If there’s one thing the internet is good at, it’s getting rid of middlemen. AirBNB cuts out hotels, Uber cuts out taxi services, Expedia cuts out travel agents and Upwork cuts out employment agencies. One of the few remaining middlemen are gradually being replaced by tech – real estate brokers.
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Sell Your House Online By Using Internet
Selling your house is now closer to being like selling your shoes. You can list online, speak directly to the buyer and get the best price possible. The fees are lower and the market much wider. So, if you’re looking to sell your house, here’s what you need to know:
Agents Still Hold Sway
Online real estate marketplaces have been claiming they’ll replace estate agents for decades. Although they have captured much of the market, real estate agents still hold a lot of sway in the industry. Walk across any road in your country and you’ll see hundreds of signs for real estate agents and property brokers.
According to the National Association of Realtors report, barely 9% of homes were sold without the help of real-estate agents in 2013. In fact, that’s a drop from 14% in 2003. Most of this drop is due to the way real estate agents have captured the market. They seem unavoidable but you can surely sell your house by yourself and save money.
Perhaps the best thing when you sell your house yourself is the cost-savings. You can forgo the extortionate fees charged by real estate agents and simply get a better deal with someone you know personally. Websites and online platforms allow users to list for free and get in touch with buyers directly, cutting down expenses for both parties.
While high street agents can charge fees between 1.5% and 2% of the sale, online rivals can charge a flat fee or smaller percentage that is likely to be multiple times cheaper. But cutting costs doesn’t come easy.
You’ll Have To Work For It
In the end, choosing to sell a house without a real estate agent involves taking on a lot of responsibility. While online portals can help you list your property, you’ll need to be confident you can handle all the rest yourself.
Unless you sell your house quickly, you will have to answer hundreds of phone calls, conduct the viewings yourself, do all the research to figure out the best price for your property, handle the paperwork, and eventually negotiate the best price with the buyer. If you think you can handle it – go for it.
Real estate has been stubbornly resistant to change and disruption. Online services have made it much easier to get tenants for your flat and list your property for sale, but most people are still going about the process in the most traditional way. This is a time-consuming and costly experience which you can avoid with a little careful planning and a dose of initiative.