There's always going to be plenty to think about when you're selling a property, and an increasing number of people are considering less conventional methods. For example, a sale by auction used to be reserved for relatively niche properties, but they are becoming increasingly common for more mainstream homes.
However, selling a home by auction isn't necessarily the best route, and most homeowners will find that selling through an estate agent remains the option that best fits their needs. Here are just four reasons you should sell your home through an estate agent rather than at auction.
1. Get a More Accurate Price Guide
One issue with selling at auction is that it's quite hard to estimate just how much you will get for your property. This can be a problem for many buyers since it's often advantageous to have a strong idea of a property's final sale price before it actually sells. For example, you might find it hard to find your next home if you can't be sure how much you'll be getting for your current home. An estate agent isn't going to be able to tell you exactly how much your property will sell for, but they can usually provide a much closer estimate.
2. Pay Lower Fees
One of the main drawbacks of selling at auction is that fees tend to be higher. This might not seem like such a big deal when you're only looking at a 1% or 2% difference, but those differences are really going to make an impact when you consider how much homes tend to sell for. It is true that the buyer will pay those fees in some auctions, but the money will still end up coming out of your pocket since the buyer will simply take fees into account and adjust how much they are willing to pay.
3. Enjoy the Option to Change Your Mind
Once the gavel has struck at an auction, the sale is final. If you have a change of circumstances or decide you don't want to sell the property after all, it's going to be very hard to get out of the deal. Even if it can be done, you'll usually face stiff fees for backing out. When you go with a real estate agent, things aren't fixed until all the paperwork has been signed and processed.
4. Get the Highest Price
At the end of the day, what matters most is the price you get for a property. While auctions tend to speed things up, real estate agents tend to get the highest prices. This is because you are able to wait for someone who is willing to pay what you're asking. Additionally, only cash buyers or those with financing in place can buy at auction, and that means the pool of buyers will be considerably smaller.
For more information, contact a real estate agent near you.
