyer with the exact
same tastes and appreciation for your home as you
have are slim to none. Buyers are looking for homes
that suit their needs and lifestyle preferences, so as a
private seller you will have to keep smiling while they
detail everything they would like to change about
your precious home and make much of every little flaw
they can find in order to maximise their negotiating
position. Working with a good agent means you won’t
have to do this and will have someone professionally
trained to keep their cool and negotiate on your
behalf.

In a perfect world, every buyer would come to
the table with the whole purchase price in cash, but
the reality is that the majority will require a home loan
for the sale to go ahead. Do you know where to send
them? Do you know what the benefits are of applying
for a loan through a mortgage originator? How will
you establish what kind of credit record they have so
you can tell if they are even likely to get a loan? In

fact, how will you be able to tell if they can even afford
your home? Working with a good agent means you
won’t end up accepting an offer from someone who
isn’t financially capable of buying your property and
wasting marketing time and money while potentially
also losing the interest of other, more qualified buyers.

8

Do you really have time to handle all the
paperwork?

It’s the property owner’s job to get the home
ready for showing to potential buyers and it is tough
enough to handle repairs and maintenance, staging,
appointments for viewings and walk-throughs with
prospective buyers.
But if you don’t work with an agent you will also
have to organise show days, place and evaluate your
advertising (what works and what doesn’t?), become
expert in real estate contracts and establish all your
legal responsibilities and potential liabilities. Then if
you do find a buyer who is interested, you will need
to handle your own price negotiations, move the sale
to a conclusion, help the buyer organise finance, and
make sure all the necessary info and documents get to
the attorneys who are handling the property transfer
– all while possibly trying to find and buy a new home
yourself and organise your move.
In short, you will have to provide all the services
that agents usually provide for both seller and buyer.
Are you sure this is what you want?

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