Selling your home without a real estate agent on the Costa Blanca may seem like a good idea to save you costs, and although some can make it work, it is generally inadvisable. The number of resources, knowledge, and skills acquired thanks to years of experience, of a real estate agent are invaluable. Besides, with so many apartments available to buyers, selling your home without the help of a real estate agency can pose many risks and lead to problems that you probably cannot imagine.
Some problems you may encounter are listed below:
You price badly (and do not know how to negotiate)
Without access to a valuation tool and internal market data that a real estate agent has, you can’t know what the right price for your home. That can mean you make it too expensive, and you can’t sell it, or you make it too cheap and get less money than you should. You have to keep in mind that usually, the buyer will try to negotiate the price. If you completely refuse a negotiation, you will probably lose the sale, and if you don’t know how to negotiate, you can end up selling, once again, for less money than is fair.
If you do not know the marketing techniques necessary to advertise your home, you do not know how to take photographs to highlight its virtues, and you do not have the contact network of a real estate agent, very few people will know that your home is for sale. And the fewer people that know, the less potential buyers you will get, and the harder it will be to close the deal.
On the other hand, an agent can tell you what small details to correct to improve the chances of selling, and at a better price.
All this means that without an agent, it will only take you longer to sell your house, and if you are in a hurry, you may end up getting too low a price. Even if you’re not in a hurry, you can incur expenses; in Spain, many of the homes for sale are second homes from which taxes are payable even when a house is empty.
Lack of legal knowledge
To manage the sale of a house, you have to know everything about legal issues and contracts. Without an agent, you will be responsible for everything you do; What you sign may not be the most beneficial to you, and buyers may even sue you later for any contract problems.
Also, many buyers reject the agreement simply because the contract proposed by an owner does not give them adequate confidence.
A real estate agent will not only be responsible for legal issues but will also inform you about taxes and other responsibilities you may have.
You don’t know your buyer
When someone is interested in your house, it is essential to know if they are a qualified buyer or just a curious neighbour, if they have the means to buy the house or are looking beyond their means. Real estate agents know what questions to ask to learn the buyer’s reasons and resources and to know if a visit to the house is worth it or is a waste of time.
The agent will take great care not to give confidential information to the potential buyer, or to say anything related to the security of the home and will never leave anyone visiting the house alone.
It is also worth mentioning that numerous studies say the potential buyer is much more comfortable when the seller is not present, as he can better observe the house and ask the agent questions. All this means a sale more likely to result.
You waste time
Selling a house involves spending a lot of time. It means taking photographs of the property and announcing it correctly, preparing the home every time there is a visit, taking the time to show it to potential buyers, and once you find the buyers, dealing with the entire legal issues.
Although an agent will charge a commission for selling your home, in general, this is quite small in relation to the work involved. Although we are biased, we advise you to proceed with great caution if you are thinking of selling on the Costa Banca without an experienced and reputable agent.